UAE spends big to boost private sector workforce
The United Arab Emirates will spend $6.5 billion in incentives for its citizens to take work in the private sector and stop waiting for public jobs.
The United Arab Emirates launched a lavish program last Sunday to encourage its citizens to work in the private sector.
The program, which will start Oct. 1, is the second of a broader plan called "Projects of the 50," being announced throughout October to boost the Gulf state’s economic development for the next 50 years.
The program allocates 24 billion dirhams ($6.5 billion) to train citizens to join private companies or to launch their own projects, according to UAE news agency Wam.
The first set of “Projects of the 50,” announced Sept. 5, includes incentives to attract foreign investment and two new types of visas for living and working in the UAE: Green for experts, investors and businesspeople, and Freelance for people who are working independently.
