Page 57 - WGEO PR REPORT - November-December 2022

11/14/22, 2:48 PM Mohammed bin Rashid chairs Cabinet meeting and approves the convening of the UAE Government Annual Meetings
which aims to consolidate the global transformation towards more sustainable economy to preserve the environment in
preparation for the UAE to host the COP28 next year. We wish Egypt all success in the current session."

His Highness Sheikh Mohammed bin Rashid said, "At the cabinet meeting, we approved a comprehensive development
project for the federal government staff to enhance the readiness for the future by training on the skills required for the
coming period... Investing in our cadres is the best and most profitable investment for our future."

His Highness said, "In our meeting, we reviewed the updates of the government productivity measurement project and
assigning it to the Federal Human Resources Authority. Some of our entities and ministries still have poor productivity
compared to the human and financial resources available to them”.

His Highness added: "In our meeting, we also adopted a new policy to support the local product by changing the
customs exemption policy so that the exemption is for imported materials that are included in industries that are not
locally available... The goal is to encourage factories to use locally produced materials to support them."

The UAE Government Annual Meetings

The Cabinet approved the convening of the UAE Government Annual Meetings on the 22nd and 23rd November. The
nation-wide meeting will witness the participation of UAE’s leaders, the ministers of the UAE, and representatives of all
UAE government entities at the federal and local levels. Participants will discuss current developmental projects, shaping
the future development vision of the country to reach the UAE Centennial 2071.

The Consumer Goods Pricing Policy

The UAE Cabinet adopted a new policy to price the basic consumer goods in the country. The Ministry of Economy will
be responsible of ensuring control over the commitment of basic commodity providers and sales outlets, to pricing in
accordance with the policy. The policy includes 9 basic commodities for consumers, including cooking oils, eggs, dairy,
rice, Sugar, poultry, legumes, bread and wheat.

Creating and organising Owners Association

The meeting adopted a decision regarding the establishment and organization of the Owners Association.

The decision regarding the executive regulations’ provisions apply to all real estate established by the federal authorities
in the country, including free zones.

Controls of Shariah Supervisory Committees for Companies

The meeting adopted a decision regarding the standards, requirements and controls of the Shariah Supervisory
committees and the Shariah observer, for companies established in the UAE that conduct their activities in accordance
with the provisions of Islamic Sharia. The decision sets controls for committees’ work. As for the companies, they must
obtain the approval of the internal Sharia Supervisory committees after their establishment and before starting their
activities.

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