To encourage youth to take advantage of commercial opportunities, UAE government decided to allow its Emirati employees to take a year’s leave to start their own business ventures, the authorities announced on Thursday.
The employees will be entitled to half the salary and they will be able to retain their jobs to encourage more citizens to start their entrepreneurial journeys.
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A cabinet meeting was chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Thursday to approve this.
“Our goal is to encourage the youth to take advantage of the huge commercial opportunities offered by our national economy,” Sheikh Mohammed tweeted.
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“Today, within the Council, we decided a full-time leave for citizens working in the government who wish to run their own business. The leave is for a full year with half the salary while retaining the job.”
Meanwhile, the UAE Vice-President said that the Cabinet also reviewed the country’s economic conditions as compared to its pre–pandemic levels as the country saw a 47 per cent growth in non-oil exports 16 per cent increase in foreign investments and a 126 per cent rise in the number of new companies.
