The United Arab Emirates has unveiled two new policies aimed at strengthening the economy by encouraging local employment while attracting and retaining wealthy expatriates.
Analysis & Comments: The changes come among a raft of reforms aimed at spurring economic growth during the current slump. The Emiratization pilot program will provide private-sector job opportunities for locals, especially the UAE’s growing youth population, as public-sector opportunities are currently limited. The longer-validity residency for older expatriates may enable mainland companies to attract foreigners who contribute to the economy.
Source: Deloitte LLP. Deloitte LLP is a limited liability partnership registered in England and Wales with registered number OC303675 and its registered office at 1 New Street Square, London EC4A 3HQ, United Kingdom.
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