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With the new visa system, the UAE is supporting families as well as the economy. Residents are now able to take an integrated path from entering the country to attaining a long-term Golden Visa.

The Green Visa will allow foreign residents to sponsor their parents and sons until the age of 25, as opposed to the traditional rule whereby a parent could only sponsor sons until the age of 18. The Green Visa will not be related to work permits, and aims to target skilled workers, investors, entrepreneurs, outstanding students, and talented graduates.

In addition, Expats who have lost their job in the UAE will soon be able to stay up to six months in the country as part of the leadership's new reforms announced on Sunday.

“We are relaxing the grace period one gets to leave the country after being made redundant. Instead of the previous 30 days, people will have 90 to 180 days to leave the country,” said Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.

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In the coming weeks, the country will decree a new UAE Data Law — the first federal law of its kind that will be drafted in partnership with major technology companies, a minister announced on Sunday.

The UAE Data Law — announced as one of the country’s ‘Projects of the 50’ — will give individuals the freedom to control the way their personal information is used, stored and shared.

“With this law, international companies can call the UAE their home," said Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications.

The UAEs new data law is one of several digital initiatives designed to prepare the country for the future.

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The United Arab Emirates is deepening its trade ties in Asia and Africa as part of a broader plan to draw $150 billion in foreign investment and reposition itself as a global hub for business and finance.

The UAE, which has spent years as the Middle East’s business and financial capital, will work on economic partnerships with eight countries, officials said in a media briefing on Sunday. They include South Korea, Indonesia, Kenya, Ethiopia and Turkey, where ties with President Recep Tayyip Erdogan have warmed dramatically in recent months after years of tensions over regional politics.

The UAE is seeking AED550bn ($150bn) of inward foreign investment over the next nine years and aims to be among the 10 biggest global investment destinations by 2030, UAE Economy Minister Abdulla bin Touq said. It will focus on investments from countries including Russia, Australia, China, and the UK.

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The first of 50 new projects and initiatives to boost the UAE's development will be unveiled at an event in Dubai today. The initiatives will be the cornerstone of growth as the country marks its 50th year since unification.

Amongst the announcements is $1.36 billion to Emirates Development Bank to support the industrial sector and well as new highly flexible "green visas" to be created. These would allow parents to sponsor their children until the age of 25, up from 18 at present, with a grace period of 90 to 180 days – significantly longer than the current 30-day period.

This would allow people much more time for job hunting or following graduation. These visas These would be granted to high achievers, investors, businesspeople and people with sought-after skills, among others.

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Abu Dhabi Emergency, Crisis and Disasters Committee has approved removing the need to quarantine for all vaccinated travellers arriving into Abu Dhabi from all international destinations and updated travel procedures, effective from Sunday, 5 September 2021.

Vaccinated travellers arriving into Abu Dhabi from all international destinations no longer need to quarantine whether from a green list country of a non-green list country.

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ADNOC has signed $1 billion (Dh3.67bn) worth of project engineering agreements with eight contractors as it looks to raise output capacity to 5 million barrels per day by 2030.

About 50% of the value is expected to flow back to the UAE economy as part of the company's in-country value programme, ADNOC said on Monday.

It also signed agreements with Kentech Group company SNC-Lavalin International Arabia Limited-Abu Dhabi, Technip Energies, Worley and a joint venture between Tecnicas Reunidas and NPCC.

The contracts cover concept and front-end engineering design for major projects across the group. The scope of the projects has been estimated on the basis of requirements for external engineering services across the group, ADNOC said.

Last week, ADNOC said it was investing $187 million to expand the production capacity of Al Nouf oilfield from 160,000 bpd to 175,000 bpd by 2024.

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The UAE was ranked 30th globally in Unido index, climbing five places since 2020 and nine places in four years, helping to attract interest of global investors.

The United Nations Industrial Development Organisation’s Competitive Industrial Performance Index report tracks 152 countries. “The UAE is on its way to becoming a global destination for pioneering future industries, enhancing its attractiveness for investments, and incentivising advanced technology,” Dr Sultan Al Jaber, the UAE’s Minister of Industry and Advanced Technology, said in a statement.

The UAE is cementing its position as a global destination for pioneering future industries and plans to double the industrial sector’s contribution to national gross domestic product to Dh300 billion by 2031 from Dh133bn currently. Known as “Operation 300bn”, the plan was launched earlier this year with a target of supporting 13,500 industrial companies in the next decade.

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Oman on Monday lifted an arrival ban on 18 countries allowing expats to travel into Oman again from 1^st September.

Oman's official committee responsible for Covid-19 has stipulated that arriving passengers must be vaccinated with two doses and the last dose is required to be at least 14 days ahead of the estimated arrival time to Oman.

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Ras Al Khaimah is allowing licensed offshore companies to carry out commercial activities within the emirate. Overseas businesses registered at RAK International Corporate Centre (RAK ICC) can engage in various activities within Ras Al Khaimah through their subsidiaries. This follows an MoU signed with RAK Department of Economic Development.

UAE’s free zones are offering attractive incentives as competition heats up to lure global businesses and investors. “Our latest partnership with RAK DED will play a key role in enhancing the competitiveness of the emirate by creating a world of business opportunities for investors and introducing innovative solutions to meet the evolving business needs of international companies,” said Sheikh Mohammed bin Humaid Al Qasimi, Chairman of RAK ICC.

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