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ABU DHABI / WAM
The Ministerial Development Council (MDC) held its first meeting at the Presidential Palace in Abu Dhabi following the recent cabinet reshuffle
effected by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh
Mohammed bin Rashid Al
Maktoum.
In his opening remarks, H.H. Sheikh Mansour bin Zayed Al Nahyan Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the MDC, paid tribute and thanks to former members for their dedicated efforts to serve their nation and welcomed the new members of the council, previously known as the Ministerial Council for Services, renamed after UAE Cabinet endorsed its restructuring.
The MDC discussed a proposal for establishing a national coordinating council for industry, comprising representatives from the public and private sectors to improve harmonisation of federal and local entities looking after industrial affairs, unify industrial data bases, statistics and information, recommend sectoral policies and initiatives to develop key lines of production and join forces with other stakeholders to launch industrial initiatives and road shows to promote and attract investment to the industrial sector.
The MDC also discussed the policy of regulating the steel sector by launching a set of initiatives and mechanisms to
to increase its share in the national economy and diversify the national steel industry in compliance with the UAE’s obligations to the World Trade Organisation’s relevant agreements. Consolidated rules for acquisitions in the GCC stock markets were also examined.