The UAE Cabinet’s announcement for sweeping reforms is quite significant, especially given the debate that has been happening around the topic whether within the community or the Federal National Cabinet (FNC). This debate was mainly based on concerns over the demographic imbalance and how will such a move effect locals (who happen to be a minority out of a population of slightly over 9 million).
The government first hinted of its direction to attracting top talent from around the world when the UAE Vision 2021 -also known as the National Agenda- was first announced in 2010. The idea was later announced by the Ministry of HR & Emiratisation a couple of years ago. What remained till yesterday was a legislation and a mechanism for implementation (which we have yet to see).
Of course, the question now is; what short term and long term effects will this move have on the economy and the job market?