The United Arab Emirates (UAE) has introduced a new system for end-of-service benefits for workers in the private sector and free zones, as part of a broader initiative aimed at safeguarding workers’ savings while promoting investment. This move, announced by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is designed to ensure that workers’ savings, representing the end of their services in operating companies, are invested safely to guarantee their rights and the stability of their families. The new system not only benefits private sector workers but also allows government sector employees to participate in it.
In addition to the new system for end-of-service benefits, the UAE government approved several other key measures during a cabinet session, including:
1. **Regulation of Heavy Vehicles:** The government issued a federal law to regulate the weights of heavy vehicles on the country’s roads. Heavy vehicles with a maximum total weight exceeding 65 tons will be prohibited from using state roads, with the regulation set to take effect at the start of the next year. This measure aims to preserve the nation’s advanced infrastructure and enhance road safety.
2. **Establishment of the Office of the Federal Regulator for the Water and Electricity Sector:** The cabinet meeting saw the establishment of the Office of the Federal Regulator for the Water and Electricity Sector. This office will oversee electricity and water trade among the emirates of the country and across borders, as well as regulate the production, transmission, and distribution of electricity and water within the nation. It will operate under the Ministry of Energy and Infrastructure’s purview.
3. **New Rewards and Incentives System:** The federal government introduced a new rewards and incentives system to promote excellence and bolster the legislative framework. The initiative categorizes financial and non-monetary rewards into three distinct groups, each designed to recognize and motivate employees at different levels of achievement. This flexible rewards system aims to encourage competitiveness and excellence among the federal government workforce.
4. **11 New Federal Laws:** The Council of Ministers will issue 11 new federal laws, covering various aspects of society, the economy, health, and technology. These laws encompass areas such as e-commerce, media regulation, assisted reproduction, and the regulation of the space sector. One of the most significant measures is the Human Genome Use Law. These legislative measures aim to create an optimal legislative environment in the UAE to promote social stability, economic growth, and an improved quality of life.
The UAE continues to prioritize policies aimed at enhancing the welfare of its workforce, fostering economic stability, and addressing key regulatory and legislative needs across various sectors.
