- Secrets of Success – 8 Principles of Sheikh Mohammed Bin Rashid Al Maktoum's Governance

Secrets of Success – 8 Principles of Sheikh Mohammed Bin Rashid Al Maktoum's Governance

Secrets of Success – 8 Principles of Sheikh Mohammed Bin Rashid Al Maktoum's Governance

In January 2019, there was the 50th anniversary when His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the ruler of Dubai and the Prime Minister of the United Arab Emirates, began his work in the government structures. Thus, His Highness began his public service on November 1, 1968, and his first position was Chief of Police and Public Security Services of the Emirate of Dubai. After 38 years, he became the Governor of the Emirate, replacing Maktoum ibn Rashid Al Maktoum and since then has been the constant head of the UAE Government, as well as the Vice President of the country.

During his reign, the country experienced a real boom in the economy, significantly increasing its own production and trade, strengthening the banking sector and the tourism sector, having achieved significant success in diversifying the economy. Sheikh made considerable efforts to ensure that the country became safe and comfortable for living not only for citizens but also for foreign residents.

Our article is devoted to the eight principles of governance which the Sheikh uses in his work. So, here they are:

  • The union is the basis of the UAE. As it is known, the UAE is a federal state, consisting of 7 Emirates and Dubai, one of them is an integral part of the country, one of the main strongholds of the federation. Its fate and welfare are closely related to the fate of the whole country. Thus, regional differences that exist between citizens of the seven Emirates should not become bigger than the strength of their unity, and the interests of the union should be above any local interests, local laws will not stand above the laws of the union, and Dubai’s policy will be consistent with the UAE’s general policy. “United we stand” is the central message of the head of Government.
  • The rule of law. Order and justice are the basis which any healthy country stands on. They guarantee prosperity and stability. No one can and will stand above the laws in Dubai, not even the ruling monarch. In the laws of the country, there are no differences between citizens and residents of the country, men and women, the poor and the rich, representatives of different religious movements. If we assume that someone can violate the law and not observe the general order, injustice and chaos will quickly reign in the country. This can not be allowed. Sheikh believes that injustice is a threat to justice.
  • The UAE is the capital of business. The government of the country is making great efforts to develop the local economy and improve the business environment, while Dubai remains politically neutral, not joining military alliances, which is intended to ensure peace and stability. Making the UAE the best place in the world for doing business with endless opportunities for entrepreneurs is the crucial task of the Government and the Sheikh.
  • Growth factors. The growth of the Emirate welfare is based on three key factors: the stable work of the government; active and open private sector; the competitiveness of state-owned business structures that generate revenues for the government, provide jobs for local citizens and create assets for future generations.
  • The openness of local society. Residents of the UAE ere the open society which respects other peoples and cultures. Tolerance and openness are the foundation which keeps the United Arab Emirates, the country, 85% of the population of which are expats.
  • Work on the diversification of the economy. For the recent years, this country has come a long way from being entirely dependent on oil and gas markets to the world center of business, tourism, and large infrastructure projects, the financial center of the region. Diversification of the economy is the core of this movement. Dubai's Emir sets a new ambitious goal – to create a new productive economic sector every three years, thus the diversification process is not complete yet!
  • The land of talent. The success of the UAE is based on talented and creative people: engineers and scientists, artists, merchants and managers, and dreamers. The sustainability of the Emirate development, its competitiveness in the world market directly depends on the ability to attract qualified and talented people to the local economy.
  • Care for future generations. The fate of future generations should not depend on crises and market fluctuations or regional policy. The government is now working to create valuable assets for them today. Sheikh has set a very ambitious goal – under any circumstances the local government should own various economic assets, the total value of which shall exceed the annual budget at least 20 times.

Following these principles is intended to make the UAE the best country in the world to live and do business, and we believe that Sheikh Mohammed will succeed. Indeed, up to date, following these principles clearly brings the results, and this is obviously only the beginning of the country's path to the goals set.

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