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UAE firms advance with Emiratization amid economic slump

Xinhua, April 29, 2015 Adjust font size:

Local and foreign firms in the United Arab Emirates continue to hire Emirati nationals en masse to support the government's initiative of Emiratizing the labour sector to prepare it for post-oil times.

Out of the 8.8 million UAE inhabitants, over 80 percent are foreigners with individuals from 200 nations living and working in the Gulf Arab state, a major oil supplier.

However, according to Abu Dhabi crown prince Sheikh Mohammed Bin Zayed earlier this year, the country will run out of oil by 2050.

Hence the government is eager to increase Emirati shares in both the public and private sectors, and transform the state into a knowledge-based economy, even after the oil price slump which recently led the international monetary fund (IMF) to cut its growth forecast for the UAE economy to 3.2 percent, down by 0.3 percent from its earlier forecast in January 2015.

Nevertheless, the impact on recruitment has not been severe. Online recruitment activity in March was 17 percent higher year-on-year, UAE daily The National reported earlier Tuesday, quoting the online job search firm Monster.com.

Progress is visible across sectors as the UAE is the Arab world's most diversified economy, according to the IMF.

"At Emirates Airline, we employ 2,700 Emirati nationals out of 60,000 employed worldwide," Abdul Aziz Al-Ali, human resources executive vice president at the state-owned airliner told Xinhua.

He added that Emiratization is high on the carrier's agenda. There was a time when only a handful of pilots were locals, "but today we are proud to employ 400 UAE nationals, among them six Emirati female pilots," he said.

Abdul Aziz gave Xinhua an interview at the ongoing 15th annual UAE Careers fair and exhibition opened earlier today by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy ruler of Dubai.

Taking place at the Dubai World Trade Centre from April 28 to April 30 2015, the exhibition attracted over 160 private and public sector companies.

Additionally, most ministries, well-known firms such as developer Nakheel (builder of the man-made island palm Jumeirah), Emirates Global Aluminum and telecom giant Etisalat, the most valuable UAE firm, are present.

At the stand of UAE's biggest bank, Emirates NBD, Xinhua learnt that the lender will hire 300 Emirati nationals this year, with 56 percent of the existing local workforce being female.

The UAE government has set a target of a 40 percent Emirati workforce for local banks.

Despite the fall in oil, Emirates NBD CEO Shayne Nelson said that Iran's probable comeback on the world trade stage after an anticipated lifting of sanctions would boost the UAE economy, traditionally Iran's closest regional trading partner.

The three-day UAE Careers Fair runs through Thursday. Endit