Minister stresses intervention will be in cooperation with private sector

During his speech the minister stressed the importance for the private sector to hire UAE Nationals wherever possible. He also pointed out that a free market economy like the UAE's requires highly qualified and experienced manpower and the government will never intervene with laws or regulations without consulting the private sector industries first, as has been the case with banking and insurance.

He said that the ministry together with such organisations as Tanmia was doing everything possible to enhance the education and vocational training provided to Nationals to ensure they are fully able to contribute to private companies.

He pointed out that in the banking sector the number of National employees has increased by a factor of 148 per cent since 1997 and now stood at 23.3 per cent, 60 per cent of whom are women.

While expressing his thanks to the minister, Abdul Aziz Al Ghurair, CEO of Mashreqbank said: "In our own experience, the new generation of Emiratis is extremely keen to find worthwhile and challenging employment opportunities in the private sector and have made a value-added contribution to Mashreqbank's operations."

Launched in March 2001, MashreqForums are invitational business occasions hosted by Mashreqbank to discuss issues and topics that effect the UAE business community in order to help enhance its economic development.

Each forum is addressed by a high profiled industry speaker to a gathering of the business elite, usually in the format of a luncheon. Former speakers have included Sheikh Tarik Bin Faisal Al Qassimi, Chairman of the Economic Development Department, Government of Sharjah, Sultan Bin Sulayem, chairman of Dubai Ports and Jebel Ali Free Zone Authorities and Mohammed Ali Al Abbar, director general of the Dubai Department of Economic Development.