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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, presided over the first meeting of the Dubai Council, in the presence of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and First Deputy of the Dubai Council, and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and Second Deputy of the Dubai Council.

During the meeting, His Highness Sheikh Mohammed bin Rashid approved a number of decisions that include developing the "50 goals agenda" for the Emirate of Dubai for the next five years, which will be announced within 60 days, with the goals to be included in the performance agreements of general managers.

chair His Highness also approved a new system for the governance of government and semi-government companies under the supervision of Sheikh Maktoum bin Mohammed that obliges them to form boards of directors as a supreme authority, and bars CEOs from assuming board chairmanship, and obliges boards of directors to form committees to evaluate investments, manage risks and submit annual performance reports to the government.