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DUBAI: The United Arab Emirates will introduce a form of unemployment insurance, the cabinet said on Monday, the latest reform by the Gulf country as it strives to attract talent and investment amid increasing regional economic competition.

Insured workers would receive some money for a limited time period if made unemployed, UAE Prime Minister and Vice-President Sheikh Mohammed bin Rashid al-Maktoum, who is also ruler of Dubai, said on Twitter, citing a cabinet decision.

The statement did not specify whether this would apply equally to citizens and non-citizen residents in the UAE.

Greece, UAE agree joint investments in energy, other sectors

"The intention is to strengthen labour market competitiveness, provide a social umbrella for workers and establish a stable working environment for all," the statement said.

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