The city has estimated that by 2040, Dubai will reach a population of 5.8 million, almost doubling the number of people that live there currently

Such improvements will slash the transit time on Umm Suqeim Street in the sector between Mohammed bin Zayed and Al Khail Roads from 18 to 7 minutes.

Cabinet decision paves the way for long-term stays and seemingly means companies based outside of free zones to no longer require an Emirati partner.

Major changes to the way expats are employed, their legal residency status and the ability for foreign companies to be owned without a local partner were outlined on Sunday night.

The decision by the UAE Cabinet could have far reaching consequences - but raises many complex questions.

As businesses, government officials and the UAE's workforce await more details of a plan said to be ready by the end of 2018, here's what we know so far.

What was announced on Sunday night?

In a benchmark of Dubai against other key global cities such as London and New York, the city lagged against rivals on issues such as the ease of doing business, but had the best ranked infrastructure of any country listed.

According to data compiled by property consultancy Knight Frank in its annual Global Hub Report, the UAE vastly outperformed every other country in the region when it came to the number of sea freight and international passenger numbers.

The study assesses a country’s strength as a hub for doing business. Other countries benchmarked include Australia, the UK, China, Singapore and the US.

Air freight was also a strong area for Dubai, ranking third behind the US and China, with 16.7 million ton-km.

Dubai’s economic growth is forecast to accelerate in 2019 and reach 3.7 per cent as infrastructure development and diversification policies continue apace, said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai said.