Sheikh Hamdan and Sheikh Maktoum review road map for Dubai Economic Agenda D33

Senior officials discuss importance of achieving plan's targets over next 10 years

The plan aims to double Dubai's economy in the next decade. Reuters
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Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the Executive Council, and Sheikh Maktoum bin Mohammed, Deputy Prime Minister and Minister of Finance, and Deputy Ruler of Dubai, reviewed the road map for implementing D33 and its first 10 transformational projects, Dubai Media Office said on Sunday.

A meeting of senior Dubai Government officials at the Museum of the Future discussed the way forward for implementing the Dubai Economic Agenda D33, launched last week by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

D33 aims to double the size of Dubai’s economy with a target of Dh32 trillion ($8.71 trillion) over the next decade.

The plan envisages a programme to support 30 private companies to achieve unicorn status ― worth more than $1 billion (about Dh3.67 billion). Other business incubators will support the growth of private companies, with 400 of the most promising identified.

The 10-year D33 strategy seeks to establish Dubai as the world’s safest and most connected city and a preferred destination for major international companies and investments.

“The announcement of D33 by His Highness Sheikh Mohammed further consolidates Dubai’s development journey. We are ready to start implementing His Highness’s vision immediately. 2033 will mark 200 years since the foundation of Dubai. We aim to make Dubai a global role model that can help realise people’s dreams and offer them the world’s best standard of living,” said Sheikh Hamdan.

D33 aims to make Dubai a global digital economy leader, the fastest-growing and most attractive global business centre, a centre for sustainability and economic diversification, and an incubator and enabler of talented nationals.

Sheikh Maktoum said that growing foreign trade and attracting more foreign direct investment, enhancing Dubai’s financial status, and encouraging young people to participate in new economic sectors were priorities.

“All sectors, including logistics, digital, legal, financial, and infrastructure, need to think out of the box during the next 10 years. Our ambitions today are much higher than before,” Sheikh Maktoum said.

The agenda will drive sustainable economic growth through innovative approaches. It sets ambitious goals, including raising the total value of foreign trade from Dh14.2 trillion in the past 10 years to Dh25.6 trillion and adding 400 cities as key trade partners during the next decade.

The first set of projects of D33 includes Sandbox Dubai, which aims to make Dubai a centre for incubating business innovation by enabling the testing and marketing of new products and technologies. It also includes the Dubai Traders Project, which will empower a new generation of Dubai traders in major growth sectors, driving growth in the city’s vibrant trading hub.

Sheikh Mohammed reveals 10-year plan to double size of Dubai economy

Sheikh Mohammed bu Rashid Al Maktoum. The Council of Ministers is the main engine in coordinating efforts, unifying energies, and developing policies and strategies to achieve the vision of my brother, the President of the State, may God protect him, and the aspirations of our people to build the best economic, social and development environment. We are optimistic about the new year, we are optimistic about our work teams, and we are optimistic about a better future for our country, God willing. twitter

The plan includes initiatives to empower Emirati youth with future-ready skills and aims to make Dubai a leading global centre for higher education to ensure that young Emiratis receive the highest quality of education without having to leave the country.

The first phase of the D33 projects includes launching the Dubai Green and Sustainable Industry Plan, which included benchmarking against the latest industry standards, supporting the export of green products, and adopting a framework for trading carbon credits in the Dubai Financial Market.

The plan also aims to make Dubai one of the top four global financial centres within 10 years, attracting foreign direct investments exceeding Dh700 billion.

The review meeting was attended by Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Civil Aviation Authority and Dubai Airports and chairman and chief executive of Emirates Airline and Group; Sheikh Ahmed bin Mohammed Al Maktoum, chairman of the Dubai Media Council; and Sheikha Latifa bint Mohammed Al Maktoum, chairwoman of Dubai Culture and Arts Authority (Dubai Culture), along with several ministers and senior government officials.

Updated: January 08, 2023, 4:48 PM