Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has said that public-private sector partnership is key to achieving the emirate's D33 economic agenda.
During a meeting with more than 150 business leaders, he discussed the city’s economic policies, reforms and long-term development plans, Dubai Media Office said on Wednesday.
“The strong partnerships between Dubai’s public and private sectors have led to exceptional economic outcomes in the emirate and were a key driver of its growth,” he said.
“We seek to further consolidate these partnerships and enhance the city’s business environment to support the growth of private sector companies in Dubai. New creative initiatives and solutions are vital to achieving the objectives set … in the D33 agenda for the next 10 years.”
Launched in January, D33 aims to double the size of Dubai’s economy with a target of reaching Dh32 trillion ($8.71 trillion) by 2033 and establishing the emirate among the top three global cities.
The plan envisages a programme to support 30 private companies to achieve unicorn status ― worth more than $1 billion. Other business incubators will support the growth of private companies, with 400 of the most promising identified.
D33 also 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 citizens.
The 10-year D33 strategy also seeks to establish Dubai as the world’s safest and most connected city and a preferred destination for major international companies and investments.
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 Hamdan said he was confident in the ability of both the public and private sectors to achieve the objectives of the ambitious plan.
The gathering also highlighted the various steps taken by the Dubai government to ensure continuous collaboration between the public and private sectors, the media office said.