Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, on Monday approved various projects to support the Dubai Economic Agenda D33 strategy and boost the emirate’s competitiveness and future-readiness.
The projects, approved during a meeting of the Executive Council, include a centennial sewerage system, which will include an investment of Dh80 billion ($21.8 billion), and the adoption of a new model to boost small and medium enterprises in Dubai, the Dubai Media Office said in a statement.
The centennial sewerage system aims to be among “the world’s most advanced and sustainable” infrastructure projects and has been designed to serve the needs of the population for the next 100 years, in alignment with the D33 agenda and the Dubai Urban Plan 2040.
It will reduce carbon emissions in the sector by 25 per cent, promote a circular economy and contribute to Dubai’s global development and competitiveness indicators related to quality of life.
Sheikh Hamdan has also directed Dubai Municipality to team up with private sector companies for the sewerage system, the statement said.
Launched in January, D33 aims to double the size of Dubai’s economy, with a target of reaching Dh32 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 as well as a preferred destination for major international companies and investments.
Private sector investment in projects geared towards achieving the goals of the D33 agenda is set to exceed Dh1 trillion by 2033.
As part of the new sewage system project, strategic tunnel projects will be carried out in Dubai’s Jebel Ali and Warsan stations.
The initiative includes reducing the number of main wastewater treatment plants from 20 to two in urban areas, as well as reducing main pumping stations from 13 to two. Sub-pumping stations will be reduced from 110 to fewer than 20 in urban areas, the statement said.
Sheikh Mohammed reveals 10-year plan to double size of Dubai economy
Sheikh Hamdan also approved the adoption of the future model of the Mohammed bin Rashid Establishment for SME Development (Dubai SME).
Through this strategy, the emirate aims to support innovative ideas and projects, create 86,000 new job opportunities, enable 8,000 Emirati entrepreneurs, establish 27,000 projects and contribute Dh9 billion to Dubai’s gross domestic product.
“Over the past two decades, the development of an entrepreneurial ecosystem has provided Dubai’s economy with dynamic growth based on knowledge and innovation,” Sheikh Hamdan said.
“Today, SMEs play a pivotal role, accounting for the largest share of businesses in Dubai.”
The strategy takes aim at specific sectors for Emirati entrepreneurs, with a focus on future-orientated, technology-based and scalable business models, the statement said.
These sectors include financial services, advanced manufacturing, transport, energy technology, retail and e-commerce, professional services and new business models, food and agricultural technology, health and society, and education technology.
