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His Excellency Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, unveiled the Dubai Economic Agenda ‘D33’ with the ambitious goal of doubling the size of its economy within the next decade , and consolidate its position among the top three global cities, Wam reports.
The launch of the D33 agenda was part of the Prime Minister’s annual address today (January 4) on his Inauguration Day.
It includes launching innovative projects that will help realize Sheikh Mohammed’s vision of making Dubai the best city in the world to live and work in. The overall target value set by Dubai’s economic agenda “D33” is AED32 trillion (US$8.7 trillion) by 2033, the report said.
It added that the agenda will drive sustainable economic growth through innovative approaches.
In his speech, Sheikh Mohammed said: “In line with our long tradition of launching key new initiatives on January 4, today we approved the Dubai Economic Agenda ‘D33’, which aims to double the size of the Dubai economy over the next decade and cement its position among the top three cities in the world.”
He noted that D33 also included goals such as doubling foreign trade to AED25.6 trillion in the next decade and adding 400 cities as major trading partners.
The ruler of Dubai stated that the emirate will become one of the four major financial centers in the world. FDI will increase to more than 650 billion dirhams in the next ten years, and digital transformation will contribute 100 billion dirhams per year.
“Today more than 300,000 global investors in Dubai are helping to establish Dubai as the fastest growing global city,” said the Prime Minister.
“2033 will be the 200th anniversary of Dubai: the year Dubai will become the most important global business center and we will complete the D33 agenda. We know the economic path of the next decade. The world is for those who know what they want provided,” he added.
The Dubai Economic Agenda aims to accelerate growth by investing in human development, skills mix and advanced technologies, and underpin Dubai’s global competitiveness, innovation and knowledge-based economy.
It will invest in enhancing the advantages gained from Dubai’s strategic location and advanced infrastructure to enhance the city’s position as a preferred destination for large international companies and investments.
Wam reports that the ‘D33’ agenda will see government spending rise from AED512 billion over the past decade to AED700 billion over the next decade, alongside increased investment in future growth sectors and further expansion of traditional trade and economic sectors. develop.
One of the key objectives of the ‘D33’ agenda is to increase the competitiveness of the city’s thriving business sector, which will see private sector investment increase from AED790 billion over the past decade to AED1 trillion by 2033.
The ‘D33’ agenda also aims to increase the value of domestic demand for goods and services from AED2. A vision for a diversified economy, it said.
Other goals of the “D33” agenda include generating new economic value through digital transformation, averaging AED100 billion per year.
The digital economy is a major pillar of the agenda and Dubai is entering a new phase that seeks to pioneer and sustain economic growth based on knowledge, innovation and future technologies, the report said.
The Dubai Economic Agenda 2033 focuses on a series of key priorities for the next decade, including increasing value addition and boosting export growth in the industrial sector, promoting sustainable economic growth, and achieving self-sufficiency in a number of key sectors and industries, including manufacturing.
Other key priorities include making Dubai one of the five leading logistics centers in the world, and one of the top four financial centers in the world.
The agenda also seeks to increase the productivity of Dubai’s economy by 50 percent through innovation and digital solutions.
Furthermore, the agenda aims to integrate a new generation of Emiratis into the private sector, making Dubai a hub for skilled workers, the fastest growing and most attractive global business hub, and an international center for global multinational corporations (MNCs) and domestic SMEs ,this Wow Report.
Another key priority of the ‘D33’ agenda is to make Dubai one of the top three international tourism and business destinations by providing a globally competitive environment for sustainable business development and reducing the cost of doing business across multiple sectors. The ‘D33’ agenda aims to enhance Dubai’s status as a fast-growing and attractive business hub with a world-class quality of life, and to ensure the highest level of security for Dubai citizens and residents.
Dubai’s economic agenda “D33” seeks to add 400 cities as major trading partners and launch the Dubai Economic Corridor 2033 plan, which will strengthen existing foreign trade ties with Africa, Latin America and Southeast Asia.
The agenda will include a plan to support 30 companies in new industries to grow into global unicorns and integrate 65,000 young Emiratis into the workforce and private sector.
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