Dubai Ruler launches Dubai Economic Agenda with economic targets of AED 32 trillion over the next 10 years
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has launched the Dubai Economic Agenda, D33, with the ambitious goals of doubling the size of Dubai's economy over the next decade, and consolidating its position among the top three global cities.
H.H. Sheikh Mohammed bin Rashid said, “In line with our long-standing tradition of launching key new initiatives on 4 January, we approved the Dubai Economic Agenda ‘D33’ that aims to double the size of Dubai’s economy in the next decade and consolidate its position among the top three global cities. 2033 will mark 200 years since the foundation of Dubai: the year in which Dubai will be the most important global business centre, and by then we would have completed the D33 Agenda. We know our economic path over the next decade. The world makes way for those who know what they want.”
The Dubai Economic Agenda includes 100 transformative projects, with economic targets of AED32 trillion over the next 10 years, doubling foreign trade to reach AED25.6 trillion and adding 400 cities as key trading partners over the next decade.
Sheikh Mohammed added, “Dubai will rank as one of the top four global financial centres with an increase in FDI to over AED650 billion over the next decade and an annual AED100 billion contribution from digital transformation. Over 300,000 global investors in Dubai today are helping build Dubai into the fastest growing global city.”
The D33 Agenda includes the launch of innovative projects that will help achieve H.H. Sheikh Mohammed’s vision to make Dubai the world’s best city to live and work in. The value of the total targets set by the Dubai Economic Agenda is AED32 trillion by 2033. The Agenda will drive sustainable economic growth through innovative approaches and aims to accelerate growth by investing in human development, skillsets and advanced technology and consolidating Dubai’s global competitiveness, innovation and knowledge-based economy.
The Dubai Economic Agenda 2033 focuses on a set of key priorities for the next decade, including raising the value added of the industrial sector and promoting export growth, contributing to 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 logistic hubs in the world, and one of the top four global financial centres. The Agenda also seeks to increase the productivity of Dubai’s economy by 50 percent through innovation and digital solutions.
Agenda 2033 is to make Dubai one of the top three international destinations for tourism and business by providing a globally competitive environment for business sustainability and driving down the cost of doing business across a number of sectors. The Dubai Economic Agenda D3’ seeks to add 400 cities as key trade partners and launch the Dubai Economic Corridors 2033 initiative, which will enhance existing foreign trade relations with Africa, Latin America and Southeast Asia.
The Agenda will include a programme to support the growth of 30 companies in new sectors to become global unicorns, and integrate 65,000 young Emiratis into the workforce and the private sector. The Dubai Traders Project (DT33) will empower a new generation of Dubai traders in various major growth sectors, driving growth in the city’s vibrant trading hub.
The first set of projects of the Agenda also include the Dubai Unified License that will provide a unique commercial identity for all companies across economic zones, and ‘Sandbox Dubai’, which aims to make Dubai a major hub for incubating business innovation by enabling the testing and marketing of new products and technologies.