Dubai has officially unveiled its incredible economic plan under which it intends to double the size of its economy by 2033 with total investments of AED 32 trillion ($8.7 trillion).
Marking his 17th anniversary as Dubai’s Ruler, Vice President, and Prime Minister (PM) of the United Arab Emirates (UAE), Sheikh Mohammed bin Rashid Al-Maktoum, announced the massive Dubai Economic Agenda called D33 in a series of tweets.
Dubai will rank as one of the top four global financial centers with an increase in FDI to over AED 650 billion over the next decade. Over 300,000 global investors are helping build Dubai into the fastest growing global city pic.twitter.com/keoH7h2eik
— HH Sheikh Mohammed (@HHShkMohd) January 4, 2023
Under the agenda, Sheikh Mohammed stated that Dubai’s economy will be doubled over the next ten years, making it one of the top three global metropolitans. In his extensive Twitter post, he also revealed that the main targets will be attained via 100 transformative initiatives.
In addition, he noted that digital evolution will also bring AED 100 billion into Dubai’s economy each year and remarked that Dubai has over 300,000 investors who are invited to join Dubai’s journey to becoming one of the “fastest-growing cities in the world.”
Speaking further about the plan, Sheikh Mohammed maintained that Dubai is all set to position itself as the leading global economic hub because the world gives way to those who have a roadmap.
The new economic agenda includes the following transformational projects in the first phase:
- Double the size of Dubai’s foreign trade and include 400 cities in Dubai’s global trade map.
- Debut of Dubai’s green and sustainable production plan.
- Launch of Future Economic Corridors 2033 in partnership with Africa, Latin America, and South East Asia.
- Development of 30 companies to make them unicorns (worth over $1 billion).
- Integration of 65,000 Emirati youth into the job market.
- Launch of Dubai Traders project.
- Launch of a unified license to grant a unique commercial identity to all companies in the metropolis.
- Debut of Sandbox Dubai to enable testing and commercialization of innovative technology.
- Project to bring top universities of the world to Dubai.
- Expansion of 400 small and medium enterprises (SMEs).