UAE PM unveils Dubai Economic Agenda ‘D33’

The Agenda will drive sustainable economic growth through innovative approaches and sets ambitious goals, including raising the total value of foreign trade in goods and services from AED14.2 trillion in the past 10 years to AED25.6 trillion in the next decade, an official release said.

The Dubai Economic Agenda ‘D33’ aims to accelerate growth by investing in human development, skillsets and advanced technology and consolidating Dubai’s global competitiveness, innovation and knowledge-based economy.

UAE vice president and Prime Minister and ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum recently unveiled the Dubai Economic Agenda ‘D33’ with the target of doubling the size of Dubai’s economy over the next decade, and consolidating its position among the top three global cities. The value of the total targets set by ‘D33’ is AED32 trillion by 2033.

The Agenda will invest in enhancing the advantages gained from Dubai’s strategic location and its advanced infrastructure to raise the city’s status as a preferred destination for major international companies and investments. 

It also aims to raise the contribution of foreign direct investment (FDI) to Dubai’s economy from an average of AED32 billion annually in the past decade to an average of AED60 billion annually in the next decade to reach a total of AED650 billion over the next 10 years.

It will see a growth in government expenditures from AED512 billion in the past decade to AED700 billion in the next decade, with increased investment in future growth sectors and further development of traditional trade and economic sectors.

The Agenda also aims to raise the value of domestic demand of goods and services from AED2.2 trillion in the past decade to AED3 trillion in the coming decade, in line with Dubai’s vision for enhancing its vibrant trading sector and diversified economy.

Other objectives of the ‘D33’ Agenda include generating new economic value from digital transformation, at an average of AED100 billion annually.

Fibre2Fashion News Desk (DS)