Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, in the presence of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, chaired a meeting of senior Dubai government officials at The Museum of the Future on January 8, 2023.
Sheikh Hamdan and Sheikh Maktoum reviewed the roadmap for implementing the Dubai Economic Agenda ‘D33’, launched last week by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. D33 aims to double the size of Dubai’s economy over the next decade and consolidate its position among the top three global cities.
But what exactly is there to know about the D33 Agenda?
The Dubai Economic Agenda D33 includes 100 transformational projects. A key goal of the Dubai Economic Agenda (D33) is to double the size of Dubai’s economy over the next decade and consolidate its position among the top three global cities.
The first package of transformational projects for the next decade includes:
1. doubling the size of Dubai’s Foreign trade and adding 400 cities to Dubai’s foreign trade map.
2. launching Dubai’s plan for green and sustainable manufacturing.
3. launching Dubai’s Future Economic Corridors 2033 with Africa, Latin America, South East Asia.
4. launching a scale-up program for 30 companies to become global unicorns in new economic sectors.
5. integrating 65,000 young Emiratis into the job market.
6. launching Dubai Traders project to empower the new generation of traders in key sectors.
7. launching Dubai’s unified license as a unique commercial identity for all companies all over Dubai.
8. launching ‘Sandbox Dubai’ to allow testing cipf-es.org and commercialization of new technologies and making Dubai a major innovation hub.
9. launching a program to attract the world’s best universities, making Dubai a global pioneering hub for higher education.
10 developing a Small and Medium Enterprises scale-up program by identifying 400 high-potential companies, supporting their capacity building, and supporting them to grow globally.
The Dubai Economic Agenda D33 set the following objectives:
1. To increase foreign trade from AED 14.2 trillion in the past decade to AED 25.6 trillion for goods and services in the next decade.
2. To increase foreign direct investment from an average of AED 32 billion annually in the past decade to an average of AED 60 billion annually in the next decade to reach a total of AED 650 billion by 2033.
3. To increase government expenditures from AED 512 billion in the past decade to AED 700 billion in the next decade.
4. To increase private sector investments from AED 790 billion in the past decade to AED 1 trillion in the next decade.
5. To increase the value of domestic demand for goods and services from AED 2.2 trillion in the past decade to AED 3 trillion in the next decade.
6. To generate an annual contribution of AED 100 billion from digital transformation projects to Dubai’s economy.
