Dubai Economic Agenda D33 Launched for Next 10 Year

Dubai Economic Agenda – D33

H.H. Sheikh Mohammed, UAE’s Prime Minister launched the Dubai Economic Agenda ‘D33’ a few days back. The ‘D33’ aims to increase the size of Dubai’s economy by twice its current value reaching total economic targets of AED 32 trillion over the next 10 years. With the ‘D33’ initiative, Dubai aims to position itself as among the top three growing global cities.

The year 2033 will mark 200 years since the foundation of Dubai. H.H. Sheikh Mohammed plans to make this year a milestone by positioning Dubai as the most important global business center. Dubai also plans to rank as one of the top four global financial centers with an increase in FDI to over AED 650 billion over the next decade. Dubai is also expected to see over 300,000 global investors helping Dubai transform into the fastest-growing global city.

Dubai – Ideal Environment for Investment

The ‘D33’ Agenda includes the launch of innovative projects making Dubai the world’s best city to live and work. The agenda aims to accelerate growth by investing in human development and advanced technology and consolidating Dubai’s global competitiveness. It 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 investors. Dubai is currently rated as the top destination among foreign investors globally. Likewise, the emirate has also witnessed a record increase in the high net worth individuals from 54,000 in 2021 to 67,900 in 2022.

The new Dubai Economic Agenda will include 100 transformative projects and aims to double the city’s foreign trade to AED 25.6 trillion and add 400 cities as key trading partners over the next decade. The contribution of Foreign Direct Investment (FDI) to Dubai’s economy is set to increase from nearly AED 32 billion to AED 60 billion annually in the next decade to reach a total of AED 650 billion over the next 10 years. 

D33 Objectives

Some of the major agendas of D33 is to see a growth in government expenditures from AED 512 billion in the past decade to AED 700 billion in the next decade. The impetus is to increase investment in future growth sectors and further develop traditional economic sectors. Similarly, it will play a pivotal role in raising the competitiveness of Dubai’s thriving business sector, which will enable the increase of private sector investment from AED 790 billion in the past decade to AED 1 trillion by 2033.

It will 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 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 AED 100 billion annually. 

The Dubai Economic Agenda 2033 focuses on raising the value of the industrial sector and promoting export along with achieving self-sufficiency in key sectors 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 centers. In 2021, Dubai topped the global ranking in attracting FDI into the financial services sector surpassing cities like London, Singapore, New York and Paris. The agenda also seeks to increase the productivity of Dubai’s economy by 50 percent through innovation and digital solutions.

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