Last Updated on: 1st July 2023, 05:43 pm
Dubai Plans To Double its Economy With A Massive $8.7 Trillion Plan
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 (US$8.7 trillion).
On his 17th anniversary as ruler of Dubai, Vice President and Prime Minister (PM) of the United Arab Emirates (UAE) Sheikh Mohammed bin Rashid Al-Maktoum announced Dubai’s key economic agenda, dubbed D33, in a series of tweets.
On the agenda, Sheikh Mohammed said Dubai’s economy will double in the next ten years, making it one of the top 3 metropolises in the world. In his long Twitter post, he also revealed that the main goals will be achieved through 100 transformative initiatives.
Furthermore, he pointed out that digital development will bring AED 100 billion to Dubai’s economy every year and commented that Dubai has more than 300,000 investors who would like to join Dubai’s journey to become one of the “fastest growing cities in becoming the world”.
Speaking in more detail about the plan, Sheikh Mohammed argued that Dubai is poised to position itself as the world’s leading economic center because the world is making way for those with a roadmap.
The first phase of the new economic program includes the following transformation projects:
- Double the size of Dubai’s foreign trade and include 400 cities on the Dubai Global Trade Map.
- Launch of the Dubai Green and Sustainable Production Plan.
- Launch of Future Economic Corridors 2033 in partnership with Africa, Latin America, and Southeast Asia.
- He grew 30 companies into unicorns (worth over $1 billion).
- Integration of 65,000 young Emiratis into the labor market.
- Launch of the Dubai Traders project.
- Introduced a unified license to grant a single commercial identity to all metropolitan businesses.
- Launch of Sandbox Dubai to enable testing and commercialization of innovative technologies.
- Project to bring the best universities in the world to Dubai.
- Expansion of 400 small and medium-sized enterprises (SMEs).
Also Read: Dubai is Launching Several Express And Tourist Buses