The Dubai Economic Agenda ‘D33’, unveiled on January 4, 2023, by His Highness Sheikh Mohammed bin Rashid Al Maktoum, aims to double Dubai’s economy by 2033 and position the city among the top three global destinations for living, investing and working.
Key Objectives:
- Economic Growth: Increase foreign trade from AED 14.2 trillion to AED 25.6 trillion over the next decade.
- Foreign Direct Investment (FDI): Boost annual FDI from an average of AED 32 billion to AED 60 billion, totalling AED 650 billion by 2033.
- Private Sector Investment: Elevate private sector investments from AED 790 billion to AED 1 trillion by 2033.
- Government Expenditure: Increase government expenditures from AED 512 billion to AED 700 billion in the next decade.
- Domestic Demand: Raise the value of domestic demand for goods and services from AED 2.2 trillion to AED 3 trillion by 2033.
- Digital Transformation: Generate an annual contribution of AED 100 billion from digital transformation projects to Dubai’s economy.
Strategic Initiatives:
- Trade Expansion: Add 400 cities as key trade partners and launch the Dubai Economic Corridors 2033 initiative to enhance trade relations with Africa, Latin America, and Southeast Asia.
- Industrial Development: Implement a green and sustainable manufacturing plan to boost the industrial sector’s value and promote export growth.
- Business Environment: Introduce the Dubai Unified Licence to provide a unique commercial identity for all companies, fostering a globally competitive business environment.
- Innovation Hub: Establish ‘Sandbox Dubai’ to enable testing and commercialization of new technologies, positioning Dubai as a major innovation hub.
- Education and Workforce: Attract top global universities and integrate 65,000 young Emiratis into the private sector, enhancing the city’s human capital.
- SME Support: Identify 400 high-potential SMEs, support their capacity building, and assist in global expansion to strengthen the private sector.
- Digital Economy: Invest in advanced technology and digital solutions to increase economic productivity by 50%, aiming to make Dubai a global leader in the digital economy.
Through these initiatives, the D33 agenda seeks to create a sustainable, diverse, and productive economy, reinforcing Dubai’s position as a leading global business hub.