Introduction of a New Economic Model for Dubai’s Growth
Abu Dhabi: Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, announced the approval of a new Foreign Direct Investment Development Programme. This initiative aims to attract Dh650 billion in investments to Dubai by 2033 by earmarking Dh25 billion over the next 10 years.
Under the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the guidance of Sheikh Hamdan bin Mohammed Al Maktoum, the Executive Council has approved the Foreign Direct Investment Development Programme, which aims to attract AED650 billion of investments to Dubai… pic.twitter.com/RmTl7gMNSR
— Maktoum Bin Mohammed (@MaktoumMohammed) June 30, 2024
Strategic Vision and Support from Dubai’s Leadership
“Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the directives of Sheikh Hamdan bin Mohammed Al Maktoum, the Executive Council has approved the Foreign Direct Investment Development Programme. This program aims to draw Dh650 billion in investments to Dubai by 2033 by allocating Dh25 billion over the next decade to support Dubai’s ambitious plans,” stated Sheikh Maktoum bin Mohammed.
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New Dubai Economic Model to Track Progress and Boost Confidence
Additionally, Sheikh Maktoum announced the approval of the Dubai Economic Model. This model will measure Dubai’s development against its economic targets using a comprehensive economic database with more than 3,000 indicators. The goal is to enhance consumer and investor confidence in the region.
Focus on Sustainability and Quality of Life
As part of the initiative, a framework plan for areas surrounding Metro stations was also approved. This plan aims to promote sustainability and improve the quality of life in Dubai.
Conclusion
Dubai’s new economic strategy, backed by substantial investment and comprehensive planning, sets a clear path for significant growth and development. The city’s leadership is committed to fostering a robust economic environment, enhancing investor confidence, and promoting sustainable living.
