Dubai Launches $6.8 Billion Investment Drive to Accelerate Economic Growth

UAE, 1 July, 2024 : Dubai's Executive Council has approved a sweeping series of initiatives aimed at propelling the emirate to the forefront of global urban economies by 2033. Chaired by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the Council announced these measures as part of Dubai's ambitious economic agenda under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum.

Key among the announcements is the Foreign Direct Investment Development Programme, earmarking AED 25 billion over a decade to attract AED 650 billion in investments. This initiative aims to bolster Dubai's position as a top global investment destination, leveraging its logistical infrastructure, strategic location, and diverse talent pool.

Additionally, Sheikh Maktoum unveiled the Dubai Economic Model, utilizing 3,000 performance indicators to monitor and drive Dubai's economic progress against its D33 targets. This integrated framework will empower decision-makers with data-driven insights to optimize policy-making and enhance economic transparency.

The Executive Council also greenlit plans to develop areas around Metro stations, enhancing economic opportunities and sustainable transport. This initiative aims to transform Dubai into a '20-minute city' with improved public spaces and increased connectivity.

Furthermore, the Council approved the 'Manbar' programme, aimed at nationalizing mosque positions by doubling citizen employment in these roles. This initiative supports social cohesion and economic empowerment under Dubai's Social Agenda 33.

Lastly, the 'Ghras Al Khair' programme will empower content creators and young influencers to promote tolerance and community values, aligning with Dubai's commitment to social stability and cultural enrichment.

These initiatives mark a significant step towards Dubai's goal of becoming a global economic powerhouse, supported by strategic investments in infrastructure, technology, and human capital development.

Source : www.zawya.com