Dubai Launches $6.8 Billion FDI Incentive Programme to Propel Economic Growth

UAE, 3 July, 2024 :  The Executive Council of Dubai has approved a Foreign Direct Investment (FDI) Development Programme, allocating AED25 billion ($6.81 billion) in incentives over 10 years. This initiative aims to attract AED650 billion ($176.97 billion) in investments by 2033 as part of the D33 economic agenda.

The programme seeks to draw international companies to Dubai and support the expansion of existing ones. It will highlight Dubai’s competitive advantages, including its logistics infrastructure, strategic location, talent pool, and status as a global commercial hub.

The council, chaired by HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, announced new initiatives to support Dubai's goal of becoming one of the world’s top three urban economies by 2033. Sheikh Maktoum emphasized Dubai’s advanced economic model and its ability to attract global investment.

The Dubai Economic Model, featuring 3,000 performance indicators, will closely monitor the city's development against economic targets. Sheikh Maktoum highlighted Dubai's success in urban planning and sustainable transport, making it one of the best places to live and work.

The model will use a comprehensive framework, interactive dashboards, and policy impact assessment reports to track economic progress. It includes a database with over 3,000 indicators, systems to measure economic performance, and tools to assess the impact of policies on Dubai’s economy.

These measures aim to enhance decision-making, increase transparency, and boost investor confidence. The Department of Economy and Tourism will oversee the model, with the Dubai Digital Authority streamlining data management processes and using AI to enhance capabilities.

Source : www.zawya.com