Dubai’s 7 Billion Investment Programme aimed at Strengthening its Position as a Global Economic Powerhouse

Dubai’s Executive Council has given the green light to the Foreign Direct Investment Development Programme, a bold initiative aiming to attract a staggering Dh650 billion (7 billion) in investments by 2033. This ambitious goal solidifies Dubai’s position as a key player in the global economy.

With a commitment of Dh25 billion (.8 billion) over the next decade to support the objectives of the D33 economic agenda, Dubai is set to revolutionize its economic landscape. Sheikh Maktoum bin Mohammed, Deputy Prime Minister and Minister of Finance of Dubai, highlighted the strength of Dubai’s economic foundation, emphasizing its ability to make strategic decisions, create diverse opportunities, and draw in top global talent and investments.

At the core of this initiative is the innovative Dubai Economic Model, which utilizes a vast database of 3,000 performance indicators to meticulously track Dubai’s progress towards economic goals. This model serves to enhance consumer and investor confidence, paving the way for sustainable economic growth.

The FDI Development Programme is specifically designed to attract foreign enterprises and facilitate the expansion of existing multinational corporations in Dubai. This strategic move aligns with Dubai’s vision to become one of the top three global economic hubs. The emirate’s numerous competitive advantages, such as state-of-the-art logistics infrastructure, strategic geographic location, and a highly skilled workforce, further solidify its position as a premier international business destination.

Dubai’s strategic positioning has already attracted significant attention from investors worldwide. The allure of Dubai as a hub for global business is undeniable, with its dynamic economy, supportive business environment, and modern infrastructure making it an attractive choice for companies looking to expand their operations.

This groundbreaking initiative is a testament to Dubai’s forward-thinking leadership and its dedication to fostering economic growth and prosperity in the region. By setting ambitious targets and implementing innovative strategies, Dubai is poised to become a global economic powerhouse in the years to come.

In conclusion, the Foreign Direct Investment Development Programme represents a significant milestone in Dubai’s economic development journey. With a clear vision and comprehensive strategy in place, Dubai is well-positioned to achieve its goal of becoming one of the world’s leading economic centers by 2033.

Source: Sunil Singh / The National