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Dubai to double size of economy in 10 years: Sheikh Mohammed

The announcing of new economic agenda comes on his 17th Accession Day anniversary

Published: Wed 4 Jan 2023, 2:09 PM

Updated: Wed 4 Jan 2023, 3:12 PM

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File photo

A new agenda launched in Dubai aims to double the size of the emirate’s economy over the next 10 years. The Dubai Economic Agenda ‘D33’ specifies combined economic targets of Dh32 trillion by 2033. D33 aims consolidate Dubai’s position among the top three global economic cities.

It will double Dubai’s foreign trade to reach Dh25.6 trillion and add 400 cities to its trading network.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced the agenda on his 17th Accession Day anniversary.

Sheikh Mohammed said 2033 is when modern Dubai turns 200. “2033 is also when we come will complete our D33 economic journey. We know our global economic position during the coming years. The world makes way for those who know what they want.”

Taking to Twitter, he said Dubai will be among the top four global financial centres in the world. “Our goal is to attract foreign direct investments that exceed Dh700 billion within 10 years. Digital transformation will add Dh100 billion to Dubai's economy annually. We have more than 300,000 investors in Dubai and I invite everyone to join our journey to be one of the fastest growing cities in the world.”

He said Dubai's economic agenda includes 100 transformative projects, the details of which will be announced.

This isn’t the first time that Sheikh Mohammed has dedicated his Accession Day for a good cause. In 2022, he launched ‘The Great Arab Minds initiative’, a Dh100 million project to search for 1,000 Arab pioneers.

In 2017, Sheikh Mohammed announced the establishment of the UAE Food Bank, which distributes food and eliminates waste. In 2011, he highlighted the plight of orphans, spent time with a group of Emirati orphans and encouraged residents to contribute to their cause.

Over the years, he also used to occasion to highlight other important topics. In 2015, he thanked the UAE Armed forces and created the ‘Guardians of the Nation’ Arabic hashtag. In 2013, he launched a gratitude campaign to the labourers in the city – the ‘unsung heroes’. The year before that, in 2012, he urged residents to thank their mothers and to write a note of appreciation for them.

Sheikh Mohammed used the occasion to speak to the UAE residents through open letters. In 2021, he wrote an optimistic open letter in which he spoke about the challenges he faced and how he overcame them. In 2020, he wrote an open letter detailing his vision for Dubai’s next 50 years.

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