From World's Top Institutions To Fastest Global City: Here's All About Dubai Economic Agenda 'D33'

The Dubai government has recently launched the Dubai Economic Agenda (¡®D33¡¯) with a view to grow the economy of Dubai by 2033 and position itself in one of the topmost global cities in the world.

Located at the crossroads of Asia, Europe and Africa, Dubai has been a major gateway for international trade and commerce. Since 1971, Dubai¡¯s economy has flourished and diversified with the support of a range of industries such as tourism, real estate, construction, oil and natural gas, financial services, and logistics to name a few.

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First set of projects

The Dubai Economic Agenda D33 includes 100 transformational projects. The first package of transformational projects for the next decade includes:

1. Doubling the size of Dubai's Foreign trade and adding 400 cities to Dubai's foreign trade map
2. Launching Dubai's plan for green and sustainable manufacturing
3. Launching Dubai's Future Economic Corridors 2033 with Africa, Latin America, South East Asia
4. Launching a scale-up programme for 30 companies to become global unicorns in new economic sectors
5. Integrating 65,000 young Emiratis into the job market
6. Launching Dubai Traders project to empower the new generation of traders in key sectors
7. Launching Dubai's unified licence as a unique commercial identity for all companies all over Dubai
8. Launching ¡®Sandbox Dubai¡¯ to allow testing and commercialisation of new technologies and making Dubai a major innovation hub
9. Launching a programme to attract the world's best universities, making Dubai a global pioneering hub for higher education
10. Developing a Small and Medium Enterprises scale-up programme by identifying 400 high-potential companies, supporting their capacity building, and supporting them to grow globally.

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Priorities for the next decade

The Dubai Economic Agenda 2033 focuses on a set of key priorities for the next decade, including raising the value added of the industrial sector and promoting export growth, contributing to sustainable economic growth, and achieving self-sufficiency in several key sectors and industries, including manufacturing.

Other key priorities include making Dubai one of the five leading logistic hubs in the world, and one of the top four global financial centres. The agenda also seeks to increase the productivity of Dubai¡¯s economy by 50 per cent through innovation and digital solutions.

Moreover, the agenda aims to integrate new generations of Emiratis into the private sector, making Dubai a hub for skilled workers, the fastest growing and most attractive global business centre, and an international hub for global multinational companies (MNCs) and national SMEs.

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Another key priority of the ¡®D33¡¯ Agenda is to make Dubai one of the top three international destinations for tourism and business by providing a globally competitive environment for business sustainability and driving down the cost of doing business across several sectors.

The ¡®D33¡¯ agenda aims to enhance the city¡¯s position as a fast-growing and attractive business hub with world-class quality of life and ensure the highest levels of security and safety for Dubai¡¯s citizens and residents.

Objectives behind D33

The Dubai Economic Agenda D33 set the following objectives:

1. to increase foreign trade from AED 14.2 trillion in the past decade to AED 25.6 trillion for goods and services in the next decade
2. to increase foreign direct investment from an average of AED 32 billion annually in the past decade to an average of AED 60 billion annually in the next decade to reach a total of AED 650 billion by 2033
3. to increase government expenditures from AED 512 billion in the past decade to AED 700 billion in the next decade
4. to increase private sector investments from AED 790 billion in the past decade to AED 1 trillion in the next decade
5. to increase the value of domestic demand for goods and services from AED 2.2 trillion in the past decade to AED 3 trillion in the next decade to generate an annual contribution of AED 100 billion from digital transformation projects to Dubai's economy.

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Many sectors and businesses are anticipated to see increased competition and growth because of the main projects and activities under the D33 Agenda. Additionally, as Dubai develops as a centre of finance and innovation, demand for goods and services from the Emirate will exponentially increase in the forthcoming years. With the D33 Agenda, Dubai has once again established its vision to be a leading market-hub for all major and upcoming industries.

Indian companies are also moving to Dubai.

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