AED25 billion in new investment incentives announced at Executive Council meeting

DUBAI: The Executive Council of Dubai has approved new initiatives and programs of investments to support its goal of becoming one of the world’s top three urban economies by 2033.

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and Deputy Chairman of The Executive Council of Dubai announced the Foreign Direct Investment Development Programme, which earmarks AED25 billion over 10 years to help attract AED650 billion of investments to Dubai in direct support of the objectives of the D33 economic agenda.

Key Initiatives and Programmes:

• Foreign Direct Investment (FDI) Development Programme:
  • AED25 billion in incentives over 10 years.
  • Aims to attract AED650 billion in investments by 2033.
  • Supports Dubai’s D33 economic agenda.
  • Focuses on attracting international companies and expanding existing ones.

• Dubai Economic Model:
  • Uses 3,000 performance indicators to track progress.
  • Features an integrated framework and interactive dashboards.
  • Aims to enhance decision-making and transparency.
  • Overseen by the Department of Economy and Tourism and Dubai Digital Authority.

• Metro Station Area Development Plan:
  • Expands development around Metro stations.
  • Aims to enrich economic opportunities and improve public transport efficiency.
  • Includes incentives for developers and aims to increase public transport use to 45%.
  • Seeks to reduce carbon emissions, improve public spaces, and encourage walking.

• ‘Manbar’ Programme:
  • Appoints local imams as part of nationalisation efforts.
  • Aims to double the number of citizens working in mosques.
  • Provides training for delivering prayers, the call to prayer, and Friday sermons.
  • Supports Dubai Social Agenda 33, fostering strong and tolerant families.

• ‘Ghras Al Khair’ Programme:
  • Empowers content creators and young influencers.
  • Promotes values of tolerance, harmony, and national identity.
  • Supports educational initiatives and community awareness.
  • Aims to increase awareness of cultural values among young people.

These initiatives collectively aim to enhance economic model of Dubai, attract significant investments, and promote social stability and cultural values. The Council’s efforts underscore Dubai’s commitment to sustainable development and improving the quality of life for its residents.

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