Dubai has announced ambitious plans to double the size of its economy over the next decade, as part of its new Dubai Economic Agenda (D33). The emirate’s rulers aim to cement its position as one of the top three global economic cities and have set combined economic targets of AED 32 trillion ($8.7 trillion) by 2033.
As part of the agenda, Dubai aims to double its foreign trade to reach AED 25.6 trillion, and expand its trading network to include 400 cities. The emirate also hopes to attract foreign direct investments of over AED 700 billion within the next 10 years, with digital transformation expected to contribute an additional AED 100 billion to the economy annually.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai, announced the agenda on the occasion of his 17th Accession Day anniversary.
“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,” said His Highness.
In the past, Sheikh Mohammed used his Accession Day to highlight important causes for Dubai and the UAE as a whole. This included launching initiatives such as the Great Arab Minds project, which aimed to search for 1,000 Arab pioneers, and the UAE Food Bank, which distributes food and eliminates waste. On previous Accession Days, he has also thanked the UAE Armed Forces, highlighted the plight of orphans, and urged residents to thank their mothers.
Dubai’s economic plans come as the emirate looks to diversify its economy and reduce its reliance on the oil and gas sector. In recent years, Dubai has successfully transformed itself into a major hub for tourism, trade, and financial services, and the new agenda will look to build on this success and drive further economic growth. The emirate’s rulers are confident that the ambitious targets set out in the D33 agenda can be achieved, and are inviting investors from around the world to join them on their journey to make Dubai one of the fastest growing cities in the world.
