Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, today chaired a meeting of the council, during which he approved several transformative initiatives to stimulate the industrial sector in Dubai, incentives for the agricultural technology sector, and a policy banning single-use plastics, reported Wam.

 

At the meeting, Sheikh Hamdan underscored the pivotal role of a diversified economy in realising Dubai's ambitious objectives outlined in the Dubai Economic Agenda D33, which seeks to propel the emirate into the ranks of the world's top three cities by 2033 in economic terms.

 

"Dubai leads by example, empowering businesses, fostering innovation, and embracing sustainability. The approved incentives will double Dubai's agricultural sector by 2033, reinforce its global leadership in agricultural technology, and enhance food security sector. In the industrial sector, we’re poised to raise manufacturing’s added value," he stated.

 

According to him, these steps represent significant measures to expand the contribution of agriculture to Dubai’s diverse economy by doubling the size of the sector. We call on investors, experts and innovators to join our global platform for research, development and innovation.

 

He also stressed the social impact of curbing single-use plastics, nurturing sustainability, and promoting climate awareness, particularly ahead of COP28.

 

The Executive Council approved an ambitious plan to boost Dubai's industrial sector. The strategic initiative is in line with the goals of the Dubai Economic Agenda D33 and aims to increase manufacturing value added (MAV) by AED58 billion, equivalent to 2.5 times the sector’s current value.

 

The plan is designed into three key programmes spanning the 2024-2033 period: The National Program supports all manufacturing companies, the Special Program caters to priority sectors, and the Strategic Program fosters growth through exemptions, investments in infrastructure, and capital facilities. 

 

This strategic approach positions Dubai as a global manufacturing powerhouse, furthering its economic potential.