The Executive Council of Dubai has approved a Foreign Direct Investment Development Programme, which earmarks AED25 billion ($6.81 billion) of incentives over 10 years to help attract AED650 billion ($176.97 billion) in  investments to Dubai by 2033 as part of the D33 economic agenda.

 

The programme will offer incentives worth AED25 billion over 10 years. The programme aims to attract international companies and support the expansion of existing international companies with bases in Dubai, aligning with the emirate’s ambition to become one of the world’s top three economic cities. The FDI programme will highlight Dubai’s unique competitive advantages, such as its logistics infrastructure, strategic geographical location, talent pool, and its position as a competitive global commercial hub, a Wam news agency report said.

 

The council, which met on Sunday, also announced a series of new initiatives and programmes designed to support its ambitious economic agenda and make Dubai one of the world’s top three urban economies by 2033.

 

Chairing the Council’s meeting, HH 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, said: “Dubai, under the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and Ruler of Dubai, has designed a well-planned and agile economic model, positioning it as a top global destination for investment.”

 

Sheikh Maktoum said: “Dubai has built an integrated, unique, and inspiring economic model, featuring advanced enablers and tools to enhance decision-making, create a broad array of promising opportunities, and attract top talents and global investment.”

 

He also announced the Dubai Economic Model, which will use 3,000 performance indicators to closely measure Dubai's development against its economic targets.

 

“Dubai continues to lead in urban planning and sustainable urban mobility with residents able to access all key services through convenient, efficient and sustainable transport systems. Consequently, Dubai has become one of the best places in the world to live and work,” he added.

 

Sheikh Maktoum said: “The success of any economic model always starts with empowering the individuals as they are the ultimate beneficiary. Dubai is a diverse global city and an international commercial hub synonymous with vitality, diversity, and peaceful coexistence owing to the principles it upholds. At the same time, it maintains its core values and national identity by investing in people and launching initiatives to achieve the goals of Dubai's Social Agenda 33, which fosters happy, strong and tolerant families who are proud of their values and identity.”

 

The meeting was attended by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Deputy Chairman of The Executive Council, and Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Civil Aviation Authority and Deputy Chairman of The Executive Council.

 

The Dubai Economic Model will use an integrated framework, interactive dashboards and policy impact assessment reports to monitor economic development and measure progress against D33 targets. This approach will enable decision-makers to make informed, data-based decisions.

 

The project consists of three main components. First is a database that includes more than 3,000 indicators, covering macroeconomic data and sector-specific data for the emirate, as well as relevant global rankings and indicators. The second component comprises systems to measure and forecast economic performance indicators and assess the impact of local and global policies on Dubai's economy. The third element involves economic reporting tools and interactive dashboards that will monitor Dubai's economic performance and trends, supporting decision-makers to make informed decisions.

 

These tools will allow leaders and decision-makers to evaluate the impact of policies, measure performance in key sectors, enhance transparency, prioritise new policies’ rollout, and increase both consumer and investor confidence.

 

The model, overseen by the Department of Economy and Tourism, will study scenarios of economic performance indicators, while the Dubai Digital Authority will design a roadmap to activate the model by streamlining and automating data management processes, and accelerating data classification. Additionally, AI tools will be used to enhance the economic model's capabilities.