What is D33? About Dubai’s Economic program

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, as well as the ruler of Dubai, has launched the «D33» economic program, with the aim of doubling the size of Dubai’s economy over the next decade and strengthening its position in the top three most economically developed cities in the world.

His Highness Sheikh Mohammed noted:

«Dubai’s economic program «D33″ includes 100 transformative projects with economic goals in the amount of 32 trillion. dirhams, doubling our foreign trade to 25.6 trillion. dirhams and the addition of 400 cities as key trading partners over the next 10 years. Dubai will become one of the world’s four largest financial centers with an increase in foreign direct investment to more than 650 billion dirhams over the next decade and an annual contribution of 100 billion dirhams due to digital transformation. Today, more than 300,000 international investors are helping to make Dubai the fastest growing city in the world.»

The economic program «D33» aims to accelerate growth through investments in the development of human potential, skills and advanced technologies, as well as to consolidate Dubai’s global competitiveness, introduce innovation and focus on a knowledge-based economy. According to «D33», part of the investment will be aimed at strengthening the advantages gained due to Dubai’s strategic location and its developed infrastructure in order to increase the city’s status as a preferred location for large international companies and investments.

The economic program «D33» sets ambitious goals, including increasing the total value of foreign trade in goods and services from 14.2 trillion. dirhams up to 25.6 trillion. dirhams in the next decade.

The «D33» Action Plan, among other things, aims to increase the contribution of foreign direct investment to the Dubai economy, on average, from 32 billion dirhams per year in the last decade to (on average) 60 billion dirhams per year in the next decade, to reach a total of 650 billion dirhams in the next 10 years.

One of the main goals of the «D33» program is to increase the competitiveness of the city’s thriving business sector, which will increase private sector investment from 790 billion dirhams in the last decade to 1 trillion. dirhams by 2033.

«D33» also includes actions to support the growth of 30 companies in new sectors and their transformation into economic unicorns, as well as the integration of 65,000 young Emiratis as salaried professionals and representatives of the private sector.

The Dubai Traders Project (DT33) will empower a new generation of Dubai traders in various major growing sectors.

The first set of projects also includes the creation of a Single license for all companies in economic zones, and the Dubai Sandbox, which aims to make Dubai an incubator of business innovation, allowing testing new products and technologies, as well as commercializing them.

The Action Plan according to «D33» provides for the launch of the Dubai Project with the participation of the best universities in the world as part of a larger goal — to make Dubai a global center for higher education. It is also planned to launch a program to promote the growth of small and medium-sized businesses by identifying 400 high-potential companies and providing support within their potential and global expansion.

About Dubai Department of Economy and Tourism (DET)

The Dubai Department of Economy and Tourism (DET) aims to support the government in increasing the Emirate’s competitiveness in the global economy and tourism in order to support the positioning of Dubai as the world’s leading commercial center, investment hub and tourist destination. As part of this task, DET directs efforts to further develop Dubai’s diversified, innovative and service-based economy, to attract the world’s best specialists and accelerate productivity growth. In addition, DET supports the vision of Dubai as the world’s best city to live and work in, promoting it and an excellent quality of life.

DET is responsible for the planning, control, development and marketing of Dubai’s business and tourism sectors. He is also responsible for licensing and classification of all types of businesses, including hotels, tour operators and travel agents. DET’s portfolio includes: Dubai Tourism and Commercial Marketing Corporation, Dubai Festivals and Retail, Dubai Industry and Export, Dubai Investment Development Agency (Dubai FDI) and Dubai SME, as well as Dubai College of Tourism, Dubai Calendar and Dubai Business Events.