The Dubai Economic Agenda, or D33, is quite empowering for entrepreneurs as well as business leaders and it will drive the future growth of the emirate and attract more foreign investment inflows into the UAE, corporate leaders and businessmen say.
While welcoming the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the leading industry stakeholders and private sector executives said D33 initiatives will expand Dubai’s foreign trade, foster innovation and entrepreneurship in years to come.
“I believe all businesses and residents share Sheikh Mohammed’s vision and commitment in this regard specifically. While most of the world observed Dubai’s social and economic revival from the pandemic, I feel that not as many observed the Emirate’s steady diversification outside of hydrocarbons,” said Dr Lal Bhatia, chairman, Hilshaw Group.
“Today, Dubai is undoubtedly the region’s primary air and shipping hub, with significant safeguards in place and a rapid transition towards sustainable energy. Considering the robust performance of its finance, property and tourism sectors and political stability and security in general, a two-fold economy in 10 years is an inevitability,” he said.
Dubai is the best city
Iqbal Dawood, director, Pakistan Business Council Dubai, echoing the similar views and said the D33 initiatives will promote Dubai as one of the best cities to live and work.
“The way Dubai is growing and Rulers are handling development and creating progressive initiatives is remarkable. This target seems to be achievable smoothly. Rising growth, exemplary law and order situation and excellent infrastructure attracted the whole world towards the emirate and this vision will help Dubai to further strengthen its position,” he said.
Kamal Vachani, group director and partner at Al Maya Group, said the UAE Rulers continue to inspire the residents and nationals though their visionary policies.
“Dubai, which has been an economic hub for decades, has yet again announced an inspirational as well as an aspirational goal. The D33 initiative that comes with a vision of total economic targets of Dh32 trillion over the next 10 years is quite empowering for entrepreneurs as well as business leaders,” Vachani told Khaleej Times.
He said Dubai has always set and achieved ambitious goals and the D33 will further strengthen as well as open doors for more innovative and transformational projects creating endless opportunities for all.
Testament to a sustainable energy future
Dr Mostafa Al Guezeri, managing director of Hitachi Energy, said Dubai’s 10-year growth plan is a testament to our commitment to a sustainable energy future.
“By placing sustainability at the heart of all our operations, we can pave the way for a carbon-neutral future that will benefit our present and future generations. It will take dedication, passion, and energy to achieve this goal, but the rewards will be immeasurable,” he said.
He said it is great to see the D33 economic agenda, which includes a green and sustainable manufacturing plan, as this demonstrates Dubai’s commitment to sustainability and its leadership in this important area.
“The launch of this green and sustainable manufacturing plan is a testament to the city’s forward-thinking and innovative approach, and we are confident that it will contribute significantly to Dubai’s economic prosperity,” he said.
Bharat Bhatia, CEO and founder of Conares, said Dubai’s Economic Agenda is a visionary and ambitious plan that will drive the city’s economic growth and success in the coming years.
“The initiatives to expand Dubai’s foreign trade, foster innovation and entrepreneurship, and support the growth of local businesses will all contribute to the city’s economic growth and success,” he said.
A crucial and far-reaching plan
Abdul Jebbar PB, group managing director of Hotpack Global, said the D33 economic agenda is a crucial and far-reaching plan that will drive Dubai’s economic growth and success over the next decade.
“The ambitious goals of this economic agenda will position Dubai as a top global economic hub and a beacon of success. We believe that this agenda is good for Dubai and will bring numerous benefits and opportunities to the city and its people,” he said.
Ali Shabdar, regional director at Zoho Corp for the Middle East and Africa, said the goal to double the size of the Dubai economy and become one of the top three economic cities in the world is a testament to the ambition of the Dubai leadership.
“It will tremendously impact the city’s economic development and growth by expanding foreign trade and investment, fostering innovation, and encouraging entrepreneurship,” he said.
A comprehensive and ambitious plan
Abdulla Nalapad, managing director of Nalapad Investments, said the D33 is a comprehensive and ambitious plan to cultivate growth in the Dubai economy.
“One of the standout initiatives of this agenda is the programme to attract the world’s best universities and make Dubai a global pioneering hub for higher education. This initiative will not only boost Dubai’s reputation as a hub for learning and knowledge, but it will also attract top talent and create new opportunities for all stakeholders,” he said.
Emmanuel de Smedt, managing director at Al Muqarram Industry, said Dubai, with its recent announcement of the D33 economic agenda, has set new standards for the future.
“The Emirate’s aim to open its doors to newer international markets to double its current economic status over the next decade will bring incredible opportunities across all sectors within the region,” he said.
He said the construction sector, particularly, could expect a massive boom considering the potential opportunities from incoming growth in population, which will lead to a greater demand for construction projects in the region.
“As a global business hub, we have always been impressed by Dubai’s commitment to driving economic growth and innovation. The Dubai Economic Agenda D33 is a clear indication that this commitment is stronger than ever, and we look forward to see the impact it will have on the city’s economic development over the next decade,” Karthik Jayaraman, managing director and co-founder at WayCool, said.
Shamsh Hadi, co-founder and CEO of ZorroSign, welcomed the new Dubai Economic Agenda with open arms.
“It is heartening to see that Sheikh Mohammad make such a significant economic step. His judgments and policies have always put his people and his nation first, and this is evident in everything he does. The D33 agenda is yet another incredibly foresighted approach to diversify the UAE economy and lead the global economy,” he said.
“The new agenda aims to boost Dubai’s economy’s productivity by 50 per cent through innovation and digital solutions, while introducing Dh100 billion annual contribution of digital transformation projects to the emirate’s economy, which will be a bigger step in evaluating how the technology is already being utilised and how blockchain is going to play a bigger role in magnifying this initiative,” he said.