Dubai Announces $6.8 Billion Investment Incentives
Dubai Announces $6.8 Billion Investment Incentives
The Executive Council of Dubai, led by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, has approved a series of initiatives to support Dubai's economic agenda.
Sheikh Maktoum, Deputy Prime Minister and Minister of Finance of the UAE announced the Foreign Direct Investment (FDI) Development Programme, which allocates AED25 billion ($6.81 billion) over ten years to attract AED650 billion ($176.97 billion) in investments, directly supporting Dubai's D33 economic agenda.
Additionally, the Dubai Economic Model will utilize 3,000 performance indicators to monitor the city's economic development and ensure alignment with the D33 targets. This framework will allow for data-based decision-making, with interactive dashboards and policy impact assessments aiding transparency and confidence among investors.
Further, the Council approved the development of areas around Metro stations to enhance economic opportunities and promote sustainable transport. This plan includes incentives for developers and aims to increase public transport usage, reduce carbon emissions, and improve public spaces.
In addition, the Manbar programme was approved to double the number of citizens working in mosques, enhancing their skills and qualifications. Also, the Ghras Al Khair programme will empower content creators and young influencers to champion values of tolerance and moderation, supporting educational initiatives and community awareness.
In May, Dubai announced a major new quality-of-life strategy to enhance the well-being of the emirate under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.
The goal of the strategy is to make Dubai the world's best place to live, work, and travel. The plan includes an integrated roadmap for sustainable urban development in the city for all facets of the community.
This article was posted on Inc. Arabia EN