Dubai Shares Grand Masterplan to Double Its Economy in Just 10 Years

Dubai is a city of ambition and grandeur, and it's no surprise that the city has set its sights on a massive goal—to double its economy in just ten years! Dubai's Grand Master Plan is an ambitious roadmap that seeks to make this metropolitan dreamscape a global economic powerhouse. 

Dubai’s grand master plan outlines major projects and initiatives designed to help the city achieve its goal, from developing world-class infrastructure and expanding its manufacturing and industrial sectors to focusing on innovation and technology.

This agenda includes 100 transformative projects that are set to boost the city’s economy over the next ten years. The ambitious plan is set to double foreign trade from AED12.8 trillion to AED 25.6 trillion, and add 400 cities as key trading partners.

A Glimpse into Dubai's Plan to Grow: What Does the Journey Include?

Dubai is on a mission to become one of the world’s most vibrant, innovative and prosperous cities. To achieve this, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced a series of transformational projects to be implemented over the next decade. 

These projects will help double the size of Dubai’s foreign trade, launch a green and sustainable manufacturing plan, launch Dubai’s future economic corridors with Africa, Latin America, and South East Asia, and integrate 65,000 young Emiratis into the job market.

To Inspire and Innovate

The ambitious plan also includes the launch of a “Sandbox Dubai” initiative, designed to allow businesses to test and commercialize new technologies. This will make Dubai a major innovation hub, and help attract new businesses and investment opportunities.

In addition, the Dubai Traders project will provide a unique commercial identity for all companies in Dubai. The project will enable companies to register their business, open bank accounts, and access various services such as accounting, legal advice, and more. 

The Dubai government is also launching a scale-up program for 30 companies to become global unicorns in new economic sectors. This will help to create new jobs, and attract top talent from around the world.

To Free Up Everyday Hurdles

Of course, economic success is only possible if people can reach their destinations without dealing with traffic jams, so the government is looking to develop an efficient and effective public transport system to reduce traffic congestion and improve air quality. In the education sector, 

Dubai is looking to become a global hub for higher education by launching a program to attract the world’s best universities. This will open up new opportunities for students and researchers, as well as create a vibrant intellectual atmosphere.

To Support Business Growth and Education

In the business sector, Dubai is looking to create a Small and Medium Enterprises scale-up program. This program will identify 400 high-potential companies, and provide them with the support they need to grow and expand into global markets. This will create a strong foundation for the local economy and provide new jobs and opportunities.

Finally, Dubai aims to become one of the top four global financial centers by increasing its foreign direct investment to over AED 650 billion over the next decade. This will attract more investors and businesses to Dubai, which will help to further grow and diversify the city’s economy.

These initiatives are just the tip of the iceberg when it comes to the ambitious plans to transform Dubai into a global hub for business and innovation. With the right investments and initiatives in place, Dubai can become one of the most vibrant cities in the world.

The Bottom Line: Dubai Is Working on Its Masterplan to Take Its Economy to Greater Heights

Dubai is a fast-growing, dynamic city, and its economy is no exception. With its strategic location, cutting-edge infrastructure, and world-class services, Dubai is determined to become an even more attractive destination for businesses and tourists alike. To make this a reality, Dubai is working on its master plan to take its economy to greater heights in the years to come. 

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