Dubai’s position at the heart of global business and industry has given it the confidence to spread its wings wider to double the size of its economy. The city, known for its gleaming skyscrapers including the Burj Khalifa, the tallest in the world, is going international in a big way by inviting companies to invest here while also expanding the footprint of its homegrown brands that have made their mark at the regional level.
This is Brand Dubai coming of age and charting out major expansion plans. Dubai Global, the initiative announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, wants the world to know that the city means business and lives by the credo. The leadership is keen to diversify the economy and wants the city to reach out to more countries for investments, collaboration and sharing of knowledge. The goal is to take the economy to the next level and make it resilient and sustainable while retaining its innovative edge and stepping up to face competition for talent and investment from other trade and commerce hubs. It stems from the larger UAE vision to move away from oil and become a technology and research powerhouse by 2030. The Fourth Industrial Revolution is here and Dubai is therefore seeking global partners to power its next generation of enterprises and industry. The city, as we know, is a fast-mover and has come out of the pandemic with new zeal and fresh ideas.
The plan is to establish 50 integrated commercial representative offices in five continents across the world during the next few years. Sheikh Hamdan said: “Our goal is to globalise our national companies, attract global investments, and add new markets to our global business lines.” Shipping and aviation are two of Dubai’s strengths and the city can lay claim to being the most connected in the world. It connects the East and West like no other hub on earth. Shipping and air routes connect it with more than 400 cities. This is the world’s fastest-growing and diversified city. “We will double our economy in the next few years, establish the best business environment, and be number 1 in quality of life,” tweeted Sheikh Hamdan. It’s an ambitious target but Dubai is charged to get there ahead of schedule. The city itself is a global brand and is among the most visited in the world. Tourist numbers are close to pre-pandemic levels and the Eid weekend could see 2.4 million people passing through or coming to the city. With Dubai Global, the city will cement its place as the modern hub of civilisation and the future capital of globalisation.
Country plans to lure 300 digital companies with the right mix of incentives
According to the UN’s Food and Agriculture Organisation (FAO), between 2015 and 2020, the rate of global deforestation was estimated at 10 million hectares per year