Dubai merges tourism, economy departments to accelerate growth

Dubai on Saturday announced another major initiative to accelerate industrial activities and promote foreign trade and tourism in the emirate by merging its two key entities.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, announced the merger of the Dubai Economy and Department of Tourism and Commerce Marketing and appointed Helal Saeed Al Marri as director-general of the new department.

Taking to Twitter, he said the new department's goals will also soon be identified to increase the added value of the industrial sector, expand foreign trade and reach 25 million tourists in 2025.

This move is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to further enhance the emirate's development.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister and Minister of Finance, also complemented the move and said it will enhance competitiveness of the emirate.

"During the previous period, the two departments played a pivotal role in consolidating Dubai as an economic and tourist capital. The next stage requires a high competitiveness of the Emirate, which requires complete harmony between the two sectors," Sheikh Maktoum tweeted.

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The new department will attract 400 global economic events annually by 2025, and encourage private sector companies and family businesses to list them in Dubai's financial markets and stock exchanges, according to Dubai Media Office.

The main objectives of the Department of Economy and Tourism in Dubai include making Dubai one of the top five cities in the main economic indicators, attracting 100,000 companies inthree years, promoting an increase in the added value of the industrial sector by 150 per cent in five years, and expanding foreign export markets for local products by 50 per cent.

Experts laud initiative

Shailesh Dash, a Dubai-based financier and entrepreneur, said this is a very important strategic move by the UAE govt where the importance of trade, tourism and other related sectors to the Dubai economy gets uppermost focus.

"It will also help very much focus on the 4th industrial revolution and upskilling of the population, which is so much more important to our economy today," Dash told Khaleej Times on Saturday.

Atik Munshi, managing partner, FinExpertiza UAE, said tourism is one of the major pillars of Dubai.

"A consolidation of tourism and economic departments will help seamlessly syncing the services required by businesses. With the apparent improvement in the Dubai economy and opening of international arrivals, tourism too is expected to be see added growth. This move seems to be timely move and would muster more confidence for both the tourists and business," Munshi told Khaleej Times on Saturday.

-- muzaffarrizvi@khaleejtimes.com

• Dubai