HH Sheikh Mohammed announces Dubai Future District

HH Sheikh Mohammed announces Dubai Future District

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on January 14 announced during the second Dubai Council’s meeting that a new district ‘Dubai Future District’ dedicated to the enhancing economy will launch in Dubai.

He added: “Dubai Future District will connect DIFC, Emirates Towers & Dubai World Trade Centre, making it the Middle East’s biggest future economy-focused district. It will include a future economy research centre, incubators & accelerators and an innovative space for future economy pioneers.”

In order to raise the economic standing of Dubai, increasing non-oil trade is essential and plans to generate AED2 trillion by 2025 will be implemented.

Furthering the efforts of increasing non-oil trade, Dubai will open 50 offices across 5 continents to boost all sectors of the economy. Each tasked with promoting Dubai’s trade, tourism and investment offerings and intensifying and unifying of external marketing efforts.

A committee will be tasked with presenting a plan within 30 days of its establishment to explore the possibilities of opening new markets for Dubai’s foreign trade, establishing strategic international partnerships, enhancing the competitiveness of local exports, creating new export sectors, developing the logistics system in Dubai, and boosting the capabilities of international shipping lines managed by the emirate.

He added that 2020 would be “a year of significant change & real transformation on our journey over the next decade.”

Sheikh Mohammed affirmed, “2020 will be the beginning of a huge developmental leap, and it is the year that will drive us to the next decade with full force.”

Sheikh Mohammed assigned Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, the responsibility of increasing the volume of non-oil foreign trade to Dh2 trillion by opening new foreign markets for the emirate, developing the logistics system and enhancing the competitiveness of local exports.

Dubai’s leadership as the largest economic hub in the region will be solidified with the integration of Dubai World Trade Center, Emirates Towers and Dubai International Financial Centre, making Dubai Future District the largest innovation area in the world.