Sheikh Hamdan reviews DET progress on Dubai Economic Agenda D33 goals

Image credit: Dubai Media Office

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, reviewed the progress made by the Department of Economy and Tourism (DET) towards the objectives outlined under the Dubai Economic Agenda D33, during his visit to the department’s headquarters on June 5.

Sheikh Hamdan was accompanied by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai.

The Crown Prince emphasised the importance of building closer cooperation between the government and private sectors to strengthen efforts to achieve the goals of the Dubai Economic Agenda D33 launched earlier this year, according to the Dubai Media Office.

Praising DET’s projects and initiatives aimed at raising the growth of key economic sectors, Sheikh Hamdan said Dubai is committed to generating new opportunities for the private sector to contribute to efforts to consolidate the emirate’s rise as the world’s best city to live, work and visit.

.@HamdanMohammed reviewed @DubaiDET‘s strategy to achieve the goals of the Dubai Economic Agenda D33 during a visit accompanied by @AhmedMohammed.https://t.co/dOxOJiIRTn pic.twitter.com/uHvTWa1oQO

— Dubai Media Office (@DXBMediaOffice) June 5, 2023

Dubai continues to embrace global changes and leverage next-generation technologies to raise its future readiness, the Crown Prince said.

Dubai Economic Agenda D33 goals: DET milestones

Providing an overview of the work and progress made by DET and its subsidiaries, Helal Saeed Al Marri, director-general of Dubai’s Department of Economy and Tourism, showcased the significant growth in new business establishments in Dubai in Q1 2023.

According to the latest DET data, Dubai recorded an increase of over 30 per cent in new business licenses issued during Q1 2023 compared to the same period in 2022 while the number of business licenses automatically renewed registered a year-on-year growth of 14 per cent in the first three months of the year.

Here are the other key milestones highlighted:

• In line with D33’s goal of increasing government spending, DET’s Government Procurement Programme delivered an “exceptional” performance in 2022. The programme awarded contracts and purchases worth around Dhs1.12bn to members of the Mohammed bin Rashid Establishment for the Development of Small and Medium Enterprises, a growth of over 21.5 per cent compared to 2021.
• In 2022, the manufacturing industry accounted for 8.6 per cent of GDP, a share that is projected to reach 9 per cent in the next two years. The department is diversifying the manufacturing base, enhancing supply chains, and adopting advanced technology in industrial solutions.
• Global marketing campaigns and initiatives launched by the Dubai Corporation for Tourism and Commerce Marketing (DCTCM) attracted a significant share of international visitors. DCTCM’s efforts to promote Dubai worldwide were directly responsible for driving 57 per cent of the total visitation of 14.4 million international visitors in 2022, with an anticipated substantial increase in travellers expected from 2023 to 2025. DCTCM campaigns have also inspired six million people to add Dubai to their ‘bucket list’ of destinations to visit between 2023 and 2025.
• Dubai welcomed 6.02 million international visitors during the first four months of this year, an 18 per cent increase compared to the same period in 2022.
• Dubai has also consistently outperformed major global destinations such as London, Paris and Bangkok in terms of travel bookings across 2022 and so far in 2023. The average visitor spending in Dubai increased by 6 per cent compared to 2019, further consolidating its position as a leading global travel and tourism destination.
• DET is continuing to implement strategies through a range of initiatives and activities including global marketing campaigns, the promotion of Dubai’s gastronomy scene, the expansion of the holiday homes sector and enhanced transparency and governance in the short-term rental market.