On January 4, 2023, Mohammed bin Rashid Al Maktoum, the vice president and Prime Minister of the UAE and the current ruler of Dubai, approved the Dubai Economic Agenda (D33). This bold initiative is aimed at transforming Dubai’s economy landscape, with a commitment to double the emirate’s economy over the coming decade and solidify its position among the top three global cities.
Dubai has major aspirations. Under the D33, they have set ambitious targets to achieve by 2033. These include reaching an economic target of AED 32 trillion (USD 8.71 trillion), doubling the value of foreign trade to AED 25.6 trillion (USD 6.97 trillion), doubling foreign direct investment (FDI) to AED 650 billion (USD 176.9 billion), and aiming to become one of the top four global financial centers. Additionally, the Dubai government has pledged an annual contribution of AED 100 billion (USD 27.23 billion) toward digital transformation projects.
The D33’s ambitious goals also represent a strategic roadmap that will redefine the economic landscape, creating opportunities for growth and investment in a rapidly changing world. To delve deeper into this transformation, the inaugural Dubai Business Forum, organized by Dubai Chambers, is set to take place from November 1–2 at the Madinat Jumeirah.
Titled “Shifting Economic Power: Dubai and the Future of Global Trade,” this event will convene the world’s business leaders, featuring high-level plenary sessions, insightful discussions, networking opportunities, and dealmaking. The forum’s agenda revolves around four key pillars that reflect the changing global economic landscape:
- Globalization: In an interconnected world, businesses must navigate the complexities of global markets. The forum will shed light on opportunities and challenges associated with globalization, offering valuable insights into effective strategies.
- Foreign direct investment: Dubai has been a magnet for FDI, but the global landscape is shifting due to geopolitical issues and economic pressures. The forum will provide a platform for experts, policymakers, and financial leaders to discuss the future of FDI and how it can be harnessed for growth.
- Digital transformation: The integration of digital technology in business is on the rise, promising improved productivity and economic growth. The forum will explore the implications of emerging technologies, such as the growth of internet-connected devices, and their impact on the global business community.
- Emerging markets: Emerging markets are becoming vital players in the global economy. As they grow and evolve, the forum will explore strategies to engage with these dynamic markets effectively.
The event boasts a distinguished lineup of speakers from both the private and public sectors, including prominent figures like Abdullah bin Touq Al Marri (Ministry of Economy, the UAE), Abdul Aziz Abdulla Al Ghurair (Dubai Chambers), Saeed Mohammed Al Tayer (Dubai Electricity and Water Authority), Sultan Ahmed Bin Sulayem (DP World), Helal Saeed Al Marri (Dubai Department of Economy and Tourism), Khalfan Belhoul (Dubai Future Foundation), Hadi Badri (Dubai Economic Development Corporation), Salem Al Shamsi (Dubai Chambers), and Deepak Bagla (World Association of Investment Promotion Agencies). These speakers will jointly discuss Dubai’s role in global trade, FDI, and the nation’s market attractiveness to Asian investors and companies.
The Dubai Chambers has also unveiled the Future Theatre program that will discuss the future trends set to catalyze growth in economies, industries, businesses, and society. This program will shed light on significant trends catalyzing growth across various sectors, focusing on the future of cities, investments, the internet-of-things, jobs, cybersecurity, robotics, and more. It will host focused and intimate sessions that provide additional scope for interaction, creating an engaging platform for meaningful dialogue that complements the forum’s compelling panel discussions and interactive main-stage sessions.
Another new initiative of the Dubai Chambers is The Deals Hub, a new impact-driven platform that enables global business leaders and investors to share details of major business initiatives, partnerships, and investments. The platform offers a dedicated space for signings witnessed by senior government officials, prominent figures from the public and private sectors, and representatives from the global media. The dealmaking space will enable companies of all sizes to explore strategic economic partnerships, develop their international networks, and open new horizons for business success.
The Dubai Business Forum offers a compelling platform for anyone interested in the future of global trade and investment, hosting conversations that will shape the future of Dubai’s economy and its role on the global stage. Dubai’s ambitions are high, and the Dubai Business Forum is poised to be the stage where these ambitions become reality.
36Kr Global is a media partner of the Dubai Business Forum.