Video: Sheikh Hamdan critiques DET’s technique to realize D33 targets

Commending DET’s initiatives and initiatives geared toward elevating the expansion of key financial sectors, Sheikh Hamdan mentioned Dubai is dedicated to producing new alternatives for the non-public sector to contribute to efforts to consolidate the emirate’s rise because the world’s greatest metropolis to dwell, work and go to. Sheikh Hamdan mentioned that Dubai stands on the cusp of a brand new part of speedy progress and is poised to script new success tales as a worldwide hub for commerce, enterprise and innovation and a magnet for expertise and funding.

Dubai continues to embrace international modifications and leverage next-generation applied sciences to boost its future readiness, he mentioned. With its strong infrastructure, business-enabling companies and versatile globally-benchmarked legislative framework mixed with excessive ranges of security and safety, the town presents entrepreneurs and traders an distinctive platform to understand their aspirations, he added.

Sheikh Hamdan bin Mohammed and Sheikh Ahmed bin Mohammed had been obtained on the DET headquarters by Helal Saeed Al Marri, Director-Common of Dubai’s Division of Financial system and Tourism, and plenty of senior officers of DET.

Offering an outline of the work achieved by DET and its subsidiaries, in addition to the progress made in numerous actions and initiatives primarily based on the Dubai Financial Agenda D33, Helal Saeed Al Marri highlighted the numerous progress in new enterprise institutions in Dubai within the first quarter of 2023. Based on the most recent DET knowledge, Dubai recorded a rise of over 30 p.c in new enterprise licenses issued throughout Q1 2023 in comparison with the identical interval in 2022 whereas the variety of enterprise licenses robotically renewed registered a year-on-year (YoY) progress of 14 p.c within the first three months of the yr.

According to D33’s purpose of accelerating authorities spending, the Authorities Procurement Programme of DET delivered an distinctive efficiency in 2022. The programme awarded contracts and purchases price a complete of roughly AED1.12 billion to members of the Mohammed bin Rashid Institution for the Improvement of Small and Medium Enterprises, a progress of over 21.5 p.c in comparison with 2021.

Al Marri additionally highlighted the achievements of the manufacturing sector, emphasising the Division’s efforts to strengthen the sector’s contribution to the emirate’s GDP. In 2022, the manufacturing business accounted for 8.6 p.c of GDP, a share that’s projected to succeed in 9 p.c within the subsequent two years. The Division is actively diversifying the manufacturing base, optimising provide chains, and adopting superior know-how in industrial options inside the framework of initiatives designed to cement Dubai’s place as a worldwide hub for business and export.

World advertising and marketing campaigns and initiatives launched by the Dubai Company for Tourism and Commerce Advertising (DCTCM) attracted a big share of worldwide guests. The continual efforts made by DCTCM to advertise Dubai worldwide was straight answerable for driving 57 p.c of the overall visitation of 14.4 million worldwide guests in 2022, and producing hundreds of thousands of potential travellers for the longer term, particularly an anticipated substantial enhance in travellers from 2023 to 2025. These advertising and marketing actions have additional strengthened Dubai’s place as a primary alternative vacation spot for international travellers and influenced 11 million people to plan their Dubai journeys. The campaigns have additionally impressed 6 million folks so as to add Dubai to their ‘bucket listing’ of locations to go to between this yr and 2025.

Constructing on the momentum throughout the tourism sector, Dubai welcomed 6.02 million worldwide guests throughout the first 4 months of this yr, an 18 p.c enhance in comparison with the identical interval in 2022, a testomony to its rising international enchantment as a must-visit vacation spot. This has additional validated Dubai’s rating because the No.1 international vacation spot for the second consecutive yr within the Tripadvisor Travellers’ Alternative Awards 2023.

Dubai has additionally persistently outperformed main international locations akin to London, Paris and Bangkok by way of journey bookings throughout 2022 and to date in 2023. The common customer spending in Dubai elevated by 6 p.c in comparison with 2019, additional consolidating its place as a number one international journey and tourism vacation spot.

DET continues to implement methods to keep up Dubai’s enchantment for worldwide travellers via a spread of initiatives and actions together with international advertising and marketing campaigns, the promotion of Dubai’s gastronomy scene, the enlargement of the Vacation Properties sector and enhanced transparency and governance within the short-term rental market. Dubai finally goals to be one of many high three city economies on the planet, and set up itself as a worldwide centre for a inexperienced and sustainable financial system, and a number one metropolis within the digital financial system.