Media ININ Economy We Trust
October 15
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said that Dubai’s economy achieved 3.2% growth during the first half of this year, with a total value of 223.8 billion dirhams. His Highness stated on the “X” platform: “During the first half of this year, Dubai’s economy achieved a growth of 3.2%, compared to the same period of the previous year, with a total value of 223.8 billion dirhams. We thank all Dubai’s teams who are working hard to achieve the ambitious economic goals.” Which was set by His Highness Sheikh Mohammed bin Rashid Al Maktoum for the next stage in the Dubai Economic Agenda D33 to consolidate Dubai’s position as the economic capital of the world.”
Hamdan bin Mohammed praises Dubai’s economy achieving 3.2% growth during the first half of 2023:
The rapid growth of Dubai’s economy is the result of Mohammed bin Rashid’s vision and directives to invest in people and provide the necessary components to establish a prosperous economy and an attractive, flexible and constantly developing investment environment.
The results were in line with the Dubai Economic Agenda D33, which aims to sustain strong economic growth over the next decade, and establish Dubai’s position among the top 3 economic cities around the world.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, praised the results achieved by the economy of the Emirate of Dubai in the first half of 2023, as it grew by 3.2%, compared to the same period of the previous year, with a total value amounting to 223.8 billion dirhams. This reflects the efforts aimed at achieving the ambitious economic goals set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, for the next stage, on the right path towards consolidating Dubai’s position as a global economic capital.
His Highness said: “The rapid growth of Dubai’s economy is the result of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and his directives to invest in people, provide the necessary ingredients to establish a prosperous economy, and consolidate the foundations of an attractive, flexible and constantly developing investment environment.” His Highness added: “The promising results during the first half of this year were in line with the general path of Dubai’s D33 Economic Agenda, which aims to sustain strong economic growth over the next ten years, and establish Dubai’s leading position among the top 3 economic cities around the world.”
The positive performance of the economy came through the growth achieved in the transportation sector, the wholesale and retail trade sector, the financial sector, accommodation and food services activities, real estate activities, the information and communications sector, and manufacturing activities, which together contributed approximately 93.9% of the achieved growth. At the forefront of this group was the transportation and storage sector, which It contributed 42.8% of the achieved growth, followed by trade activity, which contributed 12.9%, and then the financial activities sector, which contributed 9.9%, according to data issued by the Dubai Data and Statistics Corporation, Dubai Digital Authority. This performance was achieved as a result of the growth of the real GDP for the second quarter by 3.6%. From this year.
Hilal Al Marri: We are witnessing continued momentum that comes as a direct result of joint coordination with various parties and partners to achieve the D33 goals.
Hilal Saeed Al Marri, Director General of the Department of Economy and Tourism in Dubai, said: “In light of this sustainable economic growth, we are witnessing continued momentum, 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, may God protect him. “As a direct result of joint coordination with various parties and partners to achieve the goals of the Dubai Economic Agenda D33.” He added: “We are committed to accelerating the pace of projects that will contribute to doubling the size of the economy, as well as continuing to build a distinctive and enabling system and an effective regulatory framework to achieve sustainable economic development, as well as enhancing the attractiveness of Dubai World, strengthening the network of relationships, and creating the investment environment to make room for businessmen.” To expand their projects and increase investments in the city.”
Hamad Obaid Al Mansouri: Dubai’s economy is supported by the success factors of legislative and infrastructure, quality of services, investment attractiveness, and digital transformation.
Regarding these results, Hamad Obaid Al Mansouri, Director General of the Dubai Digital Authority, said: “The growth achieved in the first half of 2023 reflects the overall performance of the economic system in Dubai, in line with the directives of the Dubai government to create all conditions to encourage and attract investments, raise the competitiveness of the business sector, and double the size of Foreign trade and promoting digital transformation in Dubai’s economy. The numbers today express great success in achieving the goals, as the result of an integrated strategy whose features were established by a wise leadership with a vision that demonstrated its ability to overcome challenges. In this context, I can only acknowledge the efforts of all concerned parties and their solidarity in achieving the highest economic goals of Dubai and translating the directives of our wise leadership into achievements. It advances the development process.”
Al Mansouri added: “Dubai has established its reputation and global status over time as a dream city and a model that millions yearn for and seek to emulate in all fields. As Dubai’s economic leaps continue year after year, the Dubai model is strengthened as the ideal image of the economies of the future.”
Dubai is one of the fastest recovering destinations in the world
For his part, Younis Al Nasser, CEO of the Dubai Data and Statistics Corporation, said: One of the institutions of the Dubai Digital Authority: “What the data showed in terms of the economic growth achieved at the level of various sectors and activities reflects the solidity of the emirate’s economy and its trend towards achieving its economic goals included in its D33 economic agenda, and confirms that the government efforts and the exceptional empowerment that Dubai’s economy enjoys in terms of governance and legislative integration High-level infrastructure, competitive logistics services, and exemplary flexibility make this attractive economy one of the world’s most adaptable to surrounding changes.”
