Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, set out a 32 trillion-dirham ($8.7 trillion) economic plan on Wednesday.
By spurring trade and investments over the next decade, the new economic agenda, named D33, aims to double the size of the emirate’s economy and place Dubai among the top 3 economic cities in the world.
In a series of tweets, Sheikh Mohammed announced that the emirate’s foreign trade will reach 25 trillion dirhams during the next decade. Dubai will also add trade corridors with 400 new cities around the world.
“Dubai’s economic agenda includes 100 transformative projects. Total economic targets amount to 32 trillion dirhams over the next ten years,” Sheikh Mohammed tweeted. ”We will be doubling our foreign trade to reach 25 trillion dirhams during the next decade.”
Dubai is also planning to attract FDI exceeding 700 billion dirhams within ten years, Dubai ruler tweeted.
“We have more than 300,000 investors in Dubai..and I invite everyone to join our journey to be one of the fastest growing cities in the world,” Sheikh Mohammed tweeted.