By Staff Writer
Sheikh Mohammed also announced new non-oil trade targets, an AED1 billion fund and subsidised housing for entrepreneurs.
Dubai wants to boost its tourism and it’s setting up 50 government offices around the world to do it.
Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum announced the plans during a Dubai Council meeting on Tuesday, where he also revealed new non-oil trade targets, an AED1 billion fund and subsidised housing for entrepreneurs.
"We... gave direction to enhance Dubai's international presence, through establishing 50 offices across five continents," he said on Twitter, adding that the offices would "promote Dubai's commercial, tourist and investment opportunities, while boosting our commodities, cultural and creative exports and our human talent."
The council also launched the Dubai Future District which will be "dedicated to the development of the future economy." It will connect DIFC, Emirates Towers and the Dubai World Trade Centre by a bridge, making is the Middle East’s largest future economy-focused district, according to Sheikh Mohammed.
We also gave direction to enhance Dubai's international presence, through establishing 50 offices across 5 continents to promote Dubai's commercial, tourist & investment opportunities, while boosting our commodities, cultural & creative exports & our human talent. pic.twitter.com/1tQx3lvNmh— HH Sheikh Mohammed (@HHShkMohd) January 14, 2020
It will house a future economy research centre, incubators and accelerators.
As for the AED1bn Dubai Future Economy Fund, it will support new companies who can fuel Dubai’s future growth and drive its new economy, with new incentives including five-year residency visas for entrepreneurs and reduced housing prices at under AED3,000 per monthly rent in District 2071.
Dubai is also planning to increase non-oil foreign trade to AED2 trillion by 2025 in line with the new 50 offices around the world.
"To achieve this, we have assembled a team to set-up a new logistical and legislative framework to open new markets, as we prepare to become the capital of the new economy," Sheikh Mohammed said.
In the next two months, the Dubai Council will present 50 new goals to achieve in the next five years, with DP group chairman and CEO Sultan bin Sulayem responsible for overseeing the AED2trn goal, leading a committee that will present a plan to open new foreign markets, develop a logistics system and enhance the competitiveness of local exports.
Dubai did not hit its target to attract 20 million visitors in 2020, having hit 12 million in the first nine months of 2019, however the six month Expo 2020 event is expected to welcome 25 million visits into the city.