Dubai's Crown Prince approves strategic incentives to boost economy

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, has approved several transformative initiatives to stimulate the emirate's economy.

These include incentives aimed at doubling the contribution of industrial and agricultural technology sectors to Dubai’s economy by 2033, as well as plans to progressively phase out single-use plastics by 2026.

The initiatives were announced during a meeting of the Executive Council on Thursday.

Sheikh Hamdan underscored the pivotal role of a diversified economy in achieving the ambitious objectives outlined in the Dubai Economic Agenda D33, which seeks to propel Dubai into the ranks of the world's top three cities by 2033.

"These steps represent significant measures to expand the contribution of agriculture to Dubai’s diverse economy by doubling the size of the sector. We call on investors, experts and innovators to join our global platform for research, development and innovation," he added.

His Highness also stressed the social impact of curbing single-use plastics, nurturing sustainability, and promoting climate awareness, particularly ahead of COP28.

. @HamdanMohammed: #Dubai leads by example, empowering businesses, fostering innovation, and embracing sustainability. The approved incentives will double Dubai's agricultural sector by 2033, reinforce its global leadership in agricultural technology, and enhance food security… pic.twitter.com/b2x1SsCkJu

— Dubai Media Office (@DXBMediaOffice) November 9, 2023