Dubai's GDP Growth Powered by Sheikh Mohammed, Credits Crown Prince Hamdan

On Sunday, the crown prince of Dubai, Sheikh Hamdan bin Mohammed Al Maktoum, tweeted about data from the 2nd quarter and first half of 2024 which showed promising results with a GDP growth of 3.3% in Q2 touching AED 116 billion and a 3.2% growth in H1 reaching AED 231 billion.?

His Highness credited this success to his father the prime minister of UAE and ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, who has set the blueprint for economic diversification in the region. Recently, the ruler has been approving projects and allocating budgets accordingly. These include an AED 3.7 billion plan for internal roads and an AED 2 billion Dubai police project.

Indeed, this government spending will generate ample economic productivity that will further boost growth in the country. This aligns with the city’s D33 economic agenda which entails doubling the size of the economy by 2033.

Further, Sheikh Mohammed ensures the opportunities created are inclusive as he says “Achievement isn’t about one person; it’s the strength of a united team. Victory doesn’t come alone; it’s fuelled by the team’s resolve and drive. Safety and stability are built on the cohesion, trust, and support of each member.”??

We have seen the UAE involve many countries in its growth directly as well as indirectly. He remains up-to-date on global affairs making sure to address any potential cordial alliances, on the 12th of November the Sheikh congratulated the new president of Botswana on his win.?

Notably, the prime minister also attended the graduation ceremony of the first cohort of the Nafis Leadership Program, which is a program that fosters the growth of future leaders in the country.?

Moreover, the program included an educational trip to Singapore to learn about the country’s business leadership model. The interactive and collaborative approach that the UAE has adopted enables the most diverse city in the country - Dubai, to lead a versatile workforce effectively.

Equally, the Sheikh maintains inclusivity during his majlis which is a weekly meeting with dignitaries. As of September, chairmen from HSBC holdings and local businesses attended the meeting to discuss possible collaborations between the private and public sectors to advance growth across diverse business industries.?

Mainly, these efforts are to encourage innovation which will ultimately lead to growth and fulfill the chief objectives of the D33 Agenda. Do you think our progress is on track to achieve the D33 Agenda?

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