The UAE is seeking to attract foreign direct investment worth 650 billion dirhams ($177 billion) over the next ten years, and to increase the number of companies headquartered in Dubai, amid Gulf competition to attract capital.
The UAE's goal of attracting these huge investments comes within the framework of Dubai's economic agenda for the next ten years, which was announced by the Ruler of Dubai and Prime Minister of the UAE, Sheikh Mohammed bin Rashid Al Maktoum, yesterday, Wednesday, via the social networking site Twitter.
The UAE's agenda aims to attract about 60 billion dirhams in direct investments annually, and to double Dubai's foreign trade to 25.6 trillion dirhams during the next decade from 14.2 trillion dirhams in the past 10 years.
Dubai's economy grew by 4.6% during the first nine months of 2022 compared to the same period in 2021, according to what Dubai Crown Prince Hamdan bin Mohammed bin Rashid Al Maktoum tweeted last December.
The agenda includes 100 projects that will be announced later, and total economic targets of 32 trillion dirhams over the next ten years.
