Dubai’s financial sector is launching 15 programmes over the next three years as part of its growth strategy as it seeks to bolster assets under management in Dubai and double its contribution to the emirate’s GDP.
At a meeting of the higher committee for the development of the economic and financial sector earlier this week, Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, approved the Dubai Financial Sector Strategy.
Attendees at the meeting discussed how to implement the strategy – which will include projects focusing on capital markets, asset and wealth management, SME financing, virtual assets, and FinTech – as well as the development of a robust economic measurement system in Dubai.
By boosting market activity, the committee hopes to encourage the listing of more family businesses and startups.
The strategy will also focus on enhancing the role of small and medium enterprises in the national economy by developing innovative financing models that expand access to capital, ensuring the sustainability of SMEs and increasing their contribution to GDP.
His Highness Sheikh Mohammed said: “This strategy represents a major step for Dubai's financial sector.
“Plans to launch 15 transformative programmes over the next three years aim to establish an innovative and sustainable financial ecosystem.
“This will create promising opportunities for investors, bolster their confidence in Dubai's business environment, and advance our ambition to cement the emirate's status as the world's premier destination for financial services and one of the top three global financial hubs, in line with the goals of the Dubai Economic Agenda D33.”
