Dubai: His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai announced Duabi's economic aims after the second Dubai Council session held on Tuesday.
In a series of tweets, Sheikh Mohammed said: "Today, at the second Dubai Council session, we launched the Dubai Future District, a new space dedicated to the development of the future economy, as well as a Dh1 billion fund to support new economy companies who can power Dubai’s future growth."
He added: "Dubai Future District will connect DIFC, Emirates Towers & Dubai World Trade Centre, making it the Middle East’s biggest future economy-focused district. It will include a future economy research centre, incubators &accelerators and an innovative space for future economy pioneers."
Dubai as a global economic capital
In terms of Dubai's economic goals, Sheikh Mohammed said on Twitter: "We also outlined directions to raise Dubai's volume of non-oil foreign trade to Dh2 trillion by 2025. To achieve this, we have assembled a team to set-up a new logistical & legislative framework to open new markets, as we prepare to become the capital of the new economy."
In addition to boosting non-oil foreign trade, Dubai will open 50 offices across 5 continents to boost all sectors of the economy. The offices would promote Dubai's tourism and investment opportunities, along with the emirate's commodities, cultural and creative exports in addition to human resources.
He added that 2020 would be a "a year of significant change & real transformation on our journey over the next decade."
Sheikh Mohammed ended the series of tweets with a message: "My message to the strong-willed among us is: prepare yourself for a new era full of possibility."