Monday, May 20, 2024

Dubai Economy, Dubai Tourism merged to form new unit

In his capacity as Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE, has issued a decision to merge Dubai Economy and Dubai Tourism into one entity under the name ‘Dubai’s Department of Economy and Tourism’.

He also issued a decision appointing Helal Al Marri as the Director General of the newly formed Department.

The move is part of a plan approved by Sheikh Mohammed that seeks to develop government work in Dubai and enhance its efficiency and resilience in order to keep pace with rapid changes, while ensuring the competitiveness of the business and tourism sectors in Dubai.

“The newly formed department seeks to support the economic and tourism transformations taking place in the emirate. It will adopt the same competitiveness and efficiency of the private sector and work together with it on various development projects,” remarked Sheikh Mohammed.

“Dubai’s economy has witnessed different phases of development throughout its history, which has helped shape the city’s current status as a model for economic development and a preferred destination for tourism. Today, our ambitions have grown bigger and our priorities have changed. Raising our global competitiveness requires new ways of thinking,” he added.

The Department is tasked with meeting seven targets to further strengthen Dubai’s leading position in tourism and economy and make it the world’s best city to live in and work, His Highness said.

These include increasing the added value of the industrial sector by 150 per cent in the next five years, expanding export markets for local products by 50 per cent and increasing the number of tourists coming to Dubai by 40 per cent to 25 million visitors by 2025.

The newly launched entity is also tasked with making Dubai one of the top five global cities in the main economic indicators, attracting 100,000 companies in three years as well as 400 global economic events annually by 2025.

The new entity is also tasked with encouraging private and family-owned businesses to get listed on Dubai bourse.

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