Hamdan bin Mohammed has approved a comprehensive incentive package that focuses on supporting local businesses, driving economic growth, enhancing competitiveness, and bolstering food security.
The initiative spans five key areas, encompassing investment benefits, fee exemptions, competitive financing loans, research and development platforms, and facilitating local market entry.
Streamlining Agriculture, Promoting Clean Energy in Agritech
The approach involves simplifying agricultural licensing, offering government fee exemptions, attracting specialized talents, and forming strategic partnerships to spur growth. A notable aspect is the promotion of clean and renewable energy sources in agritech.
The plan aims to attract global companies, emerging firms, and local enterprises while encouraging the consumption of locally produced goods, according to WAM.
Aligned with the Dubai Economic Agenda D33, the Executive Council has endorsed the Government Procurement Program’s In-Country Value Program.
This initiative introduces local production criteria to government procurement tenders, allocating a percentage of purchases to SMEs, and incorporating financing options for SMEs in procurement contracts.
A local content management department is established to guide government procurement of local content, supporting local businesses and SME growth.
Executive Council Expands Sustainability Drive, Targets Phasing Out Single-Use Plastics by 2026
Expanding its commitment to sustainability, the Executive Council has broadened the single-use bags reduction policy to include additional plastic materials, aligning with the goal of phasing out single-use plastics by 2026.
The policy now covers single-use plastic bags, tableware, and styrofoam containers. Community awareness campaigns, led by government departments and private retailers, advocate for eco-friendly alternatives.
A survey indicates strong community support for eco-friendly options, with 72% expressing willingness to adopt them. Additionally, 62% of individuals and a significant percentage of hotels, shops, and restaurants are in the process of transitioning towards sustainable alternatives.
In these steps, championed by Hamdan bin Mohammed and aligned with preparations for COP28, Dubai emphasizes its commitment to sustainability, reuse, and recycling, with ongoing evaluations to ensure the phased elimination of single-use plastic bags by 2026.
