DEWA to spend Dhs40 billion on projects in next 5 years
The Dubai Electricity and Water Authority (DEWA) intends to spend Dhs 40 billion on major projects over the following five years. It also involves financial contributions to the growth of clean and renewable energy initiatives. Saeed Mohammed Al Tayer, MD, and CEO said DEWA intends to invest about Dhs16bn to strengthen and expand electricity and water transmission and distribution networks and about Dhs12bn to complete the independent power producer (IPP) projects in the Mohammed bin Rashid Al Maktoum Solar Park, the Hassyan Power Complex and the Independent Water Producer (IWP) projects at Hassyan.
Dubai Airport announces new 24/7 customer centre
Dubai International (DXB) announces the opening of a new customer contact center that offers “always-on” access to DXB customer support representatives whenever, wherever, and on their preferred channel. The contact centre includes 24/7 bilingual support as well as the most updated and consistent information across all channels, including automated flight status checks without having to speak to an agent. DXB recorded 13.6 million passengers in Q1 2022, marking its busiest quarter since 2020.
Dubai’s Crown Prince announces new metaverse strategy
The Dubai Metaverse Strategy was introduced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and head of the Dubai Executive Council. “We launched the Dubai Metaverse Strategy today, which aims to foster innovation in new technology. Dubai is home to over 1,000 companies operating in the metaverse and blockchain sectors, which contribute $500m to our national economy,” Sheikh Hamdan said. Sheikh Hamdan had said the committee had started work on key pillars and the objectives of the Dubai Metaverse Strategy at the time.
Dubai maintains its global tourist FDI leadership
The new investments and projects generated 5,545 new jobs during the year, according to the Dubai FDI Monitor report, published by the Dubai Investment Development Agency (Dubai FDI), an agency of the Dubai’s Department of Economy and Tourism (DET). Dubai’s tourism sector attracted Dhs6.4bn ($1.7 billion) in FDI across 30 FDI projects in 2021. The value of total FDI capital flows into all sectors in Dubai exceeded Dhs26bn from 618 announced FDI projects in 2021, with a growth rate of 5.5 percent compared to 2020.
Saeed Al Maktoum appointed as chairman and Reem Al Hashimy as CEO of Expo City
Sheikh Ahmed bin Saeed Al Maktoum has been named chairman and Reem Al Hashimy has been named CEO of the Expo City Dubai Authority by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. On June 20, Sheikh Mohammed announced the opening of Expo City Dubai. Transforming the expo site into a new city, Expo City Dubai will be a smart destination for businesses, driven by sustainability, innovation, education, and entertainment. It is set to open in October this year.
Dubai is recognized as the fifth-best shipping hub in the world
Singapore retained its rank as the top international maritime hub for the ninth consecutive year in 2022, according to the Xinhua-Baltic International Shipping Centre Development (ISCD) Index. The top five international shipping centers in 2022 are Singapore, London, Shanghai, Hong Kong, and Dubai. The value of global trade rose by almost 15 percent to a record $7.7 trillion in the first quarter of 2022, an increase of about $1tn compared with the same period last year, according to the UN Conference on Trade and Development (Unctad).
