Browsing: Economic growth

The AIM Congress 2024, fostered by the AIM Global Foundation, is a testament to the…

Dubai is set to embark on an ambitious AED 2.5B ($681M) collaborative effort between the public and private sectors, targeting various transformative transport projects.

The Dubai Chamber of Digital Economy announced that it successfully attracted 101 innovative digital startups to the emirate in the first nine months of the year. This achievement is in line with the chamber’s commitment to bolstering Dubai’s digital economy and supporting the objectives outlined in the Dubai Economic Agenda (D33).

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has unveiled the Dubai Economic Agenda D33, a bold initiative designed to double Dubai’s economic size and position the city among the top three global metropolises within the next ten years. This comprehensive plan encompasses 100 transformative projects, targeting an impressive AED 32T in economic growth over the coming decade,

Supporting local businesses, driving economic growth, enhancing competitiveness, and bolstering food security are the focal points of a comprehensive incentive package approved by Hamdan bin Mohammed.
The initiative spans five key areas, encompassing investment benefits, fee exemptions, competitive financing loans, research and development platforms, and facilitating local market entry.

Saudi Arabia’s non-oil economy experienced its most rapid growth in four months during October. This expansion is driven by increased client orders and an improving economic environment. The headline reading of the Riyad Bank Purchasing Managers’ Index (PMI) rose to 58.4 in October, up from September’s 57.2, marking the highest level since June.

Tourism Minister Ahmed bin Aqeel Al Khateeb revealed that Saudi Arabia is investing $800B in the tourism sector, with the goal of attracting 100 million tourists, both local and international, by 2030. He highlighted the Kingdom’s rapid growth in tourism within the G20 nations, having already hosted over 30 million tourists, achieving 40% of the target. This sector plays a vital role in driving economic growth.

His Excellency Abdulla Bin Touq Al Marri, the Minister of the UAE’s Ministry of Economy,…

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Dubai’s economy for H1 2023 demonstrates remarkable resilience and growth, with a 3.2% increase reaching AED 223.8B ($60.9B). Crown Prince Sheikh Hamdan is dedicated to doubling GDP and positioning Dubai among the world’s top three urban economies. Key sectors like transportation, retail, finance, and real estate fuel this expansion, with strong cooperation between government and the private sector. Dubai’s ability to recover and adapt swiftly reaffirms its status as a top international tourist destination, setting a promising blueprint for future economies.