Dubai Aims for Top 3 Global Business Hub by 2030, Plans 50 Global Offices
Dubai continues to solidify its status as a global business hub. The Dubai Economic Agenda (D33) aims to place Dubai among the top three cities worldwide. Meanwhile, Dubai Chambers plans to establish 50 global offices by 2030, starting with Beijing in 2023.
Dubai's appeal is evident in its economic growth. In the first half of 2023, the UAE economy grew by 3.7% in real GDP, driven by the non-oil sector. This growth is supported by Dubai's success in attracting greenfield FDI projects, where it retained the top global spot in 2022.
The Dubai Business Forum, held in November 2023, focused on 'Shifting Economic Power: Dubai and the Future of Global Trade'. Abdul-Aziz Abdulla Al Ghurair, chairman of Dubai Chambers, highlighted the importance of global trade and investment at the event. The forum comes at a time when Chinese investors are increasingly viewing Dubai and the region as attractive expansion options.
Dubai's startup ecosystem is thriving. In 2022, startups in Dubai raised over USD 2 billion in funding, double the amount from the previous year. Looking ahead, Dubai plans to attract 300 digital-focused startups in 2024, aiming to nurture the next generation of unicorns.
With the UAE set to join BRICS in 2024, businesses between the UAE and BRICS members stand to gain new opportunities. As Dubai's global influence grows, so does its commitment to enhancing its reputation as a fast-growing business center. The opening of representative offices worldwide, starting with Beijing in 2023, is a testament to this commitment.
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