Dubai Launches Strategic Economic Financial Vision Under Sheikh Maktoum

In a decisive step to reinforce Dubai’s position as a global economic and financial powerhouse, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum—First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Higher Committee for the Development of the Economic and Financial Sector—chaired a critical meeting of the Committee. The session focused on upcoming strategic objectives, forward-looking programs, and high-impact policies aimed at ensuring sustainable development and competitiveness in the financial and economic landscapes of the emirate.

Dubai’s Global Economic Position Highlighted

H.H. Sheikh Maktoum emphasized Dubai’s strategic advantage and global influence in the economic sector, attributing its continued success to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai. According to Sheikh Maktoum, consistent progress in the emirate’s economic and financial sectors is crucial to reinforcing its global stature.

He noted that Dubai’s evolving business environment, combined with its policy reforms and innovation-focused strategies, offers an attractive landscape for both local and international investors. The emirate’s ability to stay ahead of global economic shifts while maintaining a resilient and adaptive economy was central to the discussion.

Committee’s Role in Strategic Development

The Higher Committee plays a pivotal role in shaping the emirate’s economic direction. Sheikh Maktoum underlined the committee’s responsibility in approving comprehensive economic and financial strategies, reviewing existing regulations, and ensuring alignment with international best practices. The committee is tasked with modernizing sectoral laws, improving governance, fostering transparency, and encouraging public listings on Dubai’s financial markets.

He stressed the importance of these strategic pillars in accelerating Dubai’s transition into a next-generation economic hub, especially through policies that attract investments into cutting-edge industries like fintech, digital assets, and advanced technologies.

Vision for Qualitative Growth

With the objective of reaching a new phase of qualitative development, Sheikh Maktoum pointed out that the committee is setting ambitious goals through an integrated and futuristic vision. These goals are designed to enhance Dubai’s attractiveness as a preferred global economic destination. He urged committee members to devise innovative mechanisms to solidify Dubai’s competitive advantage, ensuring it remains a vibrant model of global development.

Highlighting Dubai’s consistent top rankings in global economic indicators, Sheikh Maktoum conveyed the responsibility to maintain this upward trajectory, while laying out the committee’s mission to provide a unified strategy for sectoral excellence.

Submission of a Comprehensive Financial Sector Vision

Sheikh Maktoum announced that the committee will submit a detailed strategic vision for the financial sector’s development to H.H. Sheikh Mohammed bin Rashid Al Maktoum. This blueprint will encompass transformative policies and impactful initiatives aligned with Dubai’s ambitions to become a global leader in financial innovation and economic resilience.

The comprehensive plan aims to further expand the financial services sector’s contribution to Dubai’s GDP while reinforcing its appeal to international investors, institutions, and fintech enterprises.

Key Committee Members

The committee includes notable figures driving economic policy in the UAE. Members include Mohammad bin Abdullah Al Gergawi as Vice Chairman, along with Mohammad bin Hadi Al Husseini, Omar Sultan Al Olama, Helal Saeed Al Marri, Essa Abdulfattah Kazim, Faisal Yousef bin Sulaitin, Fadel Abdulbaqi Al Ali, Saeed Al Attar, and Huda Sayed Naim AlHashimi, who serves as Secretary-General.

This high-level team of policymakers and economic strategists collaborates to craft and implement policies that advance Dubai’s fiscal and financial evolution.

Strategic Plan and Long-Term Agenda

The strategic plan reviewed during the meeting outlines a long-term economic agenda centered around core priorities. Among them is reinforcing Dubai’s status as a premier global center for wealth and asset management. The plan includes attracting global capital, enabling the growth of startups and scale-ups, and supporting unicorn businesses.

Additionally, the agenda focuses on creating an innovation-driven investment climate by nurturing a competitive banking environment, promoting fintech, and accelerating digital transformation, especially in virtual assets.

Modernization of Legal and Regulatory Frameworks

To ensure alignment with global economic shifts, Sheikh Maktoum instructed the committee to initiate updates to laws and regulations governing Dubai’s financial and economic sectors. These changes are designed to foster a more transparent, efficient, and investor-friendly environment while integrating advanced digital infrastructure into economic systems.

Updating regulatory frameworks will also enhance judicial processes related to the economy and support the creation of specialized courts that streamline business and financial litigation.

Streamlining Financial Market Operations

Sheikh Maktoum directed the committee to facilitate greater access to Dubai’s financial markets by simplifying listing procedures and encouraging private and public sector entities to enter the capital market. This move aims to reinforce Dubai’s image as a top-tier hub for regional and global financial activity, while providing diverse investment avenues for businesses across sectors.

Efforts will be made to improve market liquidity, increase IPO opportunities, and create conditions conducive to long-term investor confidence.

Diversifying Economic Investments

A key highlight of the committee’s plan involves the diversification of investments across critical emerging sectors. These include the digital economy, fintech, virtual assets, smart industries, and entrepreneurship. Dubai intends to attract forward-thinking entrepreneurs and companies operating at the cutting edge of technology, innovation, and sustainability.

Encouraging innovation in high-value industries will position the emirate as a cradle of future economic models, empowering it to navigate technological disruptions and global economic trends effectively.

Aligning With the Dubai Economic Agenda D33

The committee reaffirmed its support for the Dubai Economic Agenda D33, a comprehensive strategy launched to double the size of the emirate’s economy over the next decade. This includes nurturing partnerships between public and private entities and ensuring seamless coordination among various economic institutions.

Committee members were directed to align all initiatives, laws, and future policies with the D33 goals to ensure integrated and sustainable development.

Monitoring Trends and Identifying Opportunities

Sheikh Maktoum emphasized the importance of proactive economic leadership by monitoring potential opportunities and anticipating challenges. The committee’s role in identifying transformative trends and framing recommendations to leverage or counteract them is vital in preserving Dubai’s economic momentum.

Staying ahead of regional and global developments ensures Dubai’s strategies remain relevant and resilient amid uncertainties and disruptions in the global market.

Enhancing Dubai’s Global Economic Standing

The meeting also reinforced Dubai’s commitment to solidifying its global competitiveness through streamlined economic enablers. Sheikh Maktoum highlighted the importance of a cohesive ecosystem that improves the ease of doing business and sustains Dubai’s high rankings in global competitiveness indices.

An integrated policy framework is being developed to ensure that the emirate continues to attract foreign direct investments, global talent, and technological innovators across sectors.

Supporting Investors and Portfolio Managers

A significant part of the committee’s roadmap involves initiatives designed to empower investors and facilitate smooth capital movement. These efforts aim to ensure Dubai remains a fertile ground for investment and entrepreneurship. The strategies focus on removing entry barriers, offering world-class infrastructure, and establishing Dubai as a magnet for portfolio managers and investment funds.

Dubai seeks to position itself as a compelling alternative to traditional financial centers, offering speed, efficiency, and digital-first business solutions.

Performance Monitoring and Sectoral Review

To ensure accountability and progress, the committee will regularly evaluate the performance of the economic and financial sectors. It will rely on data analytics, sector-specific indicators, and real-time feedback to measure success and implement course corrections when needed.

This data-driven approach enables informed decision-making and ensures that the economic development strategy remains robust and future-proof.