The landscape of business setup in Dubai received a new stimulus in 2023 with the emirate announcing a new economic agenda named ‘D33’. The new futuristic agenda aims to double the size of Dubai’s economy with a total economic target of AED 32 trillion. D33 covers 100 transformative projects and will add 400 cities as key trading partners over the next decade.
The new economic agenda is poised to make Dubai one of the world’s top four financial hubs and foreign investors are advised to seize the opportunity by opening companies in the emirate. Business setup consultants in Dubai can help you open your companies in the emirate in line with relevant rules and regulations. Read ahead to know further about D33:
The First Package of Projects under the D33 Agenda
The D33 agenda aims for expediting economic growth by investing in human development, skillsets and advanced technology. This is apart from consolidating Dubai’s global competitiveness, innovation and knowledge-based economy. However, at present, the government has announced only the first package of projects covered under the D33 agenda. Here is a list first package of projects covered under Dubai’s D33 agenda:
1. Launch of Dubai Unified License
The government, as part of the D33 program, will launch the ‘Dubai Unified License’. It will provide a unique commercial identity for all companies across economic zones.
2. Sandbox Dubai
This project aims to make Dubai a major hub for innovation by enabling the testing and commercialization of new products and technologies.
3. Dubai Scale-up Program
It will support the growth of 30 companies in new sectors to become global unicorns. Startups can leverage this program by setting up new companies in Dubai. Startups can seek the advice of business setup experts in Dubai to register their companies in the emirate.
4. Dubai Economic Corridors 2033
The Dubai Economic Corridors 2033 initiative aims to enhance the emirate’s current foreign trade relations with Africa, Latin America and Southeast Asia.
5. Dubai Traders Project
Dubai Traders Project (DT33) will aim to empower a new generation of traders in various important growth sectors, driving growth in the city’s vibrant trading hub.
6. Program to Lure Global Universities
The D33 includes an initiative to attract the world’s leading universities. The primary aim of this program is to make Dubai a leading hub of higher education. Business setup consultants in Dubai can advise higher education providers on the company formation requirements.
7. Program to Support SMEs in Dubai
As part of this program, the government will identify 400 potential SMEs. The government will support the selected companies by enhancing their capacity building and fostering them to grow globally. SMEs are the lifeblood of Dubai’s economy as they account for 95% of the enterprise population in the emirate. Furthermore, SMEs are responsible for 43% of the total workforce and 40% of the total value added in Dubai. If you are an SME owner, you can establish a new company in the emirate with the help of the leading business setup consultants in Dubai.
Top Priorities under D33 over the Next 10 Years
The D33 strategic plan is focused on key priorities such as raising the value added of the industrial sector and promoting export growth, contributing to sustainable economic growth, and achieving self-sufficiency in vital sectors and industries, including manufacturing. The agenda also aims to bolster the productivity of Dubai’s economy by 50 percent through innovation and digital solutions.
Another key priority is to make Dubai one of the leading three global destinations for tourism and business by facilitating a globally competitive environment for business sustainability and driving down the cost of doing business across a number of sectors. Consult with company formation experts in Dubai for more information.
Hire the Companies Providing Business Setup Services in Dubai, UAE
The D33 agenda offers a supportive environment for SMEs and startups for setting up a business in Dubai. The landscape of company formation in Dubai provides you with exclusive benefits such as 100% ownership, strategic location, excellent connectivity, robust infrastructure etc. However, hiring the best business setup consultants in Dubai such as Jitendra Business Consultants (JBC) can make the process easier.
JBC offers flexible business setup services in Dubai so that it becomes easier for you to select activities, determine an appropriate legal structure and properly draft legal documents. JBC’s company formation services in Dubai include visa processing, assistance in bank account opening, and compliance services such as ESR, UBO, and AML-CFT. Consult with us today for a hassle-free company registration experience in Dubai.