Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, approved the launch of Dubai government’s new logo and the allocation of AED40 billion for ‘Dubai Portfolio for Public-Private Partnership’ for 2024-2026.
The decision was announced as Sheikh Hamdan presided over the first meeting of the Executive Council following its recent reconstitution.
Sheikh Hamdan also approved the emirate’s ‘Affordable Housing Policy’ and the ‘Dubai Sandbox’ project, designed to support 100 tech ventures in its initial phase.
The Crown Prince praised the efforts of the former council members in bolstering Dubai’s position on the global stage and extended a warm welcome to the new members. He said that the reconstituted Executive Council marks the start of a new strategic phase to enhance the government’s operational framework and consolidate Dubai’s stature.
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New council to drive change
“The newly formed Executive Council of Dubai will act as the driving force and catalyst for constructive change for Dubai. It will play a pivotal role in ensuring sustainable development, enhancing people’s wellbeing, and strengthening Dubai’s global standing,” Sheikh Hamdan said.
The meeting was attended by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and Deputy Chairman of The Executive Council of Dubai; Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Deputy Chairman of The Executive Council of Dubai; and Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority and Deputy Chairman of The Executive Council of Dubai.
“We have revitalised Dubai’s iconic old emblem and adopted it as the new logo for the Government of Dubai. The new logo symbolises the emirate’s visionary leadership, transformative development journey, and evolution into a city of the future,” Sheikh Hamdan said.
Government entities will be granted a six-month transition period to implement the new logo.
AED40 billion to boost development projects
During the meeting, the Executive Council approved AED40 billion for the ‘Dubai Portfolio for Public-Private Partnership’. Overseen by the Department of Finance through the Dubai Digital Platforms, the portfolio aligns with the objectives outlined in the Dubai Economic Agenda, D33. These goals include increasing government spending to AED700 billion, elevating private sector investment in development projects to AED1 trillion, and raising foreign direct investment to AED650 billion by 2033.
Since its launch in 2021, the portfolio has seen growth in both its value and the number of public-private partnership projects. Originally comprising 30 projects in sectors such as infrastructure, public transport and urban development, valued at over AED25 billion, it underscores the crucial role of private companies as strategic partners in the emirate’s development.
Affordable Housing Policy
The ‘Affordable Housing Policy’ aligns with the goals of Dubai’s 2040 Urban Master Plan, which aims to foster vibrant and healthy communities by providing diverse job opportunities and addressing housing needs.
This policy will cater to various segments of society, offering a range of housing options suitable for individuals across different income levels. Additionally, it will facilitate the development of new accommodations for workers closer to their workplaces, enhancing the quality of these facilities and ensuring the provision of adequate services for all segments of society.
Dubai Sandbox project
The project will support the testing and regulation of cutting-edge technologies in the emirate. It enables tech projects and assists government entities in implementing legislation to keep pace with technological advancements. Comprising four main pillars — economic impact, strategic impact, innovation, and applicability — the project aims to empower companies and enhance the emirate’s business environment.
The project focuses on establishing a standardised governance and regulatory framework for innovation. The sandbox project will accelerate the growth of start-ups based in the emirate, particularly in technology and emerging sectors, fostering an entrepreneurial culture and facilitating access to funding. Additionally, it seeks to have an international impact by integrating with the global innovation ecosystem.
As part of the first package of 100 transformative projects of D33, aimed at doubling the emirate’s economy over the next decade and positioning Dubai as one of the world’s top three city economies, the project aligns with the D33 agenda’s goal of establishing the emirate as a leading hub for innovation. This includes areas such as artificial intelligence, real estate technology, health-tech, and green technologies geared toward addressing climate change.
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