Dubai Economic Leadership Program Session Reveals Three Key Strategies Driving Emirate’s Success in Business and Finance

The Dubai Economic Leadership Program recently held a session that shed light on the three key strategies that have underpinned the emirate’s success over the years. The session, organized by the Mohammed bin Rashid Center for Leadership Development (MBRCLD), aimed to equip participants with the critical skills needed to lead Dubai’s vital sectors in line with the objectives of the Dubai Economic Agenda (D33).

The session featured His Excellency Essa Kazim, Governor of the Dubai International Financial Center (DIFC), who shared insights on Dubai’s development journey and how it has been geared for growth and progress by aligning with free market principles. Kazim emphasized the importance of economic planning and the need for robust economic policies to address the challenge of investing limited resources efficiently to meet unlimited needs.

Kazim highlighted three key strategies that have helped establish Dubai’s economic leadership. The first strategy revolves around the adoption of the free market principle, which Dubai embraced early on to attract traders by offering economic freedom and low-to-no custom tariffs. This approach has boosted Dubai’s import/export market and positioned it as a key economic center globally.

The second strategy focuses on directing all available resources towards creating an attractive framework of laws and systems that regulate the trade sector. Dubai has invested in infrastructure to facilitate export, import, and freight activities, with projects like dredging the Dubai Creek and building ports and free zones playing a crucial role in boosting trade in the emirate.

Moreover, Dubai has adopted the Multiplier Effect principle in directing its investments, focusing on the local economy rather than foreign investment portfolios. This approach promises higher returns on investments and has been instrumental in Dubai’s economic growth.

Looking ahead, the Dubai Economic Agenda (D33) has set ambitious growth targets for the next decade, with the DIFC expected to play a key role in positioning Dubai among the world’s top three urban economies. The DIFC, established to diversify revenue and boost the economy, has been instrumental in supporting the UAE’s economy and attracting foreign banks to the regional market.

The workshops under the Dubai Economic Leadership Program aim to develop participants’ skills and prepare them to lead the economy of the future in line with the D33 objective of doubling the emirate’s economy over the next decade. Led by top economic minds and international experts, these workshops help participants tap into their leadership skills and translate strategic plans into reality.

Overall, the session highlighted the key strategies that have driven Dubai’s economic success and underscored the importance of forward-thinking leadership in achieving the emirate’s ambitious growth targets. As Dubai continues on its development journey, these strategies will play a crucial role in shaping the future economic landscape of the emirate.