Day: October 9, 2023

In an effort to maintain continuity and generational shifts, the new curriculum, the Dubai Family Business Administration curriculum, aims to empower new family enterprises.

Dubai has launched a new initiative to support family companies, which are an essential component of the regional economy. Sheikh Maktoum Bin Mohammed, the deputy ruler, deputy prime minister, and minister of finance, made the announcement.

According to a statement on Zawya, the new curriculum, the Dubai Family Business Administration curriculum, seeks to empower new family enterprises in an effort to ensure continuation and generational shifts. It was jointly introduced by the Mohammed Bin Rashid Center for Leadership Development and the Dubai Centre for The family Businesses.

The deputy ruler stated on X, previously known as Twitter, “Family companies are integral to Dubai’s economic prosperity, and by strengthening them, we strive to accomplish the goals stated in economic cities globally.” According to the UAE Department of Economy, over 70% of employees work for family firms, and 90% of private-sector businesses are family-owned.

Family businesses in Dubai provide 40% of the city’s GDP. Mohammad Ali Rashed Lootah, president and chief executive officer of the Dubai Chambers, emphasized the significance of family-owned enterprises in Dubai’s aspirations for sustainable development. He emphasized the management program’s contribution to developing second-tier competences, boosting Dubai’s competitiveness, and making it a sought-after location for business.

The Dubai Centre for Family-owned companies was established by Dubai Chambers to provide family-owned businesses with leader transition, planning for succession, and growth training. Sheikh Maktoum added in a statement that “this program is an expansion of a series of programs and plans aimed at assisting family-owned enterprises, and its success indicates the development of Dubai’s business community.”

 

Dubai’s ability to retain its top spot in luring Greenfield FDI projects attests to its capacity to provide international investors unrivaled development potential and value.

According to Financial Times ‘fDi Markets’ statistics, the extensive internet-based database on cross-border Greenfield investments, Dubai continues to be the top global location for acquiring Greenfield Foreign Direct Investment (FDI) initiatives, thanks to the emirate acquiring 511 Greenfield projects in H1 2023.

Dubai has surpassed Singapore, which was in second position, by 325 projects as it continues to set new standards for performance globally as an investment destination. Dubai’s global share of attracting Greenfield FDI projects throughout the first half of 2023 was 6.58%, up from 3.83% during the exact same six-month period in 2018.

The outcomes, which highlight the emirate’s position as a significant investment destination, are in line with the 10-year Dubai Economy Agenda D33, which intends to double the emirate’s economy over the course of that time.

His Majesty The Crown Prince of Dubai and the head of The Executive Council of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, stated: “Dubai’s ability to maintain its top ranking in luring Greenfield FDI projects demonstrates the city’s ability to create unrivaled growth opportunities and value for international investors.
The emirate has accelerated its efforts to promote diversification of the economy and innovation under the visionary direction of His Royal Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and the Prime Minister of the UAE and Ruler of Dubai.

His dedication, along with his embrace of cutting-edge technologies, is paving the way for a future rife with possibilities for growth and wealth. We continue to endeavor to establish a purchasing environment that not only earns the trust of entrepreneurs from across the world but also inspires them to contribute to Dubai’s transformation in line with the clear growth path outlined under the Dubai Economic Agenda D33.

The Dubai’s Department of Economy and Tourism (DET) in Dubai recently released new statistics that indicates the city registered a total of 880 declared FDI projects during January and the end of June of this year, an increase of 70% year over year. The Uae FDI Monitor keeps track of, verifies, and evaluates all kinds of FDI projects that have been declared in the emirate.

Additionally, according to data from the Dubai FDI Monitor, 65% of all announced FDI projects are Greenfield FDI projects in Dubai. According to the research, when contrasting H1 2023 with a comparable period in 2022, Reinvestment FDIs climbed from 3% to 4.4% year over year.

Global Greenfield foreign direct investment attraction increased year over year in Dubai as well, hitting AED20.87 billion (USD5.68 billion). Dubai improved from eighth place globally in H1 2022 to sixth place globally in H1 2023, according to the Financial Times Ltd. “fDi Markets” statistics.

In addition, in accordance with Financial Times Ltd. “fDi Markets” data, Dubai ranks first internationally in the attractiveness of HQ FDI projects after luring 33 HQ operations in the very first half of this year, beating out London and Singapore.