Dubai approves adoption of new future model of Dubai SME

Dubai approves adoption of new future model of Dubai SME

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, today chaired a meeting of the Council, during which he approved several groundbreaking projects to support the Dubai Economic Agenda D33.

The meeting was attended by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE.

Sheikh Hamdan emphasised the significance of forward planning and preparation, which are key elements of the sustainable development strategy adopted by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. This approach has been a key driver of Dubai’s rise as a leading global city as well as its ability to set new standards in future readiness and create an integrated infrastructure that rivals the world’s best. Dubai has emerged as one of the world’s best destinations to live and work and a place that offers a stable and dynamic environment for people to achieve their highest potential, His Highness added.

Private Sector Partnerships

The Executive Council further approved the centennial Sewerage System, a major new municipal project for Dubai. The system, which will create one of the world’s most advanced and sustainable infrastructure, will be constructed in partnership with the private sector. The project has been designed to serve the needs of the population for the next 100 years in alignment with the Dubai Economic Agenda D33 and the Dubai Urban Plan 2040.

With an investment of AED80 billion, the Sewerage System will reduce carbon emissions in the sector by 25%, promote circular economy principles, and contribute to Dubai’s global development and competitiveness indicators related to quality of life. The private sector will help realise these goals by working hand in hand with the government to enhance future readiness.

His Highness has directed the Dubai Municipality to open the way for private sector companies to partner with it to implement the sewage system, reflecting their vital contribution to the development of Dubai’s integrated and advanced infrastructure. Private sector investment in projects geared towards achieving the goals of the Dubai Economic Agenda D33 is set to exceed AED1 trillion by 2033.

Fostering Exceptional Business Ventures

His Highness Sheikh Hamdan bin Mohammed emphasised the importance of supporting entrepreneurship and empowering emerging projects. His Highness noted:

“Small and medium enterprises continue to receive the unwavering support of His Highness Sheikh Mohammed bin Rashid Al Maktoum. Over the past two decades, the development of an entrepreneurial ecosystem has provided Dubai’s economy with dynamic growth based on knowledge and innovation. Today, SMEs play a pivotal role, accounting for the largest share of businesses in Dubai.”

To further empower the role of the SME sector, His Highness approved the adoption of the future model of the Mohammed Bin Rashid Establishment for SME Development (Dubai SME). Through this strategy, Dubai aims to support innovative ideas and projects, create 86,000 new job opportunities, enable 8,000 Emirati entrepreneurs, establish 27,000 projects, and contribute approximately AED9 billion to the emirate’s GDP, aligned with the Dubai Economic Agenda D33.

Future-focused infrastructure

The approval of the new sewerage system positions Dubai as one of the world’s most modern, advanced, and sustainable cities. It will help deliver the Dubai Clean Energy Strategy 2050, as well as the city’s sustainable development goals by improving operational efficiencies and extending the system's lifespan from 25 to 100 years, in line with the objectives of the Dubai Economic Agenda D33 and Dubai Urban Plan 2040.

As part of this mega project, strategic tunnel projects will be implemented in Dubai’s Jebel Ali and Warsan stations. The initiative includes reducing the number of main wastewater treatment plants from 20 to two in urban areas, as well as reducing main pumping stations from 13 to two. Moreover, sub-pumping stations will be reduced from 110 to less than 20 in urban areas. Additionally, treatment plants will be transformed into clean plants, and recycled water will be maximised.

Building the economy of the future

The new strategy of Dubai SME, which operates under the Department of Economy and Tourism, aims to support the entrepreneurial ecosystem in Dubai across all economic sectors and stakeholders. This approach is key to fostering a flexible and diversified future economy, contributing approximately AED9 billion to the GDP, creating 86,000 job opportunities, empowering 8,000 Emirati entrepreneurs, and supporting efforts to establish 27,000 projects. These efforts align with the aim of the Dubai Economic Agenda D33 to raise the demand for local services and goods to AED3 trillion by 2033.

The strategy expands the entity’s scope to include emerging projects in the new economy and key sectors, supporting 100% Emirati-owned establishments, promoting emerging projects in the new economy for Emiratis and other nationalities, and assisting high-growth companies in both new and traditional sectors to access global markets. Furthermore, it supports the growth of independent next-generation companies.

The strategy targets specific sectors for Emirati entrepreneurs, with a focus on future-oriented, technology-based, and scalable business models. These sectors include financial services, advanced manufacturing, transportation, energy technology, retail and e-commerce, professional services and new business models, food and agricultural technology, health and society, and education technology.

News Source: Emirates News Agency

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