Dubai approves transformative initiatives; Agricultural incentives and ban on single-use plastics
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His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, chaired a council meeting today, during which it approved several transformative initiatives to stimulate the industrial sector in Dubai, incentives for the agricultural technology sector and a policy banning single-use plastics.
The meeting was attended 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 United Arab Emirates.
His Highness underlined the critical role of a diversified economy in realizing Dubai’s ambitious goals outlined in the Dubai Economic Agenda D33which seeks to propel Dubai into the ranks of the world’s top three cities by 2033 in economic terms, in line with of His Highness Sheikh Mohammed bin Rashid Al Maktoum vision.
His height saying:
“Dubai leads by example, empowering businesses, fostering innovation and embracing sustainability. The approved incentives will double Dubai’s agricultural sector by 2033, reinforce its global leadership in agricultural technology and improve the food security sector. In the industrial sector, we are prepared to increase the added value of manufacturing.”
His height saying:
“These steps represent significant measures to expand agriculture’s contribution to Dubai’s diverse economy by doubling the size of the sector. We call on investors, experts and innovators to join our global research, development and innovation platform.”
His height He also highlighted the social impact of curbing single-use plastics, encouraging sustainability and promoting climate awareness, particularly ahead of COP28.
His height expressed gratitude for people and institutions reducing the use of bags and single-use plastics in conjunction with the UAE’s celebration of COP28 this month. His Highness also highlighted the important role that all segments of society play in establishing a culture of sustainability, participating in reducing the carbon footprint, improving the circular economy and laying the foundations for a future based on climate awareness.
Raising Dubai’s manufacturing potential
The Executive Council approved an ambitious plan to boost Dubai’s industrial sector. The strategic initiative is in line with the objectives of the Dubai Economic Agenda D33 and aims to increase MAV by AED 58 billion, equivalent to 2.5 times the current value of the sector.
The plan is designed in three key programs covering the period 2024-2033: the National Program supports all manufacturing companies, the Special Program serves priority sectors and the Strategic Program encourages growth through exemptions, investments in infrastructure and facilities of capital. This strategic approach positions Dubai as a global manufacturing power, boosting its economic potential.
Empower the agricultural technology sector
The Executive Council approved a plan to double the size of Dubai’s agricultural sector by 2033. This strategic initiative aims to position Dubai as a global leader in the adaptation and deployment of agricultural technology, transforming the city into a hub for research and agricultural innovation. This effort will attract international corporations and foster local businesses, contributing to economic growth, improving competitiveness and supporting food security.
The incentive package covers five main areas, including investment benefits and fee waivers, competitive financing loans, research and development platforms, attracting global leading companies, and facilitating local market entry for local producers. This comprehensive approach involves streamlining agricultural licensing, offering government fee waivers, attracting specialized talent, and strategic partnerships to support growth. In particular, it aims to stimulate the use of clean and renewable energy sources in agricultural technology. The plan seeks to attract major global companies, emerging firms and local companies while promoting the consumption of locally produced goods.
Promoting local added value
The Executive Council also approved the Public Procurement ProgramValue in the Country Program, an initiative to support local companies, boost the growth of SMEs and promote local production.
In alignment with the Dubai Economic Agenda D33To achieve its objectives, the program adds local production evaluation criteria to government procurement tenders and requires government departments to allocate a percentage of purchases to SMEs. It also seeks to include clauses in procurement contracts with financing options for SMEs to ensure greater participation in the government procurement process. Additionally, the program establishes a local content management department to support and direct government procurement of local content.
Raising sustainability ahead of COP28
The Executive Council has expanded its single-use bag reduction policy to cover more plastic materials as part of the phase-out of single-use plastics by 2026. This policy now extends to items such as single-use plastic bags use, tableware and polystyrene containers. Community awareness campaigns, led by government departments and private retailers, continue to promote eco-friendly alternatives to single-use plastics. A recent survey reflects a strong desire for single-plastic alternatives: 72% of Dubai community members expressed a willingness to adopt eco-friendly options. The survey also showed that 62% of people already use environmentally friendly alternatives, and 71% of hotels, 67% of shops and 50% of restaurants in Dubai are in the process of transitioning to alternatives. sustainable.
These steps, which are aligned with Dubai’s preparations to host COP28, emphasize the importance of sustainability, reuse and recycling in shaping the global green and circular economy. Implementation of the policy, initially introduced in February 2022, is continually evaluated to ensure that single-use plastic bags are completely phased out by 2026.
News source: Dubai Press Office
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