Dubai aims to become one of the world’s top three economic cities by 2033. To this end, it has launched a new program, the Foreign Direct Investment (FDI) Development Program, which aims to attract $177 billion in investments over the next decade.

This announcement comes after it solidified its position as the world’s top destination for greenfield foreign direct investment projects for three consecutive years, highlighting its attractiveness to investors even amidst global challenges.

To achieve this goal, the FDI Development Program will allocate $6.8 billion over ten years to support the objectives of the D33 economic agenda, a comprehensive development plan launched in 2023. 

Sheikh Maktoum bin Mohammed Al Maktoum, Deputy Prime Minister and Minister of Finance, emphasized Dubai’s existing strengths as a business hub, citing its “advanced enablers and tools” and its ability to attract “top talents and global investment.”

A key component is the Dubai Economic Model, a data-driven system that will track Dubai’s progress against its economic targets using 3,000 performance indicators. 

This model, overseen by the Department of Economy and Tourism, will utilize “interactive dashboards and policy impact assessment reports” to inform decision-making.

The investment specifically targets attracting new international companies and supporting the expansion of existing ones. Dubai will leverage its “unique competitive advantages,” which include its logistics infrastructure, strategic location, and talent pool, to solidify its position as a global commercial center.

D33, the broader economic agenda the FDI program supports, has even more ambitious goals. It aims to double the size of Dubai’s economy by 2033, fostering the creation of 30 unicorn companies valued at over $1 billion each. The plan also positions Dubai as a leader in the digital economy, business innovation, sustainability, and nurturing local talent.