Dubai has adopted a five-year plan to increase the emirate's foreign trade from AED1.4 trillion ($381.16 billion) to AED2 trillion ($544.51 billion), said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.
In a series of tweets after a Dubai Council meeting, he said: "We have deployed the necessary resources to implement our plan.
"We issued several new resolutions during a Dubai Council meeting today. First: we directed a complete restructuring of the Government of Dubai to be more agile, efficient and adaptive to the rapidly-changing world as we enter a new phase," he said.
The meeting also decided to form three new chambers of commerce in Dubai that will include Chamber of International Trade to support the interests of international companies based in Dubai, and Chamber of Digital Economy to meet the growing technological trends of the future.
Juma Al Majid has been appointed Honorary Chairman of Dubai Chamber; Abdulaziz Al Ghurair as Chairman of Dubai Chamber; Sultan bin Sulayem as Chairman of Dubai Chamber of International Trade; and Omar AlOlama as Chairman of Dubai Chamber of Digital Economy, HH Sheikh Mohammed said.
"We have approved a new global trade map for Dubai that establishes routes to over 400 cities around the world, and we aim to expand this network to 200 additional cities to establish the UAE’s role as an international business hub," he said.
Dubai officials and department heads will sign 3-year binding contracts that will define expected outcomes and work structure. We will work together towards our next development journey, he said.
"Our vision lies in the future. Our resolutions must be as big as our plans to be at the heart of the global business. The future looks promising once we have the determination and optimism for it," he said.
Source: Trade Arabia