Many people have been wondering about how is the employment landscape going to be in the UAE the next ten years. Now, this question has an answer. The Dubai government unveiled the Dubai Economic Agenda (also known as “D33”) on January 4, 2023, with the goal of expanding the local economy and elevating Dubai to the status of one of the world’s leading global cities by the year 2033. Consequently, this agenda is looking to positively affect the jobs in Dubai and more.
In this article, we will be talking about the economic agenda D33 and its relation with the jobs in Dubai. As the government is looking to elevate the local economy, entrepreneurs and investors will have more opportunities to expand to the region and provide thousands of job opportunities to workers from all around. Let us observe:
1. Introduction
2. Know how this new agenda will beneficiate employers in the UAE
3. Learn the advantages this new agenda brings to people looking for jobs in the UAE
1. Introduction
Over the next ten years, a new plan in Dubai seeks to increase the size of the economy. By 2033, the overall economic targets set forth in the Dubai Economic Agenda, or “D33,” are Dh32 trillion. Dubai wants to maintain its status as one of the world’s top three economic hubs through D33.
Dubai’s foreign trade will increase by double to Dh25.6 trillion. Additionally, 400 new cities will be added to its commercial network.
According to Sheikh Mohammed, Dubai’s modern era will turn 200 in 2033. ” Our D33 financial adventure will come to an end in 2033 as well. We are aware of where the world economy will be in the upcoming years. For individuals who are aware of their goals, the world opens up.”
On Twitter, he stated that Dubai will be one of the top 4 world economic centers in the world. ” “In the next ten years, we want to attract foreign direct investments worth Dh 700 billion. Annually, digitalization will add Dh 100 billion to Dubai’s GDP. We have over 300,000 investors in Dubai. I encourage everyone to join us on our mission to become one of the world’s fastest expanding cities.”
He states that Dubai’s economic plan will involve the announcement of 100 revolutionary projects.
2. Know how this new agenda will beneficiate employers in the UAE
The business climate in the UAE is favorable. It has an advantage over other nations due to its first-rate infrastructure, specialized services, and expert knowledge. Nevertheless, thanks to this new agenda D33, the opportunities for businesses in the UAE will be even bigger than they were before.
Now, as trade tensions and security concerns continue to stymie corporate growth in the developed world, an increasing number of investors are looking to the UAE as a place to do business. Consequently, thanks to the support of the UAE government, entrepreneurs will see that the road to investment is even wider.
The UAE has rapidly transitioned from an economy based on fishing and pearls to a financial powerhouse accessible by two-thirds of the world’s population in an eight-hour trip.
With a thriving economy; politically stable system; robust capital flow; favorable taxation environment, and open trade regimes, the UAE is currently an appealing investment destination with a D33 plan of being the economic, touristic, and commercial capital for more than two billion people.
Consequently, these lofty objectives will continue to foster a welcoming, stable, and secure entrepreneurial ecosystem.
2.1 How will this economic boost will affect national investors?
Nationals looking to invest inside the UAE will be able to reap the benefits of this new agenda. As the D33 plan looks to attract foreign investors, local companies can start seeking for foreigners to associate and develop with.
Here are some of the schemes that the D33 agenda is proposing:
- Dubai Economic Corridors 2033: this with the objective of enhancing foreign trade with cities in Latin America, Southeast Asia, and Africa.
- Dubai Traders Project: this is the scheme that will benefit local investors. The Dubai Trades Project is looking to support and empower UAE traders in key growing industries. For example, the IT and the technology industry.
- Dubai Unified License: under this plan, companies in Dubai’s economic zones will obtain a unique business identity. This means that a new license will be in place.
- Sandbox Dubai: with this, Dubai will become an incubator hub. Subsequently, helping businesses to innovate and assisting investors to commercialize and test all types of new goods and technology.
- Dubai Project: this looks to establish the region as an important educational hub for the most prominent institutions around the world. Therefore, supporting 400 businesses in their expansion and building capacity to foment the grow of SMEs.
In addition, the D33 agenda is looking to provide help to 30 companies in diverse developing industries to become unicorn organizations. Moreover, it will also bring 65,000 young Emiratis into the private sector in Dubai. Consequently, if you are a local investor, now, more than ever you will need an RPO agency to contribute to this new project.
2.2 How will this new agenda will affect foreign investment?
Dubai and the UAE have always been the perfect spot for foreign investment, as it is a very open zone for entrepreneurship. However, now that the D33 agenda is in place, opportunities for expat investors will double.
The UAE is regarded as a top starting point for nations looking to enter global markets. Now, with the D33 agenda it will establish itself as the primary place for foreigners to develop and expand. Thanks to the Dubai Economic Corridors 2033 plan, many international investors will have the big opportunity to open their businesses in the UAE. As a result, they will be able to use local agencies to recruit employees for their companies.
Dubai’s status as the world’s favorite location is clear, and it will only continue to grow. For all of these reasons, people are swarming to Dubai to begin trading, work, and live there. Expats from 200 different nations make up about 90% of Dubai’s population. They are mostly attracted to the Emirate because of the business and investment prospects.
Because of the primary initiatives and activities covered by the D33 Agenda, it is projected that many industries and businesses would experience increased competitiveness and growth. Additionally, as Dubai grows as a hub for innovation and finance, demand for services and products from the Emirate will soar in the years to come. With the D33 Strategy, Dubai has reaffirmed its commitment to serving as a premier market hub for all significant and emerging industries.
3. Learn the advantages this new agenda brings to people looking for jobs in the UAE
Now that the D33 agenda is starting and investors from all over the world will be establishing their businesses here, people looking for jobs in Dubai can make the most of it. As new companies open, the need for mass hiring, temporary employees, freelancers, and more will grow.
Therefore, we can see that the government is also implementing this new agenda with employees in mind. Finding jobs in UAE for freshers will be easier than ever in the following years, as companies will be hiring. Consequently, we can say that the UAE is providing IT jobs in UAE, as this is one of the industries they will be highlighting.
Finding employment in the UAE can be difficult for locals, nevertheless, with the agenda D33 it will be easier. The government is now looking to also highlight local talent and provide opportunities for Emiratis looking for HR jobs in Dubai or any other type of jobs. The Emiratization rule will be still in place for foreign companies, therefore, locals will have guaranteed employment.
3.1 Will foreigners have opportunities for jobs in the UAE?
Thanks to the new agenda D33, foreigners will have even more opportunities to find jobs in the Dubai. Since foreigners will now be obtaining more incentives to open their businesses, they can also bring their expat workforce. If they are looking to establish a new company, the UAE will also provide them the means to help them do their permanent hiring.
This means that foreigners will now have more ways to find job; as the employment pool will expand. Job seekers in the UAE do not have to worry about being out of job as there will be an overflow of opportunities for them. All they have to do is comply with the laws of every region, obtain their visas, permits, and a legal contract. Then, they will be able to move to the UAE to live and work legally.
With the new agenda D33 opening businesses and finding jobs in the Dubai will be easier. The government is constantly pushing for ways to open the region for the world to benefit and grow. Therefore, learning about these new plans and laws is very beneficial for entrepreneurs. If you want to know more about topics regarding the hiring area, we invite you to our blogs section.
