Sheikh Mohammed merges Dubai’s economy and tourism departments

Two key government departments, Dubai Economy and Dubai Tourism, will now be merged under a single entity called Dubai’s Department of Economy and Tourism.

A decision to this effect was issued on Saturday by Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai who is also the Vice President and Prime Minister of the UAE.

Helal Al Marri, who was recently appointed as the head of the new board of directors of Dubai Financial Market, has now been named as director general of the newly formed department too.

Read: New board of directors announced for Dubai Financial Market

The Department of Economy and Tourism is tasked with meeting seven targets to strengthen the emirate’s position in tourism and economy. These include increasing the added value of the industrial sector by 150 per cent in the next five years, expanding export markets for local products by 50 per cent and increasing the number of tourists coming to Dubai by 40 per cent to 25 million visitors by 2025.

The new entity is also tasked with making Dubai one of the top five global cities in the main economic indicators, attracting 100,000 companies in three years as well as 400 global economic events annually by 2025.

Furthermore, it is also tasked with encouraging private and family-owned businesses to get listed on Dubai bourse, according to state run news agency WAM.

In his capacity as Ruler of #Dubai, @HHShkMohd issues a decision to merge @Dubai_DED and @dubaitourism into one entity under the name ‘Dubai’s Department of Economy and Tourism’.https://t.co/9OPAqmAo5G

— Dubai Media Office (@DXBMediaOffice) November 6, 2021

The Department of Economy and Tourism will work to attracting foreign investments, increase exports, support SMEs, and develop plans for Dubai’s new economic sectors.

The new structure will support decision makers in developing policies and assessing the strategic performance of the economic sector. The goal of the restructuring is said to create a government model that is flexible, efficient and able to take rapid decisions.

The new structure will also reportedly help facilitate and reduce procedures related to the issuance of trade and tourism licenses to promote Dubai’s competitiveness, and achieve the optimum usage of the human and financial capital.

“The newly formed department seeks to support the economic and tourism transformations taking place in the emirate. It will adopt the same competitiveness and efficiency of the private sector and work together with it on various development projects,” said Sheikh Mohammed.

“Dubai’s economy has witnessed different phases of development throughout its history, which has helped shape the city’s current status as a model for economic development and a preferred destination for tourism. Today, our ambitions have grown bigger and our priorities have changed. Raising our global competitiveness requires new ways of thinking.”