Dubai Council launches AED 1bn fund for new-economy companies

Dubai – Mubasher: Dubai is set to launch a new stock market and a AED 1 billion fund to support new-economy companies, which have the potential to boost the emirate's future growth, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai and chairman of Dubai Executive Council, said in a tweet on Tuesday.

In addition, the Executive Council of Dubai has launched the Dubai Future District as the Middle East’s largest future economy-focused district, Al Maktoum added.

The new district will feature future economy research centre as well as business incubators and accelerators, he highlighted.

Moreover, a team has been created to develop a new logistical and legislative framework in order to achieve the emirate’s target of non-oil foreign trade of AED 2 trillion by 2025.

We also gave direction to enhance Dubai's international presence, through establishing 50 offices across 5 continents,” he remarked.

Mubasher Contribution Time: 14-Jan-2020 15:00 (GMT)
Mubasher Last Update Time: 14-Jan-2020 15:00 (GMT)