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ABU DHABI / WAM
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai said that Dubai is working towards cementing its position as a pivotal economic and commercial hub for the region in line with the fifty-year charter announced by His Highness that aims to ensure Dubai’s sustained prosperity and accelerate the development journey of the emirate, the UAE and the region.
His Highness said that developing the financial sector is a priority that supports the economic future of Dubai, and further enhances investor confidence given the vital contribution it makes to Dubai’s economy mainly through the Dubai International Financial Center (DIFC), which provides a growth platform for major international financial institutions.
His Highness’ remarks came as he approved a new chapter in the development of the Dubai International Financial Centre (DIFC) with the launch of DIFC 2.0. The centre’s phased growth plan will triple the scale of the leading financial hub in the Middle East, Africa and South Asia (Measa) region and enable DIFC to drive the future of finance.
Sheikh Mohammed highligh-ted the role of DIFC in supporting the Eight Principles of Dubai set by His Highness, mainly the one related to the emirate’s position as a business capital and a hub for international investment. “The financial sector remains one of the cornerstones of our economy,†His Highness said.
“We are keen that the development of infrastructure is matched by the development of legislation by continuously reviewing it to ensure it is among the best in the world and that it can facilitate the best environment for supporting greater excellence and achievement,†HH added.
Sheikh Mohammed also praised the achievements of DIFC that helped Dubai become one of the leading financial centres in the world.