The exponential growth of Dubai is not random and is due to adherence to a set of basic principles that make it a successful destination. Sheikh Mohammed Rashid Al Maktoum, ruler of Dubai and vice president of the United Arab Emirates (UAE), established a manifesto in which these “laws” serve as the roadmap to turn this place into a potential powerhouse.
This document outlines the 8 fundamental points for Dubai to establish itself as a prosperous society, with well-defined values that go beyond fostering wealth. Instead, they highlight the guiding principles that create a strong and well-established nation, ensuring the well-being of its inhabitants. This article will explore each point as the keys to the success of this radiant emirate.
Unity, respect, and business, one of Dubai’s pillars
Unity is one of Dubai’s main pillars. This city is part of a community and a project that goes beyond its particular interests and answers to the directives of the United Arab Emirates. For Sheikh Al Maktoum, integration and cooperation are also crucial values to consider. This also includes justice, as “no one is above the law,” meaning that laws are equal for everyone, regardless of their social class. A solid institutional order is one of the foundations of the emirate’s exponential growth.
Dubai is also considered a business hub, where authorities and investors must secure economic growth and benefits for its population. In this context, Dubai’s and the UAE’s neutral stance in any type of conflict is of vital importance and encourages the entry of individuals with good intentions into the territory. Situations of this nature could hinder the country’s objective in this regard and distract its focus.
The 3 reasons behind Dubai’s growth, according to the manifesto
Sheikh Mohammed Rashid Al Maktoum’s document outlines three key factors in the economic growth of the emirate. The first refers to a loyal and transparent government with clear objectives. The next point focuses on the work of the private sector, which is considered active, open, and fair. The third factor is the proliferation of growth-driven companies led by the government.
Regarding these aforementioned companies, it is necessary for them to compete globally, to present projects aligned with the emirate’s objectives, and to ensure quality employment for their members, in addition to accumulating economic assets for younger generations.
Talent and economic diversification, one of Dubai’s characteristics
Although the UAE is a site dedicated to oil, its authorities have never focused solely on this variable. In Dubai and the rest of the seven emirates, economic diversification is a fundamental pillar for growth. As noted in the manifesto, it is necessary to open “a new productive economic sector every three years”. The objective of becoming a solid, dynamic, and innovative society requires creating new opportunities beyond the known.
New talents and the brightest minds are always welcome in this emirate, so authorities must ensure the best conditions for people to settle here and develop professionally and academically. The workforce is scarce in this city, so legislation must attract young talents with work and residency visas, low taxes, infrastructure, connectivity, and quality of life.
