Dubai’s 4.6% GDP growth is a testimony to its economy’s sustainability and resilience: Hamdan bin Mohammed

Dubai’s 4.6% GDP growth is a testimony to its economy’s sustainability and resilience: Hamdan bin Mohammed

DUBAI - H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, announced that Dubai’s GDP grew 4.6% year-on-year to AED307.5 billion during the first nine months of 2022 compared with the same period last year.

H.H. Sheikh Hamdan bin Mohammed noted that Dubai’s exceptional GDP growth was the result of the efforts of various government and private entities to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai’s economy a global benchmark in sustainability and resilience. Sheikh Hamdan added that Dubai’s responsive and efficient economic framework, along with its ability to track and anticipate demand trends in both the short and long terms, ensure that it can swiftly leverage opportunities and continue its ambitious journey to excellence.

H.H. said: “Dubai’s economy is founded on strong principles of income diversification by developing strategic sectors, promoting future-focused economic activities, implementing prudent fiscal policies, and constantly upgrading regulatory and legal frameworks to encourage investment and support business. Our strong partnership with the private sector, both locally and internationally, is a key enabler for sustaining our growth with