Emirates Development Bank (EDB), in partnership with the Ministry of Industry and Advanced Technology, recently hosted EDB Connect – Dubai Edition, a forum dedicated to driving sustainable economic development in the UAE. The event brought together government officials, industry leaders, and representatives from the banking sector to discuss efforts and industry trends that impact the future of Dubai’s economy.
Under the theme Financing for Development: Enabling Dubai’s D33 Ambitions, the one-day event focused on fostering collaboration between government entities and private sector companies to support the UAE’s national economic growth and diversification goals. The discussions centered around the latest industry trends and opportunities for sustainable economic development in Dubai.
Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, highlighted the success of the strategic partnership between the ministry and EDB, noting the increased levels of technology adoption and industrial development in the Emirates. Last year, the industrial sector contributed over AED 180 billion to GDP, with industrial exports totaling AED 174 billion.
Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, emphasized the bank’s commitment to supporting Dubai Economic Agenda’s (D33) aim of positioning the emirate as one of the top three global cities in the world. He introduced EDB Connect as an ongoing series that engages with key players in the UAE’s economic diversification efforts, bringing together strategic partners to contribute to inclusive and sustainable economic development across the country.
The first edition of EDB Connect focused on addressing challenges and exploring strategic solutions for long-term sustainable transformation projects aligned with Dubai’s economic ambitions. By exchanging knowledge and fostering partnerships through platforms like EDB Connect, the bank aims to drive innovation in finance, empower SMEs, and contribute to the UAE’s sustainable development.
H.E. Al Suwaidi stressed the importance of the Make it in the Emirates initiative in accelerating Dubai Economic Agenda goals. He called for a proactive response from private sector companies to enable industrial growth and support the emirate’s economic vision. The initiative aims to attract local and international industrialists, innovators, and investors to benefit from the UAE’s competitive advantages and contribute to its industrial journey.
EDB’s CEO highlighted the key features of Dubai Economic Agenda, which includes 100 transformational projects. The agenda aims to double the size of Dubai’s economy to AED 32 trillion over the next decade and enhance its global trade connections. The event included three focused sessions on scaling up financing for sustainable development investments, the impact of public-private partnerships on economic growth, and the role of banks in catalyzing SME growth.
EDB Connect – Dubai Edition concluded with an appreciation award ceremony, where EDB recognized its strategic partners in Dubai for their contributions to the UAE’s sustainable development and Dubai’s D33 economic agenda.
Overall, EDB Connect – Dubai Edition provided a platform for dialogue and collaboration among key stakeholders, aiming to drive sustainable economic development in Dubai. The event highlighted the importance of partnerships between government entities and the private sector to achieve the country’s economic goals and position Dubai as a global business and investment hub. Through ongoing initiatives like EDB Connect, the UAE aims to foster innovation, attract investment, and ensure inclusive and sustainable economic growth.