D33: Tax experts expect more HNWIs to invest in Dubai

Tax experts on Thursday welcomed the Dubai Economic Agenda announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and said it will help attract more high net worth individuals (HNWIs) to explore investment opportunities in the emirate.

Mahar Afzal, managing partner at Kress Cooper Management Consultants, termed the Dubai Economic Agenda a great vision of a revolutionary leader.

Mahar Afzal, managing partner at Kress Cooper Management Consultants, termed the Dubai Economic Agenda a great vision of a revolutionary leader who is aiming to provide the best possible investment opportunities for investors.

“Sheikh Mohammed is creating a world-class infrastructure to facilitate the residents’ high living standards and businessmen’s maximum returns. These strategic steps will take the country to the next level of prosperity,” Afzal told Khaleej Times.

On Wednesday, Sheikh Mohammed announced a new economic agenda aims to double the size of the emirate’s economy over the next 10 years. The Dubai Economic Agenda ‘D33’ specifies combined economic targets of Dh32 trillion by 2033 that will help the emirate to consolidate its position among the top three global economic cities.

Pankaj S. Jain, managing director of AskPankaj Tax Advisors, said D33 initiative will establish Dubai amongst the leaders in this ever-evolving global economy.

Pankaj S. Jain, managing director of AskPankaj Tax Advisors, said D33 initiative will establish Dubai amongst the leaders in this ever-evolving global economy.

“Dubai has already established itself as the leading tourism and aviation hub. The focus on digital, space and finance sectors are inspiring. With taxation and economic partnership agreements (Cepa) with countries in place, the non-oil economy of the emirates is certain to grow,” Jain told Khaleej Times on Thursday.

He said D33 vision will make sure that Dubai is future ready and remain the most conducive place for the future generations.

Hatem El Safty, CEO of Business Link, said this bold vision showcases the leadership and innovation that has propelled Dubai to become a global hub for business and tourism.

Hatem El Safty, CEO of Business Link, said this bold vision showcases the leadership and innovation that has propelled Dubai to become a global hub for business and tourism.

“I am thrilled to see the ambitious goal set by the government of Dubai to double the size of the economy in the next decade. As a businessman myself, I am confident that with the strong foundation and drive for success already in place, Dubai has the potential to achieve this ambitious target and reach new heights of economic growth and prosperity,” he said.