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Mohammed bin Rashid launches the strategy of "Dubai, the capital of the creative economy of the world"

• Mohammed bin Rashid during the launch of the Dubai Creative Economy Strategy.

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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, yesterday launched the Dubai Creative Economy Strategy, which aims to double the contribution of the creative sector to the GDP of the Emirate of Dubai from 2.6% at the end of 2020 to 5% by 2025. .

The innovative strategy includes creating the legislative and investment environment necessary for the growth and prosperity of the creative sector in Dubai, increasing the emirate's attractiveness for innovators, investors and entrepreneurs, as well as for local, regional and global investments in the creative sector, which contribute to transforming Dubai into a global capital for the creative economy, as a translation of the forward-looking vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, and in implementation of the Dubai Plan 2021, which aspires to elevate the leadership position of the Emirate of Dubai as a global center in various fields, including economy, finance and business, noting that the Dubai Plan 2021 looks at the future of the emirate through a comprehensive perspective to ensure the creation of a society of happiness and the achievement of aspirations and aspirations Citizens and residents.

The concept of the creative economy covers wide and varied fields, including the publishing and book industry, audiovisual and print media, through cinema, music, and video, as well as art and cultural artifacts, cultural heritage museums, historical sites, archives and major cultural events, libraries, as well as the software industry. , Video games, and design of all kinds, whether it is related to fashion or designing games, programs, or building design, etc., as all of these fields need the creative ideas that the talented minds store.

Capital of the creative economy

His Highness Sheikh Mohammed bin Rashid Al Maktoum said in tweets on his Twitter account: “(Dubai is the capital of the creative economy) in the world ... a strategic program that we launched today to double the number of creative companies in the fields of content, design and culture from 8,000 companies to 15,000. A company within five years, and the number of creators from 70 thousand in Dubai currently to 140 thousand ».

His Highness added: “Today we launched the Dubai Creative Economy Strategy with the aim of transforming the emirate into a favorite destination for creators from all over the world, and the capital of the creative economy by 2025, in order to achieve our vision for a future economy based on knowledge and innovation.”

His Highness affirmed that Dubai’s renaissance was based on creative and bold ideas, adding: “We always welcome innovators from all over the world, and we seek to provide a suitable environment for them to transform their dreams, ambitions and creativity into an added value and a sustainable economic resource.”

His Highness added: "The UAE is a global economic capital, and creativity is part of our economy, part of our quality of life, and a major engine for the future of our country."

His Highness said that the Dubai Creative Economy Strategy constitutes an integrated initiative to support this sector and the creative community from all sides, in order to ensure the development and prosperity of the creative sector by providing a supportive legislative, investment and technical environment, through packages of advanced creative incentives and incubators that keep pace with rapid technological developments, and harness them to enrich The creative sector, and enhancing its ability to exist and compete in the local, regional and global markets.

Support and partnership

The Dubai Creative Economy Strategy is being implemented under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, President of the Dubai Culture and Arts Authority, and the implementation of the strategy is supervised by the Dubai Culture and Arts Authority in cooperation with a number of strategic partners, most notably: the Dubai Roads and Transport Authority, the Dubai Municipality and the Dubai Economy And «wasl properties» to achieve one goal is to create a new movement in the creative economy sector in the Emirate of Dubai.

Stimulating climate

The Dubai Creative Economy Strategy focuses on providing an appropriate and stimulating environment for creative people to create added economic value for their creativity, by merging creativity with capital looking for investment opportunities with distinctive returns, thus enhancing Dubai's position as a global destination for culture and creativity, and its role is a pioneering engine for the creative economy in the world. It also stimulates the growth of the creative economy sector to become a powerful tributary of the various future economic system of the Emirate of Dubai, which is based on knowledge, innovation and creativity.

Strategic goals

The main objectives of Dubai's strategy for the creative economy include increasing the revenues generated by the creative sector and doubling the percentage of its contribution to the emirate’s gross product from 2.6% currently to 5% after five years.

The goals also include doubling the number of creative and cultural companies and institutions operating in the creative sector from 8,300 currently, to 15,000 companies and institutions by 2025, which in turn will double the number of jobs provided by the creative sector from 70,000 jobs currently to 140,000 jobs in the coming period.

The Dubai Creative Economy Strategy is based on axes that form the main structure of the work system that guarantee the achievement of higher goals and objectives, based on the growing importance of the role of creative outputs as an important part of the economic system, as well as its role in enhancing social cohesion and cohesion of society by highlighting the unique national identity of the state, and benefiting from The state of richness and cultural diversity of the Emirati community, which includes creative people from all over the world.

These axes include the launch of an integrated area for creative people in Dubai that provides all the needs for the development of a creative sector in the emirate, and enables its workers to compete globally at all levels.

In addition to the launch of the Creative Economy Classification and Measurement Framework, which is a dynamic system that enables Dubai to define its creative "pulse", by creating a new measurement tool for the size and impact of the creative economy, which exceeds its contribution to GDP.

Unprecedented mutations

Globally, the creative economy is achieving unprecedented booms, with revenues reaching $ 2.25 trillion, with a contribution of 10% of global gross product, in addition to creating 30 million jobs, which reflects the huge potential of this promising sector and the importance of benefiting from its continuous growth.

International organizations define the creative economy as “an economic concept that develops on the basis of creative assets that have the potential to generate economic growth and development.” Therefore, basically, the concept of creative economy places ideas, human knowledge and creativity as major assets in driving economic growth.

Mohamed Ben Rached:

• “The UAE is a global economic capital, and creativity is part of our economy and our quality of life.”

• “Our goal is to turn Dubai into a favorite destination for innovators and creative capital from all over the world.”

• “The Dubai Creative Economy Strategy aims to transform the emirate into the capital of the creative economy by 2025.”

• "Dubai's renaissance was based on bold creative ideas, and we seek to provide the climate to transform creativity into an added value and a sustainable economic resource."

An early awareness of the importance of creativity

Dubai realized, long ago, the importance of the creative economy and its positive effects on the overall economic system, as the emirate succeeded in formulating a new concept for creative entrepreneurship in the world, as it invested in establishing creative clusters and attracted a large number of companies that include thousands of creative people from all countries of the world This resulted in an increase in the sector’s contribution to the gross domestic product, and the emergence of the huge and promising potential of this sector, ensuring it has a pivotal role in serving the sustainable development goals.

Dubai began the process of the creative economy decades ago, with the establishment of huge and sophisticated creative complexes in various sectors, such as Dubai Internet City, Dubai Media City, Dubai Production City, Dubai Studio City and Dubai Design District, which made the contribution of the creative economy to the total output of Dubai reached About 2.6%, while this percentage does not exceed 1.1% in the Middle East and Africa region.

• The strategy is being implemented under the auspices of Latifa bint Mohammed bin Rashid.

• The innovative strategy includes creating the legislative and investment environment necessary for the growth and prosperity of the creative sector in Dubai.

• Launching an integrated area for creative people in Dubai that provides all the needs for the development of a creative economic sector in the emirate.

• "Launching the creative economy classification framework by creating a new measurement tool for the size and impact of the creative economy that exceeds its contribution to GDP."

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