Dubai: Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, has inaugurated the Dubai Centre for Family Businesses in line with the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to develop an integrated system to support the growth of family businesses.
Operating under the umbrella of Dubai Chambers, the Centre will work to foster the development of the family business sector and enhance its economic contribution, which, in turn, will support the emirate’s strategic future plans. The new entity will further launch initiatives to enhance the sustainability and growth prospects of family businesses in Dubai.
Ensuring the growth and sustainability of family businesses is a strategic priority and a core part of the vision of Sheikh Mohammed bin Rashid Al Maktoum. Family businesses represent a key pillar of the sustainable development process and a cornerstone of the future economy. The inauguration of the Dubai Centre for Family Businesses aims to strengthen the economic system that the emirate provides to support family businesses, develop the business community, establish confidence in the business environment, and enhance the sector’s ability to keep pace with global developments to ensure sustainable economic growth.
Mr. Maktoum bin Mohammed shared.
The Minister further underlined the historical role family businesses have played in shaping Dubai’s unique economic model, noting that they will play a major role in realising the goals of the Dubai Economic Agenda D33, which aims to increase private sector investment in development projects to AED1 trillion by 2033.
The inauguration of the Centre is part of a comprehensive plan approved by Sheikh Mohammed bin Rashid at the Dubai Council’s fifth meeting in May 2022 to enhance systems and processes that ensure the sustainability of family businesses over the next 100 years.
The meeting was attended by Mr. Abdul-Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, Mr. Essa Kazim, Governor of Dubai International Financial Centre, Mr. Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, and Mr. Arif Amiri, Chief Executive Officer of Dubai International Financial Centre, and members of the Board of Directors of Dubai Chambers.