Mohammad Bin Rashid approves DIFC’s new expansion plan

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said that Dubai is working towards cementing its position as a pivotal economic and commercial hub for the region in line with the Fifty-Year Charter recently announced by His Highness that aims to ensure Dubai’s sustained prosperity and accelerate the development journey of the emirate, the UAE and the region.

“The financial sector remains one of the cornerstones of our economy. We are keen that the development of infrastructure is matched by the development of legislation by continuously reviewing it to ensure it is among the best in the world and that it can facilitate the best environment for supporting greater excellence and achievement,” he said.

He said that developing the financial sector is a priority that supports the economic future of Dubai, and further enhances investor confidence.

“The next phase requires the introduction of the latest technologies that can support the growth of various business sectors. We are not only trying to meet the requirements of the present time but also be a major contributor to shaping the future of the world’s economy and positively influence greater well-being for the world. We are confident that Emiratis will be successful in achieving this strategic objective,” he said.

Shaikh Mohammad’s remarks came as he approved the recently launched DIFC 2.0, will triple the scale of the financial centre.

DIFC governor Eisa Kazim briefed Shaikh Mohammad about the new expansion which will add a total of 13 million square feet to the centre’s integrated ecosystem. The new development will act as a focal point for fintech and innovation.