Dubai Crown Prince Launches 26 Projects during Initiative ‘Dubai 10 X’

Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum. (Getty Images)
Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum. (Getty Images)
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Dubai Crown Prince Launches 26 Projects during Initiative ‘Dubai 10 X’

Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum. (Getty Images)
Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum. (Getty Images)

Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum has launched 26 projects to be undertaken by 24 Dubai Government entities under the “Dubai 10X” initiative.

The Crown Prince said on Monday that the success of governments is determined by their ability and flexibility to re-invent themselves and upgrade their services to cater to the evolving needs of the community.

Government entities should use their resources and capabilities to meet the requirements of the community, he said.

“The UAE offers the world a practical model for developing innovative government service solutions and reorient operational systems and frameworks to enhance the happiness levels and improve the quality of life of the public,” he added.

Sheikh Hamdan further said: “We are proud of this innovative model which reflects the creative potential of our nation, and reiterates the UAE leadership’s commitment to invest resources in developing path-breaking government services that can enhance the lives of individuals and ensure a bright future for upcoming generations.”

“We are ushering in a new phase of development for government services by transforming a whole host of innovative ideas into reality. The projects we have launched will transform government operations and enhance their flexibility to adapt to changes and future needs in an accelerated time frame of 24 months.”

The Dubai X 10 initiative aims at enabling the government of Dubai to keep ahead the world in all sectors and to make Dubai the city of the future through today's application of what the cities of the world will implement in 10 years.

The adoption of these projects follows the establishment of a specialized committee of international experts and specialists in the study and review of over 160 ideas, which were received from 36 parties in under 365 day.

At least 26 projects submitted by 24 government agencies in Dubai will be put into effect and are concerned with reformulating the functions and roles of government agencies and bodies, enhancing their role in the service of society.



Saudi Arabia Eyes Asian Investments via Shenzhen, Shanghai

Group photo of the listing (Asharq Al-Awsat)
Group photo of the listing (Asharq Al-Awsat)
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Saudi Arabia Eyes Asian Investments via Shenzhen, Shanghai

Group photo of the listing (Asharq Al-Awsat)
Group photo of the listing (Asharq Al-Awsat)

The Saudi financial market has undergone a significant transformation since the launch of Saudi Vision 2030.
The initiatives, programs, and regulatory reforms associated with Vision 2030 have encouraged international investors, index providers, and financial institutions to join the Saudi market.
The Public Investment Fund (PIF) has worked to achieve the objectives of Saudi Vision 2030 by implementing mechanisms that enhance the pace of attracting foreign investments to the Kingdom.
This includes stimulating international investors, particularly Asian investors, to invest in the Saudi financial market. One notable development is the listing of the first batch of exchange-traded funds (ETFs) in the Saudi market, such as the Saudi China Southern CSOP Fund and the Saudi Huatai-PineBridge CSOP Fund on the Shenzhen and Shanghai stock exchanges in China.
During the announcement of the listing on the Shenzhen Stock Exchange, PIF Governor Al-Rumayyan Yasir stressed that these listings are an important step toward enhancing communication among the financial markets of Saudi Arabia and China.
They will provide Asian investors with the opportunity to access the Saudi financial market and observe its sustainable growth driven by the Kingdom's economic transformation.
These two new funds are part of the first batch of ETFs in China capable of investing in the Saudi financial market.
They rely on the model known as listed ETFs, which allow investors to track the FTSE Saudi Arabia Index and invest in the largest market in the Middle East.
This enables investors to gain greater access to one of the fastest-growing and most strategic markets in the world and observe the performance of 56 leading large and medium-cap companies listed on the Saudi stock exchange (Tadawul).
The new listing comes as part of the efforts initiated by the PIF to enhance investment flows into the Saudi Arabian capital market.
During the announcement of the listing process on the Shenzhen Stock Exchange, Al-Rumayyan emphasized that the listing operations are an important step toward enhancing communication between the financial markets in Saudi Arabia and China.
He added that these operations will provide Asian investors with the opportunity to access the Saudi Arabian capital market and observe its sustainable growth driven by the economic transformation in the Kingdom.