Dubai has budgeted for increased infrastructure spending in 2014, in anticipation of winning the right to host the World Expo 2020. The winner is due to be announced on 27 November.
The emirates 2014 budget was approved this week by its ruler, Sheikh Mohammed bin Rashid al-Maktoum, with an 11 per cent increase earmarked in public spending.
Dubai plans to launch new projects in the coming period to support Expo 2020, which will make the emirate even more attractive to investments, the budget announcement by the official Emirates News Agency (Wam) said.
Dubai has begun the preparation for the expansion of infrastructure schemes through increased allocations within the budget of fiscal year 2014 to AED6.35bn ($1.72bn) an increase of 13 per cent from 2013. It plans to maintain the size of its investments in infrastructure through the next five years.
The Dubai Expo bid committee estimates that 25 million people will attend the expo in Dubai if the emirate wins its bid. Hosting the event will require major investment in accommodation and transport infrastructure.
Destination Dubai 2020
On 28-29 January 2014, MEED will hold its Destination Dubai 2020 event. The two-day conference will bring together the emirates key government-related entities and stakeholders to discuss their respective growth plans and outline Dubais ongoing expansion to 2020 and beyond. For the very latest information regarding this event, please visit www.destinationdubai2020.com