Romain Gerardin-Fresse talks about economic policy in UAE
Romain Gerardin-Fresse, the renowned lawyer who heads up the Gfk Strategies consortium, which includes Gfk Middle-East, has chosen the UAE as the location for his group’s five-year plan.
On the sidelines of an international event held in Dubai, he spoke to the local press about his enthusiasm for the United Arab Emirates, where he has residing since 2021, and about his vision of the government’s economic policy.
“It should be recalled that the Vice President, Prime Minister of the United Arab Emirates and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has defined the key objective of the Dubai Economic Agenda (D33). The aim is to double the size of Dubai’s economy over the next decade and consolidate its position as one of the world’s top three cities. Dubai’s D33 economic agenda includes 100 transformation projects.
The first set of transformation projects for the next decade includes doubling the size of Dubai’s foreign trade by adding 400 cities to the foreign trade map, launching Dubai’s plan for green and sustainable manufacturing, launching Dubai 2033’s future economic corridors with Africa, Latin America and South East Asia, the launch of an expansion program for 30 companies to become global unicorns in new economic sectors, the integration of 65,000 young Emiratis into the labor market, the launch of the Dubai Traders project to empower the new generation of traders in key sectors, the launch of the Dubai Unified License as a single business identity for all Dubai companies, the launch of “Sandbox Dubai” to enable the testing and commercialization of new technologies and make Dubai a major center for innovation, the launch of a program to attract the best universities in the world, making Dubai a global pioneer center for higher education, as well as developing a small and medium enterprise expansion program by identifying 400 high-potential businesses, supporting their capacity building and helping them to expand globally. ” Romain Gerardin-Fresse said.
The lawyer also points out Dubai’s central role in international trade:
“Established in 2004, the Dubai International Financial Center serves as the global financial hub for the Middle East, Africa and South Asia (MEASA) markets. It provides companies with a platform to access these emerging markets, which collectively represent a GDP of USD 7.7 trillion. At the same time, JAFZA, inaugurated in 1985, has become one of the largest free trade zones in the world, serving a variety of sectors, from logistics to consumer goods and heavy industry.
The D33 program will enable foreign trade to increase from AED 14.2 trillion over the last decade to AED 25.6 trillion in goods and services over the next decade, and FDI to increase from an average of AED 32 billion a year over the last decade to an average of AED 60 billion a year over the next decade, reaching a total of AED 650 billion by 2033.
At the same time, it will allow public spending to increase from AED 512 billion over the last decade to AED 700 billion over the next decade, and private sector investment to rise from AED 790 billion over the last decade to AED 1 trillion over the next decade.
The result will include an increase in the value of domestic demand for goods and services from AED 2.2 trillion over the last decade to AED 3 trillion over the next decade and generate an annual contribution of AED 100 billion from digital transformation projects.”
Romain Gerardin-Fresse also points out that “the United Arab Emirates remains one of the most politically stable and secure countries in the region, which makes it considerably more attractive economically.”
The geopolitical parameter is closely scrutinized by Romain Gerardin-Fresse, who has made Gfk, and in particular GFK Middle-East, a player in the vertical and horizontal concentration of consultancy.
“There are few countries that offer such an attractive environment and such a high level of service. I am particularly proud and pleased that we are able to benefit from the solid policy put in place by the UAE and that more and more of our customers are considering setting up there. It’s our role to introduce them to the many advantages offered by such a market place.”
Romain Gerardin-Fresse, who will be launching SPARROW & Associates Legal Consultancy in Ras-El-Khaimah in November, will be honoured at the Emirates Finest Business Awards on 30 November, an event that recognises excellence without distinction between expat or local communities.
