The Dubai government had announced the launch of the program Dubai 10X. The initiative aims to transform the city into an innovation hub, which would make it approximately 10 years ahead of the rest of the world.
Measures are taken to encourage government entities to join hands with companies and start-ups possessing the potential of developing and implementing the latest disruptive technologies.
This article briefly answers following questions-
- What is Dubai 10X?
- What are the Objectives?
- Implementation of the Plan
- How Crucial Sectors Contributed?
Dubai 10X is a project which is focused and formed to transform Dubai. The project stands strong, with innovation as its strongest pillar.
The honorable Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, announced the Dubai 10X program. He vividly explain the symbolic significance of the numeric and consonant 10 and X, respectively. The number 10 represents years, and the alphabet X stands for encouraging thinking of out of the box perspective.
What are the Objectives?
- The strategy primarily revolves around enriching citizens' living standards by facilitating more productive and innovative government entities.
- The Dubai 10X initiative holds the potential of drastically impacting government entities. It would drive Dubai 10 years ahead in comparison to all sectors of other countries in the world.
- To achieve the goal of being ahead of the rest of the world, the IC Digital had tied a knot with the greatest and best forces belonging to the "disruptive" fields of Automation and Cyber Security.
The Dubai Government entity had divided the execution into various stages. On account of the first stage, the government had planned to set up an "X-Unit" dedicated and accountable for finding disrupting solutions for the informative research and development sector.
The selected efficient and effective solutions would immensely foster the formation of an optimized and developed-
- Organizational structures
- Hierarchical roles
As a result, organizations can expect a rise in productivity level.
Automation replaces the requirement and needs of human resources by organizations. It helps in the completion of tasks previously done by staff-hours. On the beneficiary part, it allows the firm to manage and utilize the workers in contributing to organizational goals more productively. Thus, it has made setting up a business in Dubai profitable.
Cyber Security services and solutions help ensure that a company contributes to a Smart future through innovation strategy.
The Dubai Future Foundation
The Promotion of healthy competition encouraged various government entities to come forward. An approximate of 26 projects were adopted, which were generated and presented by 24 government departments. Further, the shortlisted projects passed through the evaluation process conducted by a panel of experts.
It was astonishing to see active participation and response by various departments. More than 160 ideas were submitted by only 36 parties, in less than the tenure of 365 days.
The Dubai Future Foundation evaluated the Dubai 10X initiative and signed a partnership agreement with the Dubai Competitiveness Office. Their main aim was to prepare an annual report for the competitiveness of all the approved projects for the Dubai 10X strategy.
They analyze the projects and provide essential information to ensure the selected projects' proper execution and success. Thus, partnership with the Dubai Competitiveness Office acts as an aid to track the impact of projects. It also helps in measuring the progress and effectiveness of plans.
The reports are constructed on the various measuring parameters to assess the competitiveness level and its effectiveness. Mainly 11 domains are considered, to list a few-
- Government regulation
- Trade ecosystem
How Crucial Sectors Contributed?
The Transport Sectors
When we dig more profoundly about Dubai's crucial sectors, it comes to our notice that the transport sector plays a significant role. The transport sector contributes to economic growth and development by offering various services to different sets of customers. Thus, due to the promising success, the transport sector has become one of the most preferred fields for establishing a business in Dubai.
The Roads and Transport Authority (RTA) of Dubai announced its strategy or plan of "end-to-end vehicle lifecycle management using Blockchain" to contribute to the Dubai 10X Initiative.
Aim of the plan-
The objective of improving customer experience drives it. Blockchain technology has been adopted at all vehicles, i.e., starting from the manufacturer's stage to the scrap yard.
The project would take place as the first government platform to record the entire business network, which benefits both buyers and sellers to track the vehicle's lifecycle. Thus, it acts as a reliable source of vehicle history information.
It would noticeably embark on Dubai's journey of being a prominent hub of the UAE region's automotive industry. Both local and regional car markets, the car-manufacturing sector, in the broader consideration the industry can flourish with beneficiary impacts of this plan.
DED has contributed to the 10X initiative's achievement by launching the 'Dubai 3i' project. The project took hold of the power of immensely molding the intellectual innovative and prosperous industrial sector's regulatory framework.
It is a journey of transformation of the industry being labor-driven to technology-intensive. It would help the industry to overcome the traditional method and benefits from the latent potential of artificial intelligence (AI), big data, and 3D printing.
3i can be seen as a supporting pillar to those willing to incorporate a business in Dubai. Such as small and medium enterprises (SMEs), entrepreneurs, and exporters.
We can sum the article saying that innovation has become the magic wand for any development project's success and of various industries in the economy.
These projects pass through global competitiveness indicators such as-
- World Economic Forum's
- the World Bank's Doing Business Index,
- the Mercer Quality of Living Survey
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