DUBAI, 17 June 2013: The General Secretariat of the Executive Council of Dubai has signed a Memorandum of Understanding (MoU) with Dubai Technology and Media Free Zone Authority (DTMFZA) to create and develop "Dubai Fashion 2020". This strategic plan will support Dubai’s and the wider region’s design and fashion industry as it seeks to match the Emirate’s economic growth with a wider appreciation and understanding of culturally relevant fashion.
“Dubai Fashion 2020” is expected to support ongoing growth in the Emirate’s GDP and have a significant impact on employment across the value chain such as manufacturing, retail and design. It will also engage local designers in the creation of the world’s largest and most prestigious brands, as well as attracting investment from global institutions in this industry.
This strategic plan is closely aligned to the recently announced Dubai Design District, which will become a full-service community for design industry related organisations, brands, and supporting enterprises. In addition to contributing to Dubai’s economic diversification and growing knowledge economy, the two projects will positively contribute to Dubai’s credentials as a global hub in these sectors.
In addition to positioning Dubai as a genuine hub for the fashion and design industries that can compete on the global stage, the strategic plan aims to increase the role of contemporary regional fashion, Islamic fashion as well as identifying opportunities for marketing to the specific needs of the regional and global markets.
Moreover, “Dubai Fashion 2020” seeks to promote the development of this important sector over the coming years. It will focus on providing all the necessary support that is conducive to building a productive working environment for business, UAE Nationals, and entrepreneurs in order to promote an Emirati culture that is on a level with those in other parts of the world.
”Dubai Fashion 2020” also aims to offer development and training programs, and support with the hosting of various fashion events, as well as attracting specialized enterprises in fashion from around the world to Dubai. These efforts will focus on supporting the "Dubai tourism vision 2020" by increasing the volume, spending, and duration of stay by visitors to the Emirate.
Commenting on the MOU, HE Abdulla Al Shaibani, Secretary General, The Executive Council of Dubai, said: "The General Secretariat of the Executive Council is keen to support all strategic sectors in the Emirate and provide an appropriate environment for creativity and innovation. The memorandum we are signing today with DTMFZA aims to develop economic opportunities and enhance Dubai’s global competitiveness on several levels, as well as to “Dubai Design District", which was recently launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President, Prime Minister and ruler of Dubai supporting the Emirate's vision to be a global leader. We will work in the coming period on developing a strategic plan that supports the objectives of the fashion industry and promotes the Emirate’s position.”
Ahmad Bin Byat, Director General, of DTMFZA, added: “Experts estimate that the global fashion industry generates over a trillion dollars a year. With the growing demand for brands and luxury goods across the region as well as the success achieved by local designers internationally, we believe that Dubai is well positioned to enhance its role in the global fashion industry. Dubai Fashion 2020 will allow us to unlock the Emirate’s full potential. While it focuses on developing a destination for the top international players in the industry, it also includes putting a particular emphasis on nurturing local talent, entrepreneurs and small businesses. The recent launch of the Dubai Design District will act as a corner stone in the implementation of this strategy. Working together with the Executive Council and the industry, we are confident of achieving the ambitions set out in the Emirate’s Tourism Vision 2020.”