Dubai: City of Gold

The article pertains to Dubai's strategy to strengthen the gold sector and transform the city into a global hub for gold manufacturing and trading. It highlights the institutional and regulatory developments that supported this goal, including the introduction of legislative standards, the establishment of bullion market committees, and the launch of the Dubai Gold Souk, which hosts over a thousand traders. Additionally, it points to Dubai’s strategic geographic position as a hub connecting supply sources in Africa and Asia with global demand markets. The article also mentions measures taken to improve the quality of supply, trading, and financing, all aimed at making Dubai an attractive global center for gold industry and trade. As a result, there has been significant growth in the value of external trade, surpassing one trillion AED with a 60% increase, alongside optimistic projections for future economic and financial performance.

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