Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council has launched the "Dubai Global" initiative that aims to set up an integrated network that includes 50 commercial promotion offices for Dubai worldwide, over the next few years.

The network will operate as part of Dubai Chambers and in partnership with a large group of government and semi-governmental agencies in the emirate

Besides attracting global investments, the initiative is expected to consolidate Dubai's position among the best business centers in the world as well as benefit local companies with advanced infrastructure and logistical capabilities.

"The Dubai Global initiative aims to attract investments, skills and companies, in addition to supporting Dubai-based companies in exploring new economic and commercial opportunities in 30 new markets around the world," Sheikh Hamdan tweeted.

According to the crown prince, Dubai's share of global freight traffic is at 11 percent.

“Dubai invests tens of billions in expanding its shipping and air lines with more than 400 cities around the world, and we are the most rapidly growing, diversified city,” said Sheikh Hamdan on Twitter.

(Writing by Seban Scaria; editing by Anoop Menon)