Dubai approves new plan to attract more big name global digital firms
The Board ratified the 2022 budget for Dubai Chamber of Digital Economy and defines responsibilities for four newly formed committees.
· H.E. Omar Sultan Al Olama:
– New strategy cements Dubai’s position as a global leader in digital economy in line with the vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
– The Strategy aims to attract up to 300 digital startups in two years and proposes regulatory changes to support the digital economy.
– The digital economy is the economy of the future. Investing in it boosts Dubai’s competitiveness as a world-leading economic centre.
Dubai, UAE – The Board of Directors of Dubai Chamber of Digital Economy held its first meeting of 2022 recently, where members approved its strategy for the 2022-2024 period to enhance digital business infrastructure and support and attract global digital companies to Dubai.
The new strategy supports objectives outlined under the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, to promote Dubai as a global capital of digital economy.
The Board also ratified the 2022 budget for Dubai Chamber of Digital Economy and defined the responsibilities of four newly formed committees made up of Board members, namely, the Digital Economy Finance Action Committee; Digital Talent Action Committee; Network and Ecosystem Action Committee; and Government Coordination, Regulation, and Infrastructure Action Committee.
His Excellency Omar Sultan Al Olama, Chairman of Dubai Chamber of Digital Economy, led the meeting, which brought together board members H.E. Ahmad Abdullah bin Byat, H.E. Hamad Obaid Al Mansouri, Khaled Ahmed Al Tayer, Rashid Abdulla Al Ghurair, Fadi Ghandour, Mona Ataya, Hend Seddiqi, Rashid Mohammed Alabbar, Mansour Khalifa Sultan bin Habtoor, Ronaldo Mashhour, and Mudassir Sheikha, in addition to H.E. Hamad Buamim, President and CEO of Dubai Chambers.
“Approving the Chamber’s strategy and budget is part of our efforts to speed up the full implementation of the ambitious vision His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, has set, which strives to build the future of the digital economy today and cement Dubai’s position as a preferred market for foreign digital investments and top tech talent,” said H.E Omar Sultan Al Olama.
“The new Strategy lays the groundwork for a series of new initiatives and plans we have in the pipeline,” H.E. Sultan Al Olama explained, citing new plans to attract 300 digital startups to Dubai within two years; propose improvements and changes to laws and policies that would support the growth of the digital economy; organise an international conference on the new digital economy; promote digital transformation across national companies; and enhance the business environment to attract global digital firms.
“The digital economy is the economy of the future,” H.E. asserted. “Investing in it promotes economic growth and boosts Dubai’s competitiveness as one of the world’s leading economic centres. The forward-looking, future-driven vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum to advance the digital economy and firmly embed it into the emirate’s existing economic infrastructure is the mantra to be followed throughout the next stages of our sustainable development.”
H.E. Sultan Al Olama concluded by underlining the importance of maintaining a solid partnership between the public and private sectors in order to achieve the Strategy’s objectives. “The private sector is the most capable partner in our plans to turn our goals into a concrete, mutually beneficial reality,” H.E. explained, stressing that Dubai Chamber of Digital Economy is working closely with public and private sector stakeholders across various sectors to ensure the success of the new strategy.”
Last year, H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, approved the restructuring of Dubai Chambers into three Chambers: the Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy. The decision aims to enables The three chambers to adopt a specialised approach to better serving the business community, support traditional economic sectors, actively work to expand Dubai’s foreign trade, and protect the interests of regional and global companies based in the emirate. This is in addition to developing the new digital economy, creating new investment opportunities across digital economy sectors, and spearheading a comprehensive digital transformation.