3 main pillars include “improving the business environment”, “developing support” and “promoting the attraction of digital companies”

Dubai adopts a roadmap for a strategy to develop the digital economy

Dubai Digital Economy Retreat concluded its activities in Dubai yesterday.

From the source

The Dubai Chamber of Digital Economy has adopted a roadmap consisting of three pillars, which will be the focus of the strategy that will be launched by the Chamber to enhance Dubai's position as the global capital of the digital economy, at the conclusion of the Dubai Digital Economy Retreat, which was held at the Ritz-Carlton Hotel in the Dubai International Financial Center.

During the retreat, which was held in implementation of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to strengthen Dubai's position as a global destination for digital companies, and its work lasted for two days, the participants ranked the recommendations among three main pillars that will form the core of the "Dubai Strategy". of the digital economy”, namely: improving the digital business environment, developing support for digital companies, and external promotion to attract digital companies.

More than 100 participants representing members of the Chamber's advisory board and representatives of digital private sector companies participated in the retreat organized by the Dubai Chamber of Digital Economy.

Action Plan

Omar Sultan Al Olama, Chairman of the Dubai Chamber of Digital Economy, stressed that developing the digital economy system is a priority for the next stage, and that the action plan that was adopted focused on attracting digital companies to establish their headquarters in the emirate, attracting best digital practices and rewarding economic partnerships, in addition to working to improve Promoting the business environment and training opportunities, enabling the business environment by creating a new added value for the emirate's market, and supporting the interests of digital companies.

He pointed out that the strategic plan that is being developed based on the recommendations of the retreat, will contribute to consolidating Dubai's position as a global capital of the digital economy, because it will provide new jobs, increase economic investment opportunities, and contribute to the economic growth of the emirate, in addition to enhancing Dubai's competitiveness, as a destination for digital companies.

In his speech to the participants, he added that the retreat succeeded in shedding light on the most prominent challenges facing digital companies in Dubai, through brainstorming sessions that dealt with a range of innovative ideas and qualitative and distinguished projects that would contribute to attracting more digital companies to the emirate, and enhance A stimulating business environment that ensures ease of doing business.

Al Olama considered that the partnership between the public and private sectors is an important factor in setting a roadmap for developing and strengthening the digital economy, considering the private sector an essential and indispensable strategic partner in developing and implementing plans to enhance the competitiveness of the digital economy that leads the global economic recovery.

He continued: "The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum are the basis for our efforts to consolidate the role and contribution of the digital economy in the plans of the future industry and the development process for the next fifty years.

The recommendations will be studied in preparation for the development of the strategy that will be the basis for establishing our position and reputation as a global capital of the digital economy, a center for talented and innovators in digital technologies, and an incubator for global success stories of digital companies.”

He stressed that the digital transformation in Dubai has become a tangible reality in all areas of work and life, and a fundamental pillar of strengthening the emirate's position as the global capital of the digital economy.

Challenges and solutions

In turn, the Director General of the "Dubai Chamber", Hamad Mubarak Buamim, said that the retreat addressed challenges related to talent, financing, infrastructure and legislation. Its position as the capital of the digital economy.

Buamim explained that the challenges presented by the private sector during the retreat were transparent and clear, and innovative solutions were proposed to overcome them, considering that attracting and maintaining the best digital skills, providing the best digital infrastructure, attracting investors, providing financing opportunities for startups, and supporting policies and legislation that stimulate the digital economy, She was the focus of the discussions in the retreat, noting the role of the private sector in finding solutions, in cooperation with the government sector, to the challenges facing the business community and transforming them into opportunities.

The contribution of the digital economy

The digital economy, according to the latest statistics, contributes to about 4.3% of the gross domestic product in the UAE, which is equivalent to 100 billion dirhams.

There are more than 1,400 startups in the country, where 1.5 billion dirhams are allocated to startups, 90 investment funds in the digital sector, and 12 business incubators, while the total value of startups in the country is estimated at 90 billion dirhams.

The strategic plan contributes to consolidating Dubai's position as the global capital of the digital economy.

Discussions focused on attracting the best digital skills, attracting investors, and providing financing opportunities for companies.

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