The Dubai Digital Economy Retreat concluded with the adoption of a new action plan to develop the emirate’s digital economy strategy.
The Dubai Chamber of Digital Economy hosted the two-day forum, which led to various practical proposals to address the market’s current difficulties.
The retreat supports the vice president and prime minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum’s vision of positioning Dubai as a worldwide digital economy capital.
According to the reports, “Interactive workshops during the event identified key market issues and challenges, including the need to attract more digital companies and specialized talent to Dubai, high costs for companies operating in this sector, encouraging more digital startups and enhancing investments in growing these businesses, widening acceptance of eCommerce payments and removing barriers of entry and enhancing the quality of services operating in this space.”
The three pillars of the action plan are to improve the digital business environment, promote the development of digital enterprises and bring leading digital companies to Dubai. Further, understanding the existing and future infrastructure needs of the digital economy, enabling access to capital, as well as managing partnerships and networks with digital-related entities abroad are all highlighted in the strategy.
Hamad Buamim President & CEO Dubai Chamber
“The retreat complements Dubai Chamber’s efforts to facilitate and streamline public-private sector cooperation, support and protect the interests of its members and meet the changing needs of Dubai’s fast-growing business community as it adapts to a new reality in the COVID-era and beyond. Further, the retreat is an ideal platform for open and constructive dialogue that is crucial in paving the way for major initiatives that will accelerate the next phase of Dubai’s economic growth and development.”
Mr. Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Teleworking Applications and Chairman of the Dubai Chamber of Digital Economy commented that the newly revealed action plan lays the framework for strengthening Dubai’s digital economy strategy and ecosystem, as well as creating new jobs and growth prospects.
“The retreat achieved its objectives of involving private sector stakeholders in key discussions with their public sector counterparts that will shape Dubai’s future vision and enhance the emirate’s economic competitiveness in the long term,” Mr. Al Olama added.
