According to Sheikh Hamdan bin Mohammed, Dubai is gradually strengthening its position as a leading hub for advanced technology and a significant center for digital business models and transformative initiatives.
The Crown Prince of Dubai and head of the Executive Council stated this during the second gathering of the Higher Committee for Future Technology and Digital Economy, as reported by the Dubai Media Office.
He emphasized that Dubai is actively devising strategies to hasten digital expansion and incorporate novel technologies through collaborative alliances among government bodies, global corporations, and the wider private sector.
Dubai aims to solidify its position as a global hub for the digital economy, as per recent reports by the Dubai Chamber of Digital Economy.
The country’s digital economy is predicted to grow beyond $140 billion in 2031, compared to its current value of around $38 billion.
To this end, the Higher Committee for Government Digital Transformation was established by the UAE Cabinet in 2022, while the Higher Committee for Future Technology and Digital Economy was formed by Dubai to specifically focus on developing the sector.
The latter committee, comprising eight members, is tasked with overseeing strategies related to Dubai’s digital economy and future technology, with the goal of elevating Dubai’s dominance in the global digital economy.
At the committee’s recent meeting, which was also attended by Omar Al Olama, Minister of State for Digital Economy, AI and Remote Working System, discussions were held on investing in the metaverse and creating partnerships to bolster Dubai’s digital economy, among other topics.
The meeting was attended by various other committee members, such as the director general of Dubai’s Department of Economy and Tourism, the director general of the Dubai Digital Authority, the chief executive of the Dubai Future Foundation, the vice chairman of the Dubai Chamber of Digital Economy, the director general of the Dubai Development Authority and the chairman of Tecom Group, and the chief executive of the Dubai International Financial Centre.
During the meeting, they evaluated recent progress in the digital realm and discussed ways to achieve the objectives of the Dubai Metaverse Strategy and the Dubai Economic Agenda D33, which aim to create jobs, boost the economy, and establish Dubai among the top three global cities.
They also deliberated on improving Dubai’s digital infrastructure and readiness, utilizing its high internet usage rates for the benefit of the digital economy, and plans and recommendations to achieve the goals of Dubai’s digital economy.
The committee is tasked with creating policies, examining trends, and attracting international companies and conferences specializing in future technology and the digital economy, including emerging technologies like the metaverse, AI, blockchain, Web3, virtual reality, augmented reality, the Internet of Things, data centers, and cloud computing in Dubai.
Dubai is steadfast in its efforts to become a leading center for advanced technology and digital business models. The city’s commitment to digital expansion and adoption of novel technologies through partnerships with government bodies, global corporations, and the wider private sector is yielding positive results.