Dubai aims to double number of digital companies

One of the three chambers under the recently restructured Dubai Chambers, it held its first meeting on Monday.

Chaired by Omar bin Sultan Al Olama, the meeting adopted a new roadmap with the aim of accelerating the growth of Dubai’s digital economy including the doubling of the number of digital companies.

“This roadmap will elevate Dubai’s position as a global leader in digital economy, and attract specialised talent, leading companies and new investments to the market. Homegrown success stories such as Careem and Souq have boosted Dubai’s appeal as a hub for e-commerce and digital economy, and we hope to raise the bar even higher by attracting other global players that can support the emirate’s digital economy ambitions and innovation ecosystem,” said Al Olama.

Al Olama (pictured below) also said that the board will work towards achieving other key objectives, such as fostering best practices and partnerships, organising roadshows, lobbying and policy advocacy, market creation, self-regulation, training and business promotion.

It will also review and approve new initiatives and programmes designed to support Dubai’s digital economy objectives, provide feedback on legislation and regulatory changes and identify market challenges and opportunities.

During the meeting, Ahmad Abdullah bin Byat was named vice chair of the board of Dubai Chamber of Digital Economy.

In line with the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the new structure for Dubai Chamber comprises three chambers – Dubai Chamber of Commerce, Dubai Chamber of International Trade and Dubai Chamber of Digital Economy.

The shake-up is aimed at supporting international trade and the digital economy and a five-year plan to increase Dubai’s foreign trade from AED1.4 trillion to AED2 trillion over the next five years.