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New Details

Dubai Chamber Of Digital Economy Lured Multinationals Worth $83bn Last Year.

Published on : 23-04-2024

Dubai Chamber Of Digital Economy Lured Multinationals Worth $83bn Last Year.

Dubai Chamber of Digital Economy entices multinationals with the promise of thriving digital business opportunities. The impressive figure depicts the growing appeal as a suitable location for investment and innovation technology companies.

Dubai Chamber of Digital Economy has announced that the combined market value of the nine MNCs successfully attracted to Dubai last year exceeds AED304bn, which is $82.84bn. The figure is quite impressive; it shows the emirate's growing appeal as a preferred investment hub for innovation technology companies and underlines the Chamber's commitment and dedication to strengthening Dubai's digital economy in line with the Dubai Economic Agenda D33 goals. The Chamber has attracted various specialized multinational digital businesses to the Emirates in 2023.

Dubai Chamber of Digital Economy

The company activities span various fields, including-

  • Cybersecurity
  • Mobility technology
  • Health and fitness technologies
  • New energy-based vehicles
  • Robotics
  • Autonomous systems
  • The automotive industry
  • Legal services
  • Cryptocurrencies

Underlining the favourable global opportunities available within Dubai's digital economy, the Chamber attracted three digital companies from Asia; three were from Europe, two from the USA, and the other from Latin America. Omar bin Sultan Al Olama, who is the Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and chairman of the Dubai Chamber of Digital Economy, informed that attracting these types of multinational companies is a success that is added to the city's accomplishments as the emirate continues to develop a comprehensive business ecosystem and improve growth, innovation, and creativity.

He also informed that these efforts consist of a vision of Sheikh Mohammed bin Rashid Al Maktoum, who is the Vice President, Prime Minister, and Ruler of Dubai, to enhance the emirate's leadership as a global capital of the digital economy and that Dubai's digital economy is continuing to grow in terms of investment attractiveness and the regional and international expansion of companies specializing in all technological fields.

Al Olama included that the Chamber of Digital Economy is working to enhance efforts and cooperation to achieve the targets of the city Economic Agenda D33 and amalgamate the digital business environment in the emirate through various strategic initiatives. It continues to enhance the advanced competitive advantages Dubai's digital economy enjoys, attracting more companies, investors, and entrepreneurs to the emirate and strengthening Dubai's leadership among the most attractive cities for digital investments and talents in digital sectors.

The Chamber has expanded its drive for accelerating the emirate's change into one of the world's leading digital economies aligned with the objectives of the DXB Economic Agenda. These consist of the Create Apps in Dubai initiative, which was launched last year by Sheikh Hamadan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, to equip 1000 Emirates with the expertise and skills required for building a successful career in mobile application development.

Led by the Chamber of Digital Economy, "Create Apps in Dubai" focuses on tripling the number of app developers by 2025 and supporting 100 new national projects to develop innovative applications available in digital app stores. As part of the initiative, the Chamber has launched the Emirati Training Academy and the "App Olympics" competition.

The Chamber of Digital Economy also hosted Expand North Star in October, the world's largest gathering of startups and investors. The four-day mega event attracted 33,060 participants from all over the globe. In October, the "Business in Dubai" platform was launched to provide practical support to businesses looking to launch or expand their activities in the Emirates. The Chamber signed 14 MOUs with the service partners, and the platform attracted 365 applications from companies wishing to benefit from the services available.

It provides a comprehensive package of institutional services and a business matchmaking service curated to connect companies with potential partners, investors, and their customers. The Chamber of Digital Economy also organized ten workshops in 2023 to discuss various topics and challenges that impact the digital industries, and two additional workshops were held to bring together key government entities to explore practical solutions. The Chamber also held 24 roadshows and business trips across the Middle East, Africa, Asia, and Europe to help attract international digital companies of various types and sizes to the city.

#dubai #dubaieconomy #uaenews #latestupdate2024 #digitaleconomy

News Source : Khaleej Times

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