The founders of Souq.com, Careem and Aramex and other leading business figures have been appointed to the newly-created Dubai Chamber of Digital Economy to position the emirate as a global technology hub.
The board will be chaired by the UAE's Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, Omar Al Olama, according to a statement by the chamber.
“We aim to position Dubai as a major hub for designing the future of the digital economy,” UAE Vice President and Ruler of Dubai Sheikh Mohammed Bin Rashid, said. "Our efforts in the coming phase will be dedicated to developing new high-tech tools and leading successful experiences in the digital sector."
On Saturday, Sheikh Mohammed approved a restructuring of Dubai Chamber that creates three separate entities – Dubai Chamber of Commerce, Dubai Chamber of Digital Economy and Dubai International Chamber. He also approved the personnel for a board of directors for Dubai Chambers – the body that will oversee the operations of the individual chambers – as part of a 50-year development plan for the emirate's economy.
The digital economy chamber's board includes: UAE Digital Government head Hamad Al Mansoori; former du chairman Ahmad bin Byat; Careem co-founder Mudassir Sheikha; Souq.com founder and Amazon Mena vice president Ronaldo Mouchawar; and Aramex founder Fadi Ghandour, who runs venture capital company Wamda Capital.
Beco Capital managing partner Dany Farha, Womena founder Elissa Freiha, Mumzworld founder Mona Ataya, Al Tayer Insignia chief executive Khalid Al Tayer, Cafu founder Rashid Al Ghurair, Barakat board member Rashid Alabbar, Valtrans chief executive Mansour Al Habtoor and Seddiqi Holdings chief marketing officer Hind Seddiqi make up the remainder of the digital economy chamber's board.
An advisory council of more than 40 members also contains other leading lights of the emirate's technology scene, including Telegram co-founder Pavel Durov, Bayt.com founder Rabea Ataya, Propertyfinder's Michael Lahyani, Kitopi founder Mohamad Ballout and venture capitalists, including Middle East Venture Partners founder Walid Hanna and Global Ventures partner Noor Sweid.
Dubai has been providing a growth-friendly environment for digital businesses since the launch of Dubai Internet City back in 1999, Mr Al Olama said. There are about 1,400 SMEs in the sector in the UAE that have attracted Dh1.5 billion ($408.4 million) worth of funding and have a combined value of more than Dh100bn, according to the chamber.
The Dubai Chamber of Digital Economy has been tasked with building an advanced digital infrastructure and attracting global investment into the sector, providing incentives and facilities to attract entrepreneurs from around the world. Its job involves identifying any gaps and growth opportunities in the digital economy and proposing new policies or legislation that help to strengthen it.
“Investing in digital solutions and emerging technologies will create new opportunities and boost Dubai’s competitiveness,” said Mr Al Olama.
