The Specialised Court for the Digital Economy will aim to simplify the settlement process of complex civil and commercial disputes related to the digital economy locally and internationally. The court will also deal with disputes arising from current and developing technology.
It will cover fields including Big Data, blockchain technology, artificial intelligence, cloud services, unmanned aerial vehicles, 3D printing technology and robotics.
"The infrastructure of our courts in Dubai will keep pace with our future economic aspirations," said Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance, Deputy Ruler of Dubai and President of the Dubai International Financial Centre.
The move is part of Dubai's efforts to stay ahead of the rapidly changing digital economy, he said.
The digital economy contributes about 4.3 per cent to the UAE's gross domestic product, which is equivalent to Dh100 billion ($27.22bn), figures from Dubai Chamber for Digital Economy show. Technology also plays a vital role in Dubai's economy.
The emirate launched a Dh1bn ($272.3 million) Future District Fund to support technology companies and encourage them to list on the emirate’s stock market.
The fund will help to establish 1,000 digital companies in the emirate over the next five years and will support Dubai’s digital economy and projects using the latest technology and develop the economic sectors of the future.
The new court to settle matters related to digital economy will start providing services by the first quarter of 2022, the statement said.
DIFC Courts is currently selecting and appointing judicial experts for the new court, which will complement specialised divisions in existing courts including the Technology and Construction Division and the Arbitration Division.
A group of international lawyers and industry experts will be appointed to draft and approve new rules for the Digital Economy Court in early 2022. These will then be issued after a 30-day public consultation campaign, the statement said.
“The potential of the UAE’s judicial systems to support and protect the continuity of business projects will prove to be extremely vital to the country’s long-term goals of attracting and retaining foreign investment," said Omar Al Muhairi, director of the courts of the Dubai International Financial Centre.
"Dubai’s well-grounded commitment to strengthen a highly competitive business environment is key to its vision of deep-rooted economic diversification.
"This court is the first of its kind in the world offering new and exciting innovations that will provide the best avenues to access justice, not only for companies operating in the UAE but for international companies seeking a fair jurisdiction.”