Dubai is steadily reinforcing its position as a global centre for cutting-edge technology and a major centre for digital business models and transformational initiatives, said Sheikh Hamdan bin Mohammed.
The Crown Prince of Dubai and chairman of the emirate's Executive Council was speaking during the second meeting of the Higher Committee for Future Technology and Digital Economy, the Dubai Media Office said on Sunday.
“Dubai is proactively developing plans to accelerate digital growth and adopt new technologies through collaborative partnerships among government entities, international corporations and the broader private sector,” Sheikh Hamdan, who is chairman of the committee, said.
Dubai is seeking to cement its position as a global capital of the digital economy.
The national digital economy is expected to grow to more than $140 billion in 2031, up from today’s nearly $38 billion, according to a recent report by the Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers.
The UAE Cabinet approved the formation of the Higher Committee for Government Digital Transformation last year as the country presses forward with plans to develop a digital economy and make use of future technology.
Dubai announced the formation of the Higher Committee for Future Technology and Digital Economy in July last year to focus on developing the sector. The goal of the new body is “to promote Dubai's supremacy in the digital economy globally”, Sheikh Hamdan said at the time.
The eight-member committee will supervise the carrying out of strategies relating to the digital economy and future technology in Dubai.
It will aim to help to shape the future of artificial intelligence by investing in the metaverse and establishing partnerships to boost Dubai’s digital economy.
The meeting on Sunday was also attended by Omar Al Olama, Minister of State for Digital Economy, AI and Remote Working System, chairman of the Dubai Chamber of Digital Economy and vice chairman of the committee.
Other members of the committee also attended the meeting. These include Helal Al Marri, director general of Dubai’s Department of Economy and Tourism; Hamad Al Mansouri, director general of the Dubai Digital Authority; Khalfan Belhoul, chief executive of the Dubai Future Foundation; Ahmed bin Byat, vice chairman of the Dubai Chamber of Digital Economy; Malek Al Malek, director general of the Dubai Development Authority and chairman of Tecom Group; and Arif Amiri, chief executive of the Dubai International Financial Centre.
They took stock of recent advancements in the digital field and explored ways to achieve the objectives of the Dubai Metaverse Strategy, which aims to create 40,000 jobs and add $4 billion to the emirate's economy in the next five years, and the Dubai Economic Agenda D33, with a target of reaching Dh32 trillion ($8.71 trillion) by 2033 and establishing the emirate among the top three global cities.
They also discussed the development of Dubai’s digital infrastructure, digital readiness and ways to use its high internet usage rates to take advantage of new opportunities in the sector.
Further, members of the committee discussed plans and recommendations to achieve Dubai’s digital economy goals.
The committee will design policies and analyse trends for the digital economy and future technology, including the metaverse, AI, blockchain, Web3, virtual reality, augmented reality, the Internet of Things, data centres and cloud computing in Dubai.
It will also seek to attract international companies and conferences specialising in future technology and the digital economy.