Dubai to develop digital economy strategy

Dubai has adopted a new action plan designed to develop a digital economy strategy to create new jobs and growth opportunities. 

The plan was devised at a two-day Dubai Digital Economy Retreat which concluded on Wednesday. Discussions at the event which was organized by Dubai Chamber of Digital Economy generated several practical recommendations to address existing challenges in the market.

Interactive workshops during the event identified key market issues and challenges, including the need to attract more digital companies and specialised talent to Dubai, high costs for companies operating in this sector, encouraging more digital startups and enhancing investments in growing these businesses, widening acceptance of e-commerce payments and removing barriers of entry and enhancing the quality of services operating in this space.

The action plan is structured around three pillars: enhancing the digital business environment, supporting the development of digital companies and attracting leading digital companies to Dubai. The plan emphasises the importance of understanding the current and future infrastructure needs of the digital economy, facilitating access to funding and managing relationships and networks abroad with digital-related entities.

Addressing participants, Minister of State for Artificial Intelligence and Chairman of the Dubai Chamber of Digital Economy Omar bin Sultan Al Olama said the newly announced action plan lays the groundwork for developing Dubai’s digital economy strategy and ecosystem. 

Al Olama said that the retreat achieved its objective of involving private sector stakeholders in key discussions with their public sector counterparts that will shape Dubai’s future vision and enhance the emirate’s economic competitiveness in the long term.