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Friday, June 14, 2024

Dubai Chamber launches six digital business groups


The Dubai Chamber of Commerce has partnered with the Dubai Digital Economy Chamber to internally set up six business groups to strengthen the UAE’s digital economy.

The newly formed business groups cover software services, e-commerce, connectivity, online gaming services and esports, marketing and social marketing agencies, and cybersecurity services.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications and Chairman of Dubai Digital Economy Chamber, said: “The digital economy is a key pillar of Dubai’s D33 agenda and the UAE is entering a new phase that seeks to pioneer and sustain development based on knowledge, innovation and Economic growth of future technologies. These business groups are in line with D33’s goals, which include generating new economic value through digital transformation, averaging AED100 billion (US$27.23 billion) per year.”

well run machine

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chamber of Commerce, said: “The business community is key to ensuring that all sectors of Dubai’s economy are functioning well, especially the digital sector – which is the backbone of Dubai’s economy. cornerstone. By providing a forum that fosters mutual dialogue between stakeholders in the industry and government entities, conglomerates will be able to address policy issues and increase the competitiveness of their respective industries.”

Dubai’s strong and vibrant digital industry has grown tremendously over the past few years. As 5G becomes the most important wireless connectivity technology, it enhances the user experience across the UAE. Globally, the UAE recorded an average 5G download speed of 516.15 Mbps and 511.70 Mbps last year, making it one of the fastest countries, according to the GSMA.

As a result, six industries—software services, e-commerce, connectivity, online gaming services, esports, marketing and social marketing agencies, and cybersecurity—have seen healthy capital investment flows. According to Pitchbook, in 2022 the UAE will invest US$365.4 million in software services, US$281.18 million in e-commerce, US$159.62 million in gaming, US$1 million in e-sports and US$30.81 million in marketing technology. The capital invested in cyber security companies and deals in UAE in 2021 is USD 7.25 million. — trade arab news agency


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