Dubai Chamber of Digital Economy attracted nine multinational companies with a combined market value of AED 304 billion during 2023

Business

Dubai Chamber of Digital Economy attracted nine multinational companies with a combined market value of AED 304 billion during 2023

● Omar Sultan Al Olama: “Attracting these types of multinational companies is an achievement added to Dubai’s accomplishments as the emirate continues to develop a comprehensive business ecosystem and enhance growth, innovation, and creativity.” “These efforts embody the vision of His Highness

The Dubai Chamber of Digital Economy, operating as one of the three chambers under Dubai Chambers, has unveiled a remarkable achievement, announcing the successful attraction of nine multinational companies (MNCs) to Dubai in the past year. The combined market value of these companies exceeds AED 304 billion (US$ 82.84 billion), reflecting the growing appeal of the emirate as a premier investment hub for innovative technology firms.

Diverse in their specializations, the nine MNCs span various sectors including cybersecurity, mobility technology, health and fitness technologies, new energy-based vehicles, robotics, autonomous systems, e-commerce, automotive industry, legal services, and cryptocurrencies. Their arrival underscores the chamber's commitment to bolstering Dubai's digital economy, aligning with the objectives outlined in the Dubai Economic Agenda (D33).

These companies, hailing from Asia, Europe, the USA, and Latin America, represent a promising expansion of Dubai's digital landscape. His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of Dubai Chamber of Digital Economy, hailed the achievement as a testament to Dubai's ongoing efforts in fostering a comprehensive business ecosystem.

Highlighting the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Al Olama emphasized Dubai's trajectory towards becoming a global capital of the digital economy. He noted the city's attractiveness for investment and its pivotal role in facilitating the regional and global expansion of technology-focused companies.

Al Olama reiterated the chamber's dedication to achieving the targets set forth in the Dubai Economic Agenda (D33) through strategic initiatives aimed at enhancing the digital business environment. Efforts are focused on attracting more companies, investors, and entrepreneurs to Dubai, solidifying its position as a top destination for digital investments and specialized talents.

Among the initiatives driving Dubai's digital transformation is the 'Create Apps in Dubai' program, initiated by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. This initiative aims to equip Emiratis with the skills needed for mobile application development, supporting national projects and fostering innovation.

Under the leadership of the Dubai Chamber of Digital Economy, efforts to accelerate the emirate's transition into a leading digital economy continue. Initiatives such as the Emirati Training Academy and the 'App Olympics' competition are aimed at nurturing local talent and fostering innovation. Additionally, the 'Business in Dubai' platform provides practical support for businesses looking to establish or expand their presence in the emirate.

Throughout 2023, the chamber organized workshops, roadshows, and business trips across various regions to facilitate international partnerships and attract digital companies to Dubai. With a focus on innovation, collaboration, and growth, Dubai's digital economy remains on a trajectory of continuous expansion and development.