Dubai Chamber of Commerce, in collaboration with Dubai Chamber of Digital Economy – two of the three chambers functioning within Dubai Chambers – have introduced six business groups focused on the digital sector, as a means of reinforcing the emirate’s digital economy.
The business groups are aimed at enhancing various digital domains, including software services, e-commerce, connectivity, online gaming services and e-sports, marketing and social marketing agencies, as well as cybersecurity services.
Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, and Chairman of Dubai Chamber of Digital Economy, said, “The digital economy is a major pillar in Dubai’s D33 Agenda, with UAE embarking on a new phase in which it seeks to pioneer and sustain the growth of an economy based on knowledge, innovation and future technologies. These business groups come in line with D33’s objectives which include generating new economic value from digital transformation, at an average of AED100 billion annually.”
The digital industry in Dubai has undergone significant growth in recent years, and the widespread adoption of 5G technology has further enhanced user experience across the UAE.
In fact, the country ranked among the fastest in terms of median download speeds for 5G worldwide last year, with GSMA reporting rates of 516.15 Mbps and 511.70 Mbps. As a result, various sectors such as software services, e-commerce, connectivity, online gaming services, e-sports, marketing and social marketing agencies, and cybersecurity have seen significant capital investments.
For instance, software services received $365.4 million in capital investment in 2022, while e-commerce and gaming received $281.18 million and $159.62 million respectively. Additionally, marketing tech and cybersecurity saw $30.81 million and $7.25 million in capital investment respectively for 2021.
“Business groups are the key to ensuring that the various economic sectors in Dubai are well-oiled machines, particularly for the digital space—an industry that is a cornerstone in Dubai’s economy,” said Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers.
“By providing a forum that facilitates mutual dialogue between the sector’s stakeholders and government entities, the business groups will be able to address policy matters and enhance the competitiveness of their respective sectors.”
The Dubai Chamber of Digital Economy and the Dubai Chamber of Commerce are working together to unlock the full potential of Dubai’s digital economy.
