Dubai Chamber of Digital Economy attracted nine multinational companies to Dubai in 2023, with a combined market value exceeding AED 304 billion (US$ 82.84 billion). The companies span various fields including cybersecurity, mobility technology, health and fitness technologies, new energy-based vehicles, robotics, autonomous systems, e-commerce, the automotive industry, legal services, and cryptocurrencies. The chamber attracted three digital companies from Asia, three from Europe, two from the USA, and one from Latin America [931bfd7e].
The Dubai Chamber of Digital Economy's efforts align with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to enhance Dubai's leadership as a global capital of the digital economy. The chamber is working to achieve the targets of the Dubai Economic Agenda (D33) and strengthen Dubai's leadership in digital investments and specialized talents in digital sectors. The chamber has launched initiatives such as 'Create Apps in Dubai' to equip Emiratis with the skills for mobile application development and aims to triple the number of app developers by 2025. The chamber also launched the 'Business in Dubai' platform to provide support to businesses looking to launch or expand their activities in the emirate. Additionally, the chamber organized workshops, roadshows, and business trips to attract international digital companies to Dubai [931bfd7e].
This development in the digital economy sector further highlights Dubai's commitment to becoming a global hub for digital innovation and investment. The presence of multinational companies in various digital fields will contribute to Dubai's growth and competitiveness in the digital economy. It also reflects the recognition of Dubai as an attractive destination for businesses in the digital sector, with its strategic location, advanced infrastructure, and supportive business environment. The Dubai Chamber of Digital Economy's efforts to attract and support these companies demonstrate the city's dedication to fostering a thriving digital ecosystem [931bfd7e].
The Dubai Chamber of Digital Economy's initiatives, such as 'Create Apps in Dubai' and the 'Business in Dubai' platform, are instrumental in equipping Emiratis with the necessary skills and resources to participate in the digital economy. By tripling the number of app developers and providing support to businesses, the chamber is actively promoting entrepreneurship and economic growth in the digital sector. These initiatives align with Dubai's broader vision of building a knowledge-based economy and nurturing local talent [931bfd7e].
The presence of multinational companies in Dubai's digital economy also brings opportunities for collaboration and knowledge-sharing. The exchange of ideas and expertise between local and international companies can drive innovation and accelerate the development of digital technologies in Dubai. This collaboration can further enhance Dubai's position as a global leader in the digital economy and contribute to its long-term economic sustainability [931bfd7e].
In H1 2024, the Dubai Chamber of Digital Economy supported the establishment of 215 digital startups in the emirate, with a combined market value of around US$ 7 billion. This represents a year-over-year growth of 212% compared to the previous year. The chamber also trained 243 Emiratis as part of the 'Create Apps in Dubai' initiative, which aims to train 1,000 Emiratis and triple the number of app developers in Dubai by 2025. The chamber organized 12 international roadshows to promote Expand North Star, the world's largest gathering of startups and investors, and participated in 15 local and international events during the first half of the year. The chamber signed four memorandums of understanding (MoUs) with partners to enhance Dubai's digital business ecosystem and published two reports on the success rate of scaleups in Dubai and the FDI landscape in MENA [8de8472f].
These achievements further demonstrate the Dubai Chamber of Digital Economy's commitment to consolidating Dubai's status as a global capital for the digital economy. The chamber's initiatives, partnerships, and participation in events contribute to the growth and development of the digital startup ecosystem in Dubai. By supporting the establishment of startups and providing training and resources, the chamber is fostering innovation, entrepreneurship, and economic diversification in the emirate. These efforts align with the vision of 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, to enhance Dubai's position as a global leader in the digital economy [8de8472f], [931bfd7e].
The efforts of both Dubai and Qatar to attract multinational companies and strengthen their digital economies reflect the growing recognition of the importance of digital innovation and investment in driving economic growth. By creating favorable conditions and providing support to businesses, both cities are positioning themselves as attractive destinations for companies in the digital sector. The initiatives launched by the Dubai Chamber of Digital Economy and the collaboration between American companies and Qatari authorities demonstrate the commitment of both cities to fostering a thriving digital ecosystem and nurturing local talent. These efforts will contribute to the long-term sustainability and competitiveness of Dubai and Qatar in the global digital economy [931bfd7e], [bf5a51f9].