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 a similar vein, American companies specializing in digital technology have expressed a strong interest in expanding their footprint in Qatar. Qatar's attractiveness as an investment destination for US businesses was highlighted in meetings between Qatari ministries and 20 US companies led by Khush Choksy, senior vice-president of the US Chamber of Commerce for Middle East, Central Asia, and Turkiye. Qatar has a concentrated focus on developing its technology, biotech, and artificial intelligence (AI) sectors, where American companies have a strong competitive advantage. The Qatari government has announced a QR9bn incentive package to support comprehensive digital transformation, including a $1bn fund to support regional entrepreneurs and emerging companies. The government will also support the private sector in driving Qatar's digital economy. The US Chamber of Commerce aims to foster ties between American educational institutions and Qatar's Education City. The US Chamber of Commerce is working with Qatari authorities to provide conditions and frameworks that will foster greater investment by American companies [bf5a51f9].
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].