Dubai Chamber of Digital Economy signs MoUs to boost digital ecosystem

Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, has signed four Memorandums of Understanding (MoUs) to enhance the emirate’s digital ecosystem.

The agreements with Mastercard, RemotePass, Tokio Marine & Nichido Fire Insurance, and Silkhaus were inked during the Dubai Business Forum, an influential global gathering of businesses and investors held from 1-2 November at Madinat Jumeirah in Dubai.

The four deals come as part of the chamber’s drive to achieve its strategic objectives of attracting global digital companies to Dubai and further strengthening the emirate’s advanced digital infrastructure.

The MoU with Mastercard will leverage the $377 billion payment-processing giant’s global expertise to jointly establish a co-branded innovation hub in Dubai.

As part of the agreement, the chamber will work with the expert team at Mastercard Venture Labs to develop and launch the Innovation Centre, which will serve as a platform for cooperation in digital innovation and artificial intelligence technologies.

The Innovation Centre aims to attract international technology companies, startups, and digital talent to Dubai, and will contribute to the creation of joint opportunities and partnerships with prestigious government entities including the Dubai Digital Authority, Dubai Future Foundation, and Dubai Chamber of Commerce.

The MoU was signed by Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, and Mete Guney, Executive Vice President of Services for Eastern Europe, Middle East, and Africa at Mastercard, during the second day of the Dubai Business Forum.

Dubai Chamber of Digital Economy also signed three MoUs with RemotePass, Tokio Marine & Nichido Fire Insurance, and Silkhaus, which have joined the growing list of strategic partners providing specialised services to digital companies as part of the ‘Business in Dubai’ platform.

Al Gergawi commented, “The signing of these MoUs reflects the chamber’s commitment to implementing the wise vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to strengthen Dubai’s position as the global capital of the digital economy. These agreements will contribute to achieving our strategic objectives by further enhancing the emirate’s digital ecosystem and consolidating Dubai’s position as the destination of choice for digital companies of all kinds around the world.” ‘Business in Dubai’ is a platform launched by Dubai Chamber of Digital Economy to enhance Dubai’s favourable business environment by simplifying a range of processes for companies seeking to set up or expand their activities in the emirate. Aimed both at businesses seeking to launch in the emirate and existing digital companies, the platform offers convenient access to world-class infrastructure designed to foster creativity and enable companies to explore new business horizons.

The new additions bring the total number of partners providing services through the platform to 14, reinforcing the chamber’s efforts to develop a business environment that helps digital companies grow and prosper in line with the goals of the Dubai Economic Agenda (D33).

The agreements were signed at The Deals Hub, a dedicated impact-driven platform for global business leaders and investors to forge and announce major business initiatives, partnerships, investments, and commercial alliances during the Dubai Business Forum. An innovative initiative that reflects Dubai Chambers’ commitment to driving growth in international trade and investment, The Deals Hub further consolidates Dubai’s position as a leading global city for doing business.

Dubai Chamber of Digital Economy recently unveiled details of its key achievements during the first half of 2023.

Significant milestones included attracting 69 emerging technology companies to the emirate in cooperation with its partners from various government authorities between January and June, in line with the chamber’s commitment to advancing Dubai’s dynamic digital economy and bringing the ambitions of the Dubai Economic Agenda (D33) to life.

During the six-month period, the chamber successfully conducted a series of 12 roadshows across the Middle East, Africa, Asia, and Europe. As part of these roadshows, meetings were coordinated with 279 companies including multinationals, SMEs, startups and scale-ups to showcase the huge growth potential in Dubai and highlight the benefits of doing business in the emirate.

In March, Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, launched the ‘Create Apps in Dubai’ initiative. Led by Dubai Chamber of Digital Economy, the initiative is aimed at promoting a proactive approach to digital entrepreneurship among Emirati youth. The comprehensive training programme teaches recent graduates how to effectively implement their business ideas for mobile apps and is designed to inspire the community to shape the future of smart applications.

Create Apps in Dubai empowers homegrown talent to play a key role in achieving the UAE’s digital vision and has set a target to train 1,000 Emiratis as part of the drive to triple the number of app developers in the emirate by 2025. The initiative supports 100 new national projects for the development of cutting-edge apps, which will be made available in digital app stores over the next two years.

The chamber also announced a new initiative to launch a platform for digital companies that offers a comprehensive range of services aimed at helping tech startups, SMEs, and MNCs to set up and scale up in the Dubai.

The initiative encompasses a full spectrum of support including licensing services, banking solutions, office space, cloud services, and more, creating a ‘one-stop shop’ for companies seeking to establish or expand their business in the emirate with the support of Dubai Chamber of Digital Economy.