Emirates News Agency – Dubai Chamber of Commerce and Dubai Chamber of Digital Economy launch 6 business groups in the digital technology sector

DUBAI, March 1, 2020 / WAM / The Dubai Chamber of Commerce and the Dubai Chamber of Digital Economy, which operate under the umbrella of Dubai Chambers, announced the launch of six new business groups specialized in the digital technology sector, as part of joint efforts to enhance the competitiveness of the business community, as business groups include Software services, e-commerce, communication, gaming and e-mathematics services, traditional marketing and social media marketing agencies as well as cyber security.

His Excellency Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, and Chairman of the Board of Directors of the Dubai Chamber of Digital Economy, stressed that the digital economy is a fundamental pillar of the Dubai Economic Agenda D33, which draws the contours of the new phase for the state to continue its pioneering efforts in building an existing economy. On knowledge, innovation and future technologies in line with the new business groups that have been established with the goals of the agenda in creating new economic value from digital transformation at an average of 100 billion dirhams annually.
For his part, Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, said: “Business groups are an essential pillar to ensure the smooth functioning of economic sectors and activities in Dubai, especially the digital technology sector, which is a cornerstone of the emirate’s economy. Business groups provide an ideal platform for mutual dialogue between The concerned authorities and government institutions, which enable them to address issues related to the sector’s policies and enhance its competitiveness.

The digital technology sector in Dubai has witnessed great development over the past few years. The fifth generation (5G) technology has contributed to enhancing the user experience in the country as the most prominent technology for wireless communication. At the international level, the UAE ranked high in the list of the fastest average data download speed over the fifth generation network at 516.15 Mbps and 511.70 Mbps last year, according to the International Mobile Networks Association (GSMA).
As a result, the six sectors and areas – software services, e-commerce, communication, electronic games and e-sports services, traditional marketing agencies and social media marketing in addition to cyber security services – have witnessed strong capital investments. According to the “Pitchbook” report, investment capital invested in the UAE in 2022 in software services amounted to $365.4 million, e-commerce $281.18 million, electronic games $159.62 million, e-sports $1 million, and marketing technology $30.81 million. While the value of investment capital invested in cybersecurity companies and deals in 2021 amounted to $7.25 million.