DUBAI, 14th September, 2022 (WAM) — The United Arab Emirates (UAE) Digital Economy Council recently held a meeting led by the Minister of State for Artificial Intelligence, Digital Economy and remote work applications, Omar Sultan Al Olama, to achieve digital economy goals and strategic indicators, lead the project implementation process in government agencies, enhance the growth of the digital economy and shaping the digital future of the UAE.
Al-Olama affirmed that the UAE, with the vision of Vice President, Prime Minister and Governor of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, seeks to achieve a strong digital economy.
This will happen by fusing distinguished talents with the latest technologies to increase truth in the field of economics and build a thriving economy based on future technology.
He said, “We here anticipate a new phase of technology adoption to support economic growth.”
He added that the digital economy, as an important pillar of our national plans and strategies, is a new gateway to opportunities based on knowledge and innovation to achieve unprecedented growth in all areas related to the Digital Economy. It is also a pillar to improve the competitiveness of the United Arab Emirates and increase the contribution of the digital economy to GDP from 9.7% to 19.4% by 2030.
Al-Olama pointed out that the UAE Digital Economy Council aspires to monitor the development of the digital sector’s contribution to non-oil GDP. The council will also monitor the use of digital transactions and the classification of the UAE in global indicators in the field of digital economy by establishing 40 strategic initiatives related to the digital economy.
The UAE Digital Economy Council was formed by a decision of the UAE Cabinet headed by Omar Sultan Al Olama.
Board members included a number of heads of government at federal and local sector and entity levels related to the digital economy: Undersecretary of the Ministry of Economy, Abdullah Al Saleh; the Undersecretary of the Ministry of Finance, Younés Haji Al Khoori; Director General of the Telecommunications and Digital Government Regulatory Authority, Magued Sultan Al Mesmar; Vice President of Financial Infrastructure and Digitization Department at CBUAE, Seif Humaid Al Dhaheri; the CEO of the Securities and Commodities Authority, Dr. Maryam Buti Al Suwaidi; the Director General of Economic Affairs at ADDED, Sameh Abdullah Al Qubaissi and the Director General of the Department of Economy and Tourism of Dubai, Hélal Saïd Al Marri.
The meeting was held physically in Emirates Towers to discuss mechanisms to achieve the targets of increasing the contribution of the digital economy to non-oil GDP within ten years.
By building capacity and attracting top talent in technology and digital infrastructure, the council will help make the UAE’s digital economy the most successful among digitally advanced countries.
Translated by: Mervat Mahmoud.