UAE steps up work on digital economy strategy

Al Olama said that the UAE understands the significance of attracting talent and building a conducive technological environment to promote an advanced economy..reports Asian Lite News

Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, has highlighted the UAE government’s commitment to implementing the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in consolidating the country’s status as a global hub for the digital economy and a platform for digital innovation to boost the national economy.

This was discussed during the first meeting of the UAE Digital Economy Council, which was chaired by Al Olama, and included members of the council such as Younis Haji Al Khoori, Under-Secretary of Ministry of Finance; Abdullah Al Saleh, Under-Secretary of the Foreign Trade and Industry at the Ministry of Economy; Majed Sultan Al Mesmar, Director-General of the Telecommunications and Digital Government Regulatory Authority (TDRA); etc.

Al Olama said that the UAE understands the significance of attracting talent and building a conducive technological environment to promote an advanced economy.

He emphasised that this entails empowering national talents to excel in technological areas and augmenting the digital economy’s contribution to non-oil GDP, adding that ‚ÄúThese objectives are in line with the UAE’s digital economy strategy.”

During the meeting, the council approved the formation of seven sub-committees led by members of the council, to cover all goals of the UAE digital economy strategy in areas such as technological infrastructure and blockchain, e-commerce, financial technologies, investment in the digital economy sector, attracting skills and supporting startups.

Additionally, a committee was formed to specialise in digital economy statistics and prepare an annual report to measure the performance and indicators of the digital economy in the UAE and ensure sustainable progress in the digital economy.

The Ministry of Economy presented the digital trade law, the new national economic record system, and the commercial law, while the Federal Competitiveness and Statistics Centre team presented the methodology used to measure the digital economy performance in the UAE and its contribution to the GDP, which is a main objective of the UAE digital economy strategy.

The council also discussed strategic performance indicators for the digital economy and ways to enhance the UAE’s global position in developing the future digital economy model.

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