UAE to form new task force for digital economy, says Minister

According to the Minister of economy, the UAE will form a task force to develop a next-generation digital economy structure for 2050-2060, who spoke at the GITEX GLOBAL Leaders Vision.

His Excellency Abdulla Bin Touq Al Marris, speaking at the conference’s Vision UAE day, emphasized that government and business leaders must go beyond the pandemic to a digitally connected economy driven by imagination.

Despite the consequences of the Covid-19 pandemic, His Excellency Al Marri stated that skill would fuel the future economy, and that the UAE had proved its resilience and promise by producing a 13 percent rise in exports in 2020 compared to 2019.

The Minister noted that at Expo 2020 Dubai, crucial B2B cross-national discussions are taking place, with digitisation, diversification, and tourism dominating the agendas.

Space Programme aiding economic diversification:

The UAE Government is calling for the private sector to contribute 50% of the upstream development of its 2030 mission to explore Venus and the Asteroid Belt, according to GITEX GLOBAL Leaders Vision. The next space race, according to Ibrahim Al Qasim, Executive Director, UAE Space Agency, will be waged by the private sector, with governments providing investment and rules to limit risks and enable essential innovation.

Abu Dhabi Investment Office attracts big names in tech

According to GITEX GLOBAL Leaders Vision, the Abu Dhabi Investment Office has recruited eight large ICT businesses to the UAE this year. Despite the epidemic, Souad Al Hosani, Acting Director of Investor Care, stated the Emirate prioritizes public-private sector collaboration and has demonstrated a plethora of opportunities by increasing inward FDI by 44 percent last year compared to 2019.

Abu Dhabi‘s Q Studio‘s Inaugural Built Venture on the horizon

According to Majid Al Mail, Head of Q Studio and DisruptAD’s Venture Builder & Associate Director of ADQ, which champions sector growth in the emirate, the emirate’s venture builder, DisruptAD, is hopeful of realizing its first firm before the end of the year. In the UAE, Al Mail listed mobility and logistics as areas ripe for disruption.