The newly established board of the Dubai Chamber of Digital Economy, one of three chambers under recently reorganized Dubai Chambers, met for the first time on Monday at the organization's offices to examine the Chamber's objectives and plans for the remainder of the year.

The meeting was headed by Omar bin Sultan Al Olama, Chairman of Dubai Chamber of Digital Economy was attended by board members Ahmad Abdullah bin Byat; Hamad Obaid Al Mansoori; Khalid Ahmed Al Tayer; Rashid Abdullah Al Ghurair; Fadi Ghandour; Mona Ataya; Rashid Mohamed Alabbar; Ronaldo Mouchawar; Mudassir Sheikha; Mansour Al Habtoor; Elissa Freiha; Dany Farha; and Hind Abdul Hamied Seddiqi.  Hamad Buamim, President & CEO of Dubai Chamber of Commerce & Industry, also was part of the meeting.

In the meeting, Ahmad Abdullah bin Byat was appointed Vice-Chair of the Board of Directors of the Dubai Chamber of Digital Economy, and board members analyzed the multiple roles that the Chamber will play in enhancing Dubai's value proposition and economic competitiveness following the guidelines of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The instructions, which were announced earlier this year, established a new framework for the Dubai Chamber, consisting of three chambers: Dubai Chamber of Commerce, Dubai Chamber of International Trade, and Dubai Chamber of Digital Economy.

Al Olama stated that the board of directors has approved a new plan to stimulate the development of Dubai's digital economy and double the number of digital firms operating in the emirate over the next several years.

“This roadmap would strengthen Dubai's position as a worldwide leader in the digital economy, attracting specialized people, top firms, and new investments. Homegrown success stories like Careem and Souq have increased Dubai's attractiveness as an e-commerce and digital economy hub, and we aim to increase the bar even higher by recruiting additional global firms which can assist the emirate's digital economy goals and innovation ecosystem,” said Al Olama.

He said that the Dubai Chamber of Digital Economy's board of directors would seek to achieve other major goals, such as promoting best practices and collaborations, organizing roadshows, campaigning and policy advocacy, market development, self-regulation, training, and business promotion. Furthermore, he stated that the board would analyze and approve new projects and programs aimed at supporting Dubai's digital economy objectives, providing input on legislative and regulatory reforms, and identify market problems and possibilities.

The establishment of three chambers of commerce is intended to boost international trade and also the digital economy, as part of a five-year strategy to raise Dubai's foreign trade from Dhs 1.4 trillion to Dhs 2 trillion over the next five years.

Meanwhile, the newly established board of Dubai Chamber of Commerce, one of three chambers together under recently reorganized Dubai Chambers, meeting for the first time the previous week at the organization's headquarters and adopted a 90-day strategy to accelerate business growth in Dubai.

The plan's objectives include: increasing Expo 2020 Dubai's exposure by driving involvement and luring 100,000 business leaders to participate in the mega event; highlighting crucial problems facing businesses and establishing priorities on a federal and local level to promote effective solutions; and aiding the development of the digital economy as a significant contributor to the emirate's sustainability.

The Future Growth Forum, which had been recently created by Dubai Chamber as a forum to foster public-private sector interaction, supports the aims. The first session, which was conducted earlier this week, drew 500 business executives from 24 industries. Attendees at the forum participated in many sessions, where they identified 800 objectives and suggestions for increasing the convenience of doing business and lowering the expense of doing business in Dubai.

Board members described the different roles that the Dubai Chamber of Commerce would play in facilitating Dubai's value proposition and economic competitiveness following the guidelines set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in March of this year. The instructions formed a new structure for the Dubai Chamber, consisting of three chambers: Dubai Chamber of Commerce, Dubai Chamber of International Trade, and Dubai Chamber of Digital Economy.

The Dubai Chamber of Commerce & Industry, founded in 1965, is a non-profit public entity whose objective is to represent, assist, and protect the interests of the business community in Dubai by constructing a favorable business environment, facilitating business development, and propagating Dubai as an international business hub.

The Dubai Chamber of Commerce and Industry offers an integrated system of smart and electronic services that meet all of the needs of the business community, allowing companies to execute their transactions remotely, conveniently and following the greatest international standards. The Chamber is a pioneer supplier of smart services, having smart transformed 98% of its key services, which may be reached through the Chamber's smart application or by visiting the website.