His Majesty Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai have authorized the Dubai Chamber of Digital Economy's board of directors and advisory council as part of the newly created organization.

Dubai Chamber of Digital Economy was recently established as one of three new chambers under the umbrella of Dubai Chambers, to guide holistic economic growth in Dubai and strengthen its position as a worldwide commercial centre.

The new chamber would be critical in converting Dubai into an international technology powerhouse and drawing significant investment in e-commerce and new technologies.

“We intend to establish Dubai as a significant center for shaping the future of the digital economy,” Sheikh Mohammed stated. In the future phase, our efforts would be focused on building new high-tech tools and guiding effective digital experiences.”

It is presided over by Omar Sultan Al Olama, the Dubai Chamber of Digital Economy’s board include Ahmad bin Byat, Hamad Obaid Al Mansoori, Khalid Al Tayer, Rashid Al Ghurair, Fadi Ghandour, Mona Ataya, Rashid Mohamed Alabbar, Ronaldo Mouchawar, Mudassir Sheikha, Mansour Al Habtoor, Elissa Freiha, Dany Farha and Hind Seddiqi.

The chamber's advisory council consists of Pavel Durov, Guillaume Pousaz, Alexander Tamas, Divyank Turakhia, Christoph Rich, Ahmad Abdulkarim Julfar, Jack Selby, Bhavin Turakhia, Rabea Ataya, Ryan Mahoney, Karl Magnus Olsson, Fahad Al Hassawi, Mohamad Ballout, Walid Hanna, Michael Lahyani, Philip Bahoshy, Haider Ali Khan, Hosam Arab, Wesam Lootah, Joe Abi Akl, Younus Al Nasser, Faisal Rehman, Farid Faraidooni, Majed Sultan Al Mesmar, Mostafa Kandil, Talal Tabbaa, Talal Bayaa, Arjun Mohan, Osman Sultan, Muhammed Yesilhark, Sayed Hashish, Vinod Krishnan, Hussein Freijeh, Jiawei Liu, Ali Khanafer, Ali Matar, Mohammed Asfour, Amit Jain, Azzam Alameddin, Noor Sweid, and Raja Al Mazrouei.

According to statistics, the UAE has 90 digital investment funds and 12 business incubators. The country currently has 1,400 SMEs worth Dhs100 billion that get Dhs1.5 billion in finance.

According to Al Olama, Dubai's path toward building a growth-friendly atmosphere for the digital economy began with the establishment of "Dubai Internet City," the region's first specialized technology hub, in 1999. Today, the city is home to global IT giants that contribute significantly to the emirate's digital economy.

“Dubai Government has subsequently pioneered pioneering projects such as e-government, smart government, and Dubai future accelerators, culminating in the formation of a chamber devoted to boosting the significance of the digital economy in Dubai,” he continued. Each of these components contributes to the establishment of a firm foundation for a flexible, competitive, and innovative economy.”

As per Al Olama, the chamber would undertake programs and efforts to boost Dubai's status as a technology and innovation powerhouse. “Investment decision in digital solutions and upcoming technology will open up new doors and increase Dubai's competitiveness.”

The Dubai Chamber of Digital Economy is tasked with transforming Dubai into an international technology hub and developing advanced digital infrastructure; luring foreign investment in e-commerce and digital technologies; and offering incentives and facilities to captivate advanced technology talents and entrepreneurs from around the world.

This will also establish key priorities and targets for the digital economy in Dubai, and undertake regular assessments to recognize shortfalls and opportunities for growth in Dubai's digital economy sectors, and speed up digital technology adoption in economic and social activities to match global patterns.

The chamber's responsibilities have included proposing policies and legislation to accelerate the role of the digital economy in Dubai; partnering with international companies and institutions to establish digital development strategies accordingly with upcoming technology advancements; creating a network of relationships with local and international tech entrepreneurs and investment funds; and increasing the competitiveness of the digital economy in Dubai launching different projects, research, and conferences to address the expanding prospects in the digital economy sector, and assisting the emirate's digital transformation.

The newly established Board of Dubai Chambers met for the first time on Wednesday at the organization's offices to examine aims then as the organization prepared to implement a long-term strategy.

During the conference, board members explained the multiple roles that Dubai Chambers would play in improving Dubai's value proposition and economic competitiveness in the international arena, following the guidelines declared in March of this year by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The transformation to a three-chamber format represents a paradigm leap for business in Dubai, reinforcing the emirate's status as a digitally-driven economy and global commercial centre. The new structure permits the various chambers to take a more specialized and effective approach to fulfill His Highness Sheikh Mohammed's strategic goals for Dubai's future-ready economy,” said Abdulaziz Al Ghurair, Chairman of Dubai Chambers.