Partnership to Enhance Dubai’s Status as a Global Digital Investment Hub.
Dubai Chambers signed a Memorandum of Understanding with the Dubai Multi Commodities Centre (DMCC) in a move that seeks to advance the emirate’s global leadership position in digital investment. The two institutions will develop a comprehensive package for services intended to assist companies to start and expand operations from Dubai.
Khalid Al Jarwan, Vice President of Operations and acting Vice President of Digital and Commercial Sectors at Dubai Chambers, and Feryal Ahmadi, Chief Operating Officer, DMCC.
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This will be an excellent partnership for companies, especially those that deal with emerging technologies like cryptocurrencies, artificial intelligence, and gaming. DMCC will offer special business setup support packages tailored for companies introduced by Dubai Chambers. This will be done to facilitate the entry and operational processes for businesses interested in capitalising on the dynamic business landscape in Dubai.
Specialized Support and Access to Resources
The MoU has provided the means whereby firms attracted to Dubai by Dubai Chambers will have easy access to a wide array of resources and support mechanisms. Such firms will, among other things, enjoy access to DMCC’s knowledge series events, a popular venue for sharing industry insights and best practices. Also, firms will have complimentary access to DMCC’s compliance hub and tax clinics as well, further making complexity of regulatory and fiscal obligations.
Vice president operations and acting vice president for the digital and commercial sectors of Dubai Chambers, Khalid Al Jarwan, said, “This agreement with DMCC we want to solidify our place as a global leader for the digital economy as well as a leading incubator for innovative companies working with future-facing sectors.” This is part of our efforts toward attracting global investments to Dubai and developing an advanced digital business ecosystem in the emirate.
Commitment to Driving Investment and Innovation
The partnership aligns with DMCC’s proven role as a major contributor to foreign direct investment (FDI) in Dubai. DMCC Chief Operating Officer Feryal Ahmadi explained that the MoU was of strategic importance, “As a contributor to 15% of Dubai’s annual foreign direct investment, DMCC has become a core driver in attracting international capital and investment flows to the emirate – in particular for areas of the digital economy such as AI, crypto and gaming.” This partnership with Dubai Chambers will offer focused support to international companies that are leaders in the Web3 space, mutually working to further establish Dubai as an investment destination that is driven by innovation.
Supporting the Dubai Economic Agenda (D33)
The critical role that Dubai Chambers play in the implementation of the Dubai Economic Agenda D33, which targets an expansion of the emirate’s economy in size to be twofold within the next decade, ranking Dubai as among the top three cities around the globe, is in terms of strategy, with an overall emphasis on enhancing Dubai’s business environment, attracting businesses and investments globally, and enabling international growth for the chambers’ members. The third pillar is focusing on developing the emirate’s digital economy, further developing advocacy effectiveness, and also ensuring high standards of both institutional and customer service excellence.
The MoU is an important step forward in the alignments of strategic partnerships towards elevating Dubai’s appeal as a digital investment powerhouse as well as reinforcing its centre status for forward-thinking business and technological advancements.
