• | 11:00 am

UAE Cabinet announces council for digital economy to be led by minister of AI

The council is part of a series of initiatives aimed to enhance the UAE's digital economic strategy and double its GDP contribution to 19.4%.

[Source photo: Shutterstock, Venkat Reddy/Fast Company Middle East]

The UAE Cabinet announced its digital economic strategy plans to increase the sector’s contribution to 20% from 9.7% over the next ten years. To this effect, the Cabinet has approved the formation of a special council for the digital economy to be led by Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications.

His Highness Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, chair of the cabinet meeting, said, “Our goal is for this sector to contribute 20% of our total non-oil national economy in the coming years. We formed a Digital Economy Council headed by Minister of Artificial Intelligence Omar Al Olama.”

The strategy includes more than 30 initiatives and programs focused on six sectors and five new areas of growth. Definitive of the digital economy in the country, the plan outlines a unified mechanism for measuring its growth. It will also define the priorities of a country’s digital sector, ensuring the contribution of all other economic sectors to promote and support the digital economy.

In addition, the Cabinet announced the adoption of a regulatory framework to support the foreign humanitarian work of the UAE, including the establishment of coordination offices in the country’s missions. “Our humanitarian work is continuous and the UAE will always remain the capital of generosity and goodness,” His Highness said.

“At the Cabinet meeting, we adopted unified standards for licensing and encouraging family counseling professions. The goal is to increase efficiency and provide families with the best specialists in all family matters. We also approved the restructuring of the Board of Trustees of the Higher Colleges of Technology (HCT), chaired by Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs. Education needs to be developed continuously, for a better future”, His Highness added.

The Cabinet also adopted a number of international agreements including an agreement to link the payment systems of the GCC countries; agreements with the United States, Denmark and Brazil. His Highness added, “We approved the country’s accession to the International Partnership for Hydrogen and Fuel Cells in the Economy.”

More Top Stories:

FROM OUR PARTNERS