Dubai Chambers, DMCC to enhance Dubai as a digital investment destination

Monday, 4 November 2024 13:18

By ARN News Staff

Dubai Chambers has signed a Memorandum of Understanding (MoU) with DMCC (Dubai Multi Commodities Centre) aimed at enhancing Dubai’s position as a global destination for digital investments.

The agreement will provide access to comprehensive service packages for companies looking to launch and expand from Dubai to the world by leveraging the promising investment opportunities available in key digital economy sectors.

As part of the MoU, DMCC will offer special business setup support packages for companies attracted to the emirate by Dubai Chambers, particularly those specialising in cryptocurrencies, artificial intelligence, and gaming. Companies will also benefit from opportunities to participate in DMCC’s knowledge series events, as well as access the services of DMCC’s compliance hub and tax clinics on a complimentary basis.

Khalid Al Jarwan, Vice President of Operations and acting Vice President of Digital and Commercial Sectors at Dubai Chambers, said, "Through this agreement...we aim to cement Dubai’s position as a...leading incubator for innovative companies specialising in future-facing sectors. This comes as part of our commitment to attracting global investments to Dubai and developing an advanced digital business ecosystem in the emirate.”

Feryal Ahmadi, Chief Operating Officer, DMCC said: “In contributing 15 per cent 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. Our partnership with Dubai Chambers will provide dedicated support for global companies at the forefront of Web3, together further positioning Dubai as the chosen destination for innovation-focused investments.”

Dubai Chambers plays a key role in supporting the objectives of the Dubai Economic Agenda (D33), which aims to double the size of the emirate's economy over the next decade and position Dubai as one of the top three cities globally.

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