UAE Economy Minister, H.E. Abdulla Bin Touq Al Marri, discussed Dubai’s D33 strategic vision for the next ten years and highlighted the importance of partnerships between private and public sectors and the impact of digital currencies and blockchain.
In a session titled “D33: A New Economy,” H.E. bin Touq, also Director General of the Department of Economy and Tourism in Dubai, discussed Dubai’s new strategic vision, D33, which aims to map out the city’s path for the next ten years.
D33 considers the various initiatives and strategies implemented in the past to create a clear roadmap for the future. The UAE and Dubai have made significant progress over the last few decades in terms of hard and soft infrastructure, which has put them in an excellent position for growth. The strategy focuses on forging partnerships between the private and public sectors in critical areas such as talent, ESG, and all sectors, including finance, technology, and manufacturing.
Bin Touq also discussed the role of digital currencies in the UAE’s economic strategy. He emphasized that although crypto and digital currencies’ impact on GDP is relatively small, these sectors are still crucial for the country’s long-term vision.
The UAE is looking to build the necessary ecosystem and environment for these industries to thrive in the future, particularly in areas such as Web 3.0 and blockchain. He believes these technologies will significantly impact the financial sector, logistics, and many other sectors.
Bin Touq also touched on the topic of regulation, emphasizing the importance of working closely with the industry to create regulations that are suitable for them.
He cited the recent case of FTX, where the UAE’s virtual asset regulator quickly put regulations in place to protect the economy and investors, showing the country’s confidence in its regulatory framework.
Regarding the IPO pipeline for 2023, he discussed the impact of inflation and recessionary pressures felt globally. He stated that the UAE’s positioning in the global supply chain, investment in data and logistics capability, and young population with healthy growth rates mean the country is in an excellent position to weather the economic storm. While he did not provide specific figures for IPOs, Al Marri emphasized that the focus is on getting governance in place, which has brought confidence to the market.
Read more: Investopia kicks off by setting the tone for the entire event
Abu Dhabi – Your Next Stop for Business Expansion
Abu Dhabi has recognizably nurtured a supportive business environment, unparalleled connectivity and infrastructure, and an entrepreneurial mindset that presents investors with plentiful growth opportunities.
This session showcased the priority sectors and highlight the role they are playing in the growth of Abu Dhabi and communicated the support, incentives, and initiatives available to investors within the respective sectors.
Gabrielle Inzirillo, a senior specialist in financial technology at the Abu Dhabi Global Market (ADGM), emphasized that the young jurisdiction is built to be future-proof, with regulations that protect consumers while allowing for a thriving industry. ADGM has launched decentralized finance programs, making them a leader in this space.
Safeya Al Maqtari, senior director of operations at Mubadala Health, highlighted the company’s significant investments in life sciences, including a genome project launched during the pandemic. Mubadala Health announced a partnership last month with Biointellesens providing FDA-approved monitoring tools for long-term patients.
TwoFour54, which focuses on the business environment in this space, is supporting the growth of the gaming and screen industry. Masdar, Abu Dhabi’s energy capital, is a regional reference point working to move forward with renewable energies.
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