Dubai Chamber of Digital Economy signs strategic partnership agreement with Enterprise Ireland
Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, has signed a memorandum of understanding (MoU) to establish a strategic partnership with Enterprise Ireland, the Irish government’s trade and innovation agency and the number one VC in Europe by deal count.
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The new agreement will create a digital bridge between the two countries and ease the processes of attraction and expansion for Irish and Dubai companies.
The MoU was signed at Dubai Chambers headquarters in the presence of Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and Chairman of Dubai Chamber of Digital Economy; Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; and Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy. The Republic of Ireland was represented by Minister Dara Calleary, Minister of State for Trade Promotion, Digital and Company Regulation; Alison Milton, Ambassador of the Republic of Ireland to the UAE; and Leo Clancy, CEO of Enterprise Ireland.
The strategic agreement aims to connect companies in Dubai with Irish businesses to promote mutual cooperation and partnerships. The MoU will create rewarding opportunities for members of Enterprise Ireland, particularly in the fields of technology, manufacturing, and clean energy, as well as environmental, social, and governance practices. In addition, the agreement will strengthen the business, trade, and investment relations between Ireland and Dubai, stimulating economic and commercial ties and enabling Irish companies to expand into markets across the MENA region.
The MoU aims to create opportunities for small businesses between Ireland and Dubai, especially in the area of digital technologies, while providing a platform for businesses in both markets to explore the potential to increase bilateral exports. The agreement also seeks to develop a platform for cross-cultural training and capacity building for doing business across different cultures and languages.
Commenting on the significance of the strategic partnership, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “Dubai plays a pivotal role in the global business landscape and serves as a vital gateway for the growth and expansion of companies from around the world. The emirate is continuing to consolidate its position as an ideal platform that brings together creative ideas and innovative entrepreneurs – particularly in the field of modern digital technologies – creating more opportunities, building promising partnerships, and developing effective solutions and pioneering projects.”
Lootah added: “This partnership between Dubai Chamber of Digital Economy and Enterprise Ireland represents a significant step that will benefit the business communities in both Dubai and Ireland, including small and macro businesses and specialised tech projects. By sharing local expertise and exploring mutual opportunities, the agreement will increase the volume of mutual trade and investment and support the growth of the digital economy.”
Leo Clancy, CEO of Enterprise Ireland explained: “Demand for Irish innovation in Dubai and across the UAE is high, with exports continuing to rise year on year. Through this agreement with Dubai Chamber of Digital Economy, we aim to collaborate together to facilitate strong connections between Dubai Chamber members and Enterprise Ireland client companies for mutual benefit. By focusing on technology, manufacturing, and clean energy, this agreement aligns with our commitment to supporting Irish enterprises in expanding their global footprint. Together, we are unlocking opportunities that will drive growth, innovation, and success for businesses in Dubai and Ireland.”
Dubai Chamber of Digital Economy plays a critical role in consolidating Dubai’s status as a global hub for the digital economy. The chamber is committed to unlocking the full potential of the digital economy and driving Dubai’s ambitious future as a leading global centre for technology and innovation, in line with the goals of the Dubai Economic Agenda (D33).
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Employment grew for the 16th consecutive month as companies expanded.
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According to a recent PMI report, Qatar experienced its fastest non-energy sector growth in almost two years in June, driven by surges in both existing and new business activities.
The Purchasing Managers’ Index (PMI) headline figure for Qatar reached 55.9 in June, up from 53.6 in May, with anything above 50.0 indicating growth in business activity. Employment also grew for the 16th month in a row, and the country’s 12-month outlook remained robust.
The inflationary pressures were muted, with input prices rising only slightly since May, while prices charged for goods and services fell, according to the Qatar Financial Centre (QFC) report.
This headline figure marked the strongest improvement in business conditions in the non-energy private sector since July 2022 and was above the long-term trend.
The report noted that new incoming work expanded at the fastest rate in 13 months, with significant growth in manufacturing and construction and sharp growth in other sectors. Despite the rising demand for goods and services, companies managed to further reduce the volume of outstanding work in June.
Companies attributed positive forecasts to new branch openings, acquiring new customers, and marketing campaigns. Prices for goods and services fell for the sixth time in the past eight months as firms offered discounts to boost competitiveness and attract new customers.
Qatari financial services companies also recorded further strengthening in growth, with the Financial Services Business Activity and New Business Indexes reaching 13- and nine-month highs of 61.1 and 59.2, respectively. These levels were above the long-term trend since 2017.
Yousuf Mohamed Al-Jaida, QFC CEO, said the June PMI index was higher than in all pre-pandemic months except for October 2017, which was 56.3. “Growth has now accelerated five times in the first half of 2024 as the non-energy economy has rebounded from a moderation in the second half of 2023,” he said.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
