Dubai Chamber of Digital Economy signs strategic partnership agreement with Enterprise Ireland | Kanebridge News
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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.

By WAM
Wed, Jan 31, 2024 10:43amGrey Clock 2 min

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).



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Preparatory Work for UAE to Oman Hafeet Rail Project Commences at Full Speed

Preparations have begun on the transformative UAE to Oman Hafeet Rail network, revealing significant construction details during a site visit.

Thu, May 16, 2024 3 min

The $3bn Hafeet Rail project between the UAE and Oman will feature 60 bridges and a 2.5km tunnel, making it an “architectural and engineering marvel,” according to CEO Ahmed Al Musawa Al Hashemi.

Hafeet Rail has announced that preparatory work is moving full speed ahead for constructing the transformative railway link between the UAE and Oman. This announcement was made during a site visit attended by key officials, members of the Asyad and Hafeet Rail executive management teams, project contractors, and consultants.

Key Highlights

During the visit, attendees were introduced to the main components of the project, including passenger, repair, and shipping stations, as well as major bridges and tunnel sites.

The Hafeet Rail project is set to play a very important role in enhancing local and regional trade, unlocking new opportunities in the infrastructure, transportation, and logistics sectors, and fostering economic diversification. It will also strengthen bilateral relations between the UAE and Oman.

The project will involve constructing 60 bridges, some reaching heights of up to 34 meters, and tunnels extending 2.5 kilometres. The Hafeet Rail team showcased the latest rail technologies and innovative engineering and architectural solutions designed to navigate the challenging geographical terrain and weather conditions while maintaining high standards of efficiency and safety.

The rail network will boost various industrial sectors and economic activities and significantly impact the tourism industry by facilitating easier and faster travel between the two countries.

Ahmed Al Bulushi, Asyad Group Chief Executive Asset, noted that the project’s rapid progress reflects the commitment of the UAE and Oman to developing and realizing the project’s multifaceted benefits.

Investment and Future Impact

Al Bulushi added that investments in developing local capabilities and expertise in rail-related disciplines over recent years have enabled the project to reach the implementation phase successfully under the leadership of highly efficient and professional national talent.

Hafeet Rail’s CEO Ahmed Al Musawa Al Hashemi emphasized, “The commencement of preparatory works for construction is a testament to the robust synergy between all parties involved in both nations, achieving this milestone in record time. We are confidently laying down the right tracks thanks to the shareholders of Hafeet Rail and the expertise of local companies in Oman and the UAE, alongside international partners.”

During the site visit, the visitors explored some of the key preparatory sites, including Wadi Al Jizi, where a 700-meter-long bridge towering 34 meters will be constructed. This ambitious project is envisioned as an architectural and engineering marvel in a complex geographical landscape.

Future phases will require more collaboration, with a continued focus on quality, safety, and environmental considerations in line with the international industry best practices.

The Hafeet Rail project represents the first-of-its-kind railway network linking two Gulf nations, marking a significant shift in regional goods transportation. This efficient and reliable transportation option will reduce dependence on slower and less sustainable road transport.

Hafeet Rail promises a 40% reduction in shipping costs and a 50% in transit times compared to traditional land transportation methods, as it will be connecting five major ports and several industrial and free zones in both countries.

This shift will reduce reliance on road transport by cars and trucks and promote more sustainable shipping practices. The establishment of the railway network will also create significant opportunities for SMEs in construction, engineering, and logistics support, acting as a catalyst for economic growth and innovation within the domestic economy.

By linking major ports, the Hafeet Rail project will enable local SMEs to import, export, and distribute their products more effectively, enhancing their market reach and global competitiveness.

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