Dubai Government Announces Dedicated Digital Economy Task Pressure Group

  • The job pressure wishes to create virtual equivalents for 42,000 positions.
  • Dubai aims to boost its GDP by 1% by banking around the metaverse potential.

The Dubai government has announced the development of an activity group to watch the newest advances within the digital economy and to benefit from options within the metaverse after assessing key technological trends.

With Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, the crown prince of Dubai, and Sheikh Maktoum Bin Mohammed al Maktoum, the deputy pm of Dubai, attending in a Dubai Council meeting on Thursday, the job force’s establishment was approved.

Banking on Digital Economy Growth

Using metaverse technology, this pressure wishes to create virtual equivalents for 42,000 positions, boost resident surgeons’ productivity by 230 percent, and boost engineering output by 30 %. Based on Oman Bin Sultan Al Olama, Chairman from the Digital Economy Chamber of Dubai, the increasing emirate could “generate business possibilities beyond its physical borders” because the Web3, and also the metaverse evolve.

The shift allows a much better grasp of reality and explore new ideas that can help Dubai, and also the UAE develop a better future whilst optimizing current commercial prospects. A professional committee has started focusing on the primary goals from the Dubai Metaverse Strategy, which would be to raise Dubai’s yearly GDP by 1% and it is economic development by $4 billion by 2030.

It’s believed that by 2025, earnings generated through the metaverse would rise from $180 billion to $400 billion. While identifying obstacles and possibilities for implementation, the committee’s current emphasis is on creating a legal framework that addresses the requirements of all sectors. Using the opening of their MetaHQ earlier this year, Dubai’s Virtual Assets Regulatory Authority (VARA) grew to become the very first regulatory body to head to the quickly growing Web 3. sector.

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