Dubai committed to fostering ecosystem for innovation, ideas, entrepreneurship to thrive: Hamdan bin Mohammed

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H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said today that Dubai is committed to fostering an ecosystem for innovation, ideas and entrepreneurship to thrive. Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate continues to consolidate its position as a leading global hub for talent and enterprise. With a focus on promoting development that can help create a brighter future, Dubai is dedicated to providing an environment where creativity and ingenuity can thrive, he added.

His Highness welcomed Amazon’s announcement that it will showcase the products of 100,000 small and medium enterprises (SMEs) on its UAE store Amazon.ae by 2026.

The move supports the goals of the Dubai Economic Agenda D33 and the objective of the Higher Committee of Future Technology Development and Digital Economy to transform Dubai into one of the world’s top ten digital economies.

His Highness said Dubai has emerged as a prominent hub for digital talent and enterprise and empowered digital economy innovators and entrepreneurs to build a new future for the nation’s technology sector. These developments support the UAE’s digital economy strategy, which seeks to leverage technology to enhance social well-being.

H.H. Sheikh Hamdan bin Mohammed further said initiatives launched in partnership with global technology companies and digital industry leaders combined with the development of SMEs, will enhance the sector’s contribution to the UAE’s GDP by 20 percent over the next decade. This will enhance the UAE’s status as a destination for digital entrepreneurs and a global centre for digital app development.

Amazon, which currently displays the products of 50,000 local and international companies in its UAE store, aims to increase this number to 100,000 by 2026.

The initiative provides an opportunity for local entrepreneurs to reach a wide range of global markets as every new business registered on Amazon.ae is automatically registered in all Amazon stores around the world. UAE companies will have the potential to reach 300 million customers in 19 markets around the world including the US, UK, India, Japan and Singapore.

The initiative, which will facilitate the growth of entrepreneurship and expand the e-commerce sector, will also provide educational resources to companies that will help them sell their products on Amazon. Companies can use the Fulfilment by Amazon (FBA) service to outsource order fulfilment to Amazon. Amazon aims to provide UAE companies with training and qualification opportunities to enable them to enhance their operations and launch applications on digital platforms.

Amazon is a vital partner in the UAE and Dubai’s plan to grow the digital economy and create opportunities for entrepreneurs to leverage cutting-edge e-commerce technologies to expand their business. Dubai’s commitment to fostering a thriving digital ecosystem coupled with partnerships with global companies like Amazon is poised to take the UAE and Dubai’s digital economy to new heights.