Dubai Chamber of Commerce has launched six business groups, out of which the e-commerce sector has been designated a separate group.
This means that founders and businesspeople of e-commerce sites can access specialised resources, data and information about the industry.
Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, said: “Business groups are the key to ensuring that the various economic sectors in Dubai are well-oiled machines, particularly for the digital space — an industry that is a cornerstone in Dubai’s economy.
“By providing a forum that facilitates mutual dialogue between the sector’s stakeholders and government entities, the business groups will be able to address policy matters and enhance the competitiveness of their respective sectors.”
The newly established business groups for software services, e-commerce, connectivity, online gaming services and e-sports, marketing and social marketing agencies, and cybersecurity services aim to strengthen the emirate’s digital economy.
With the country’s e-commerce industry growing at a rapid pace, the Dubai Chambers launched a separate business group for the sector.
The sector saw heavy capital investment flows in 2022.
According to Pitchbook, the UAE’s e-commerce industry saw $281.18 million in capital invested in 2022.
Meanwhile, overall supermarket retail sales in the UAE and their e-commerce platforms are set to rise at a current value CAGR of 4 per cent over the forecast period (2021-2026) to reach Dhs19.7 billion, according to Euromonitor International.
Euromonitor International also said that retail sales of traditional groceries are set to rise at a current value CAGR of 3 per cent over the forecast period (2021-2026) to reach Dhs11.4 billion.
Omar Sultan Al Olama, minister of state for artificial intelligence, digital economy and remote work applications, and ahairman of Dubai Chamber of Digital Economy said: “The digital economy is a major pillar in Dubai’s D33 Agenda, with UAE embarking on a new phase in which it seeks to pioneer and sustain the growth of an economy based on knowledge, innovation and future technologies. These business groups come in line with D33’s objectives which include generating new economic value from digital transformation, at an average of Dhs100 billion annually.”
A key goal of the Dubai Economic Agenda (D33) is to double the size of Dubai’s economy over the next decade and consolidate its position among the top three global cities.
For the other five sectors, software services saw $365.4 million in capital invested, gaming saw $159.62 million, e-sports had $1 million in investments, and marketing tech witnessed $30.81 million in capital invested. Capital invested in cybersecurity companies and deals in the UAE for 2021 were accounted at $7.25 million.
