Dubai: New government group to strengthen digital asset industry

Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of Dubai Chambers, has announced the formation of the Dubai Digital Assets Business Group (D2A2), which aims to strengthen the digital asset industry’s role in the economic development of the UAE and the wider Middle East region, enhance digital business infrastructure and support the growth of digital companies in Dubai.

Among the key objectives of the new business group are: promoting the digital asset industry in Dubai, boost transparency through market intelligence and data, support the interests and growth of digital asset companies and foster cross-border cooperation.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, Chairman of Dubai Chamber of Digital Economy, emphasized the formation of D2A2 as a strategic move aligned with Dubai Chamber of Digital Economy’s strategy, which aims to fast track the growth of Dubai’s digital economy.

He noted that the group provides an ideal platform for companies operating in the digital asset sphere to unify their voices, address market challenges and align their ambitions, adding that such efforts will accelerate Dubai’s digital transformation, and achieve the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to cement the emirate’s position as a global capital for digital economy.

Al Olama said that the digital economy is the economy of the future on which the pillars of the development process are based, and the D2A2 will be an important reference providing strategic and up-to-date market research data related to the digital asset sector to industry stakeholders, the private sector, policymakers and government entities.

Gaurang Desai, Chairman of D2A2, said: “We see an opportunity to turn Dubai and the UAE into a regional hub for digital assets. That is why it is very important to work towards creating a bridge for the digital asset industry to further integrate into the world economy by cooperating with counterpart organizations across the world. We wish to welcome all experts in the industry to come and join D2A2, to help us spread the principles of accountability, integrity and transparency, and promote the highest professional and ethical standards”.

“D2A2 will reinforce the digital asset industry’s commitment to society by educating the public and developing tools to bolster the access to and advancement of technology for all. It will also support the digital asset industry’s efforts to improve quality, the environment, energy management and investor protection,” Desai added.

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Business groups and councils play a crucial role in promoting and supporting Dubai’s economy as they unify their efforts to ensure a favourable business environment and support the interests of their respective members. Dubai Chamber of Commerce works closely with various business groups and councils in Dubai that operate under its umbrella, to address shared challenges, share their recommendations for improving ease of doing business and providing them access to global growth opportunities.