Its contribution to GDP was 4.3% in 2019 and UAE is aiming to double that
Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has approved the UAE's action plan on artificial intelligence and digital economy.
During a meeting held Monday, Sheikh Mohammed said that the contribution of the digital economy was at 4.3 per cent of GDP in 2019, something which promoted the government to appoint a full-time minister to follow up on the sector and double its contribution.
"The digital economy has proven its efficiency and significance, especially during the ongoing global health crisis," Sheikh Mohammed said. “The digital economy does not need huge facilities or enormous material resources - it only needs minds, ideas and imaginations.
"The future will bring about many changes in the health, education and trade sector, and we must be ready and prepare for such changes from today."
Speaking on the government's immediate priorities, Sheikh Mohammed said: "Our next priorities are to boost the contribution of the digital economy to our national economy, promote the smart infrastructure in the country, enhance digital readiness, and ensure business continuity in the UAE government under any circumstances."
During the meeting, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, briefed Sheikh Mohammed on a comprehensive plan that focuses on providing tools and infrastructure to support the UAE’s leadership in anticipating and preparing for global changes.
Future plans for the digital economy sector will focus on developing financial cooperation, the freelance economy, digital markets, and digital content.