Dubai - Dubai Chamber of Digital Economy, one of three chambers operating under Dubai Chambers, has released a report detailing plans to boost the emirate's digital economy.

The report projects the national digital economy will reach $140 billion in 2031 from $38 billion today.

The study highlights the importance of the chamber's efforts and collaboration with stakeholders to establish Dubai as the next digital economy capital of the world. The report outlines Dubai's digital economy startups and the emirate's position as a future digital capital.

The Chamber's plans include attracting 300 digital startups and 100 tech experts to Dubai by 2024, improving laws and policies, organising a conference, promoting digital transformation, and enhancing the business environment to attract global digital firms.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Chairman of Dubai Chamber of Digital Economy, said the goal of doubling the contribution of the digital economy to the UAE’s GDP from 9.7 percent to over 20 percent by 2031 reflects Dubai's ambition to be a key tech hub.

He emphasised the importance of building a world-class digital infrastructure and supporting the dynamic startup ecosystem to drive digital transformation and sustainable business growth.

Al Olama also stressed the importance of raising awareness about challenges and future trends and highlighting the role of digital transformation in driving sustainable business growth.