According to reports, virtual space investment and the digital economy are now the focus of a new committee established by Dubai’s crown prince.
Dubai’s Crown Prince and Chairman of the Dubai Executive Council, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, said today that the government has set up a Higher Committee for Future Technology and Digital Economy, which will be led by Sheikh Hamdan.
According to Dubai’s crown prince, the vision of Sheikh Mohammed bin Rashid “solidified the role of Dubai as a leading worldwide centre for creative new ideas and disruptive economic and technical models by employing modern technology in crucial industries to enhance people’s quality of life.”
According to CNN, Sheikh Hamdan described the project as a “global testbed for technology and future business models” with the goal of providing “new economic prospects.”
Dubai’s interest in Metaverse
Sheikh Mohammed bin Rashid Al Maktoum introduced the Dubai Metaverse Strategy earlier this month, with the goal of attracting 1,000 blockchain and metaverse enterprises to the city and supporting 40,000 virtual jobs by 2030.
The United Arab Emirates (UAE) is the newest jurisdiction to make a metaverse-related effort. Before Dubai, it was the Shanghai municipal government that first shared its plan to build a $52 billion metaverse industry by 2025.