H.H. Sheikh Hamdan approves new phase of Dubai Metaverse Strategy

The new phase of the Dubai Metaverse Strategy aims to enhance the digital economy and implement measures to empower the use of future technologies.

The latest phase was approved at the first meeting of the Higher Committee of Future Technology Development and Digital Economy, which was chaired by Dubai's Crown Prince, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

Sheikh Hamdan said the emirate is set to become one of the world’s top digital economies and a leading platform for innovations that can shape the future.

He approved four key strategies aimed at using metaverse technologies to provide government services and a comprehensive study aimed at identifying the social benefits of introducing metaverse services that will be submitted to The Executive Council for approval.

The initiatives also seek to build the skills of talented Emiratis and create a large metaverse community in Dubai that includes metaverse companies, startups, investors and users.

Strategic projects featuring partnerships with private sector players and events aimed at making Dubai a hub for regional and global metaverse-related events, are also part of the plans.

I chaired the first meeting of the Higher Committee of Future Technology Development and Digital Economy. @HHShkMohd’s vision has established Dubai as a global capital for the digital economy. As we prepare for the metaverse world, a new digital future is being shaped by the UAE pic.twitter.com/PjOI2cuaEk

— Hamdan bin Mohammed (@HamdanMohammed) November 24, 2022

In July, Sheikh Hamdan launched the Dubai Metaverse Strategy that aims to turn the emirate into one the world’s top 10 metaverse economies as well as a global hub for the metaverse community.

The Strategy aims to build on Dubai’s achievement of attracting more than 1,000 companies in the fields of blockchain and metaverse.

It also promotes Dubai’s ambitions to support more than 40,000 virtual jobs by 2030.

This is set to further boost Dubai’s economy and support the UAE government’s vision of increasing the number of blockchain companies by five times the present number.