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Abu Dhabi Chamber announced as a Strategic Partner for the World Investment Forum 2023

His Excellency Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber.
His Excellency Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber.

15 October 2023 – Abu Dhabi, United Arab Emirates: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) is set to participate in the UNCTAD’s World Investment Forum 2023 as a Strategic Partner. The event, which is one of the world’s largest investment forums, is set to take place in Abu Dhabi for the first time this year. 

The UNCTAD World Investment Forum 2023 is a biennial multi-stakeholder gathering at the level of Heads of States and Governments, CEOs, ministers and heads of international organisations. The Forum is designed to facilitate dialogue and action on the world’s current and emerging investment-development challenges, to drive sustainable economic development. It will be held at the Abu Dhabi National Exhibition Center (ADNEC), under the theme “Investing in Sustainable Development”. 

The Chamber’s participation in the Forum comes in line with its strategic objectives, which centre on exchanging experiences, launching initiatives to enhance the performance of the private sector, and improving the local business sector. The Chamber will also leverage the Forum to contribute to attracting foreign investments to the emirate and driving sustainable economic growth.

As part of the Chamber’s support for the Forum, His Excellency Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, will take part in a session titled “Unlocking Investments in the African, Caribbean and Pacific region through the “Invest in ACP” Platform”. The event aims to introduce the “Invest in ACP” platform to private sector investors, owners, and decision makers in the UAE and the Gulf region, to unlock new investment opportunities in the African, Caribbean, and Pacific region.

The Chamber is also organising five panel discussions as part of the Forum. The panels will see the participation of the Chamber’s industry experts, who will be sharing valuable insights. The sessions will cover a range of topics, including agriculture and food security, investing in times of crises, information and communication technologies (ICT), supply chain management, and green economy.

His Excellency Abdulla Mohamed Al Mazrui, Chairman of the Abu Dhabi Chamber, said: “Our partnership with the UNCTAD’s World Investment Forum highlights the Abu Dhabi Chamber’s commitment to supporting the country’s efforts to enhance the investment and economic landscape in Abu Dhabi’s business community. The Chamber plays a key role in attracting foreign direct investments and promoting initiatives that uncover key opportunities, to achieve prosperity in the Emirate of Abu Dhabi.”

His Excellency added: “Our participation comes as part of our commitment to improving the ease of establishing and doing business in the Emirate of Abu Dhabi. It also demonstrates our dedication to investing in local talent and raising awareness among entrepreneurs and businessmen on the promising and sustainable investment opportunities at a local and global level.”

His Excellency Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, said, “The World Investment Forum provides a global platform for discussing futuristic insights and stimulating joint action. As part of the Abu Dhabi Chamber’s participation in the Forum, we look forward to exchanging experiences with the different participants and highlighting our initiatives, projects, and best practices. In doing so, we contribute to the formulation of global investment policies and strategies, positioning ourselves as a key player in enabling a knowledge-based economy and consolidating Abu Dhabi’s position as an investment and innovation hub.”

“The World Investment Forum presents an exceptional opportunity for exchanging experiences in the business sector, including the latest developments in areas such as investments in the green economy. It also serves as a platform for discussing collaborative approaches to strengthen and establish fruitful investment and trade relations,” His Excellency added.

The eighth edition of the World Investment Forum will bring together more than 7,000 global leaders, decision makers and investment experts from 160 countries to facilitate the exchange of ideas and foster major partnerships.

DBWC Releases Comprehensive Report on Media and Marketing Sectors in Dubai

DBWC Releases Comprehensive Report on Media and Marketing Sectors in Dubai
DBWC Releases Comprehensive Report on Media and Marketing Sectors in Dubai

The Dubai Business Women Council (DBWC) unleashes a report following its
inaugural Industry-Specific Roundtable meeting, an innovative initiative honing in on
pivotal economic sectors.
The report dissects opportunities, hurdles, and growth trajectories within the
dynamic realms of media and marketing. It provides strategic insights into leveraging
cutting-edge media and marketing tools to propel unprecedented development in
these crucial sectors.
Council members, representing the media and marketing sector, engaged in robust
discussions, dissecting the reality, prospects, and challenges gripping the industry.
The outcome? Various innovative solutions and recommendations engineered to
catapult the sector's competitiveness to unparalleled heights.
Participants identified and grappled with increased competition, dynamic shifts in
consumer behaviors, budget constraints, and the looming influence of artificial
intelligence shaping the future of communication. The report doesn't shy away from
addressing the talent acquisition and retention hurdles that the industry confronts
head-on.
Despite concerns about the credibility of certain social media influencers, the report
unapologetically underscores their vital role in Dubai's expansive marketing and
media landscape. Discussions emphasized the transformative role of influencers,
emphasizing the critical need for alignment with a company's brand and values.
Looking ahead, the Dubai Business Women Council remains committed to its series
of dynamic roundtable discussions. The upcoming session, which will be held in
November, will turn the spotlight on the financial services sector, followed by
another session about the technology sector to be held next January.
These roundtable discussions are emblematic of DBWC's broader initiatives to
educate, inform, and empower businesswomen, entrepreneurs, and professionals in

the business community, elevating awareness on topics designed to foster business
development and market analysis skills.

Established in 2002, under the umbrella of the Dubai Chamber of Commerce,
the Dubai Business Women Council is the UAE’s leading platform for the
personal and professional development of business women in the Emirate of
Dubai. It aims to support businesswomen and entrepreneurs taking their first
steps in the world of business. The Council plays a vital role in enhancing the
contribution of businesswomen to the country's economy and promoting
economic development in all sectors of the business community.

Deloitte Middle East Launches Future of Government

Deloitte Middle East Launches Future of Government
Deloitte Middle East Launches Future of Government

Deloitte Middle East announced the launch of the “Future of Government,” a think-tank to support governments to enhance their services and improve the lives of their citizens. The Deloitte initiative brings together the best government and digital transformation experts to re-imagine the future of governments in areas of finance, human resources, procurement, technology, and decision-making.

Muhannad Tayem, Government & Public Services Leader at Deloitte Middle East, said: “This think-tank aims to support governments in the region to channel their vision into practical pathways and solutions to improve the lives of their citizens. This in turn requires developing new ways of working, to re-imagine how processes and policies need to evolve with the accelerating rate of technological advancement, which will have a far-reaching impact in the society, the economy, and the planet.”

The “Future of Government” think-tank brings the best of Deloitte’s expertise, to pioneer the adoption of innovative emerging technology solutions that are tailored for different government needs. The think-tank will outline the roadmap that enables government to adopt new ways of working to continually innovate and stay ahead.

Faisal Darras, a partner at Deloitte Middle East, said: “Our government clients in the region want to lead the way on the latest technology and innovations that make a difference to their citizen’s lives. At Deloitte we look to provide solutions that enable government entities to extract the maximum value from the emerging technologies and by enhancing their cloud computing capabilities, which helps grow their efficiency and productivity.”

WORLD INVESTMENT FORUM 2023: GLOBAL LEADERS GATHER TO UNLOCK SUSTAINABLE DEVELOPMENT FINANCE

WORLD INVESTMENT FORUM 2023: GLOBAL LEADERS GATHER TO UNLOCK SUSTAINABLE DEVELOPMENT FINANCE
WORLD INVESTMENT FORUM 2023: GLOBAL LEADERS GATHER TO UNLOCK SUSTAINABLE DEVELOPMENT FINANCE

The World Investment Forum 2023 brings together over 8,000 participants, heads of state, government ministers, sovereign wealth fund managers, private sector executives, stock exchanges, media, academics, investment treaty negotiators and heads of international organizations in more than 130 events to revitalize investments to meet development needs.

Stakes are high as heads of state, more than 50 government ministers, over 150 CEOs of leading companies and stock exchanges meet next week at the World Investment Forum 2023 in Abu Dhabi, United Arab Emirates (UAE), from 16 to 20 October.

The forum is organized by the UN Conference on Trade and Development (UNCTAD). This edition takes place at a critical time, as developing countries face inadequate levels of investment in achieving the Sustainable Development Goals (SDGs), with an annual gap of more than $4 trillion, according to UNCTAD’s World Investment Report 2023.

UNCTAD Secretary-General Rebeca Grynspan said: “The forum is an opportunity to accelerate action and get more investments to flow into critical development sectors such as health care, food security and climate action. Without more investment, the delivery of the SDGs will be in jeopardy.”

The forum is a biennial multi-stakeholder gathering by these leaders to facilitate dialogue and action on the world’s current and emerging investment-development challenges and is the leading platform to leverage investment policy for sustainable development.

It is recognized by governments and business leaders as the pre-eminent global gathering for investment partnership and policymaking,

This year’s edition will focus on the key investment challenges caused by today’s multiple global crises and revitalizing investment into food security, the transition to low-carbon energy, health systems, supply chain resilience and productive capacity growth in the poorest countries.

On 16 October, Secretary-General Grynspan will officially open the forum with Ahmed Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, in the presence of state and business leaders.

The opening will include a summit connecting investment with sustainable development to mobilize more funding for development sectors.

Speakers will include President Mohammed Shahabuddin of Bangladesh, President Mokgweetsi Eric Keabetswe Masisi of Botswana, President José Ramos-Horta of Timor-Leste, President Faure Essozimna Gnassingbé of Togo and chairman of the cabinet of ministers of Kyrgyzstan, Akylbek Zhaparov.

Spotlight on climate action towards COP28

Another summit will highlight investment solutions that will feed into negotiations at the 28th UN climate change conference (COP28) scheduled which will take place in Dubai late November and December in Dubai.

Forum participants will agree on actions to boost clean energy investments in developing countries, which face an investment gap of $2.2 trillion annually for the transition to low-carbon energy, according to the UNCTAD World Investment Report 2023.

Secretary-General Grynspan will lead discussions with Sultan Ahmed Al Jaber, COP28 President-Designate, UAE Special Envoy for Climate Change, and Minister of Industry and Advanced Technology and speakers from the private sector.

‘Game changers’ summit

On 17 October, the forum will feature a “game changers” summit with trailblazers, visionaries and leaders who are disrupting traditional paradigms, driving transformative change across sectors including energy, food, waste and environmental management, emphasizing inclusivity, circularity, digitalization and low-carbon solutions.

The summit will examine how to accelerate the global energy transition, improve health-care quality, access and affordability, enhance food production and distribution through technology and tackle inequality while promoting decent work.

 

Dubai Internet City returns to GITEX Global 2023 to foster collaborative innovation

Dubai Internet City returns to GITEX Global 2023 to foster collaborative innovation
Dubai Internet City returns to GITEX Global 2023 to foster collaborative innovation

Dubai, UAE, 12 October 2023: Dubai Internet City, a member of TECOM Group PJSC, is returning to GITEX Global 2023 as Innovation Partner for the world’s largest tech event.

GITEX Global 2023, due to be held on 16-20 October at Dubai World Trade Centre, will unite inventors, academia, researchers, and developers from around the world across 10 co-
located events addressing themes including artificial intelligence (AI), cybersecurity, mobility, and future urbanism.
With a strong focus on emerging tech trends and innovation, Dubai Internet City’s pavilion at GITEX Global 2023 will be a hub for the world’s brightest minds using technology including AI and augmented reality to solve the world’s most complex problems.

As a founding member of Dubai’s thriving digital sector, Dubai Internet City has supported regional economic diversification efforts and strengthened the local knowledge-based economy for over two decades by attracting top industry investors and innovators to Dubai.

Commenting on behalf of Dubai Internet City, Ammar Al Malik, Executive Vice President – Commercial at TECOM Group, said: “Mitigating barriers to innovation and promoting collaborative research and development can pave the way for technology-based solutions that help to safeguard future global economic growth.

“As a vanguard of tech innovation in the region, Dubai fosters business-friendly regulation and strategic support through programmes like Dubai Economic Agenda ‘D33’ and Dubai Digital Strategy, helping to unite world-leading technology leaders for profoundly impactful breakthroughs.
Dubai Internet City is a prime custodian of Dubai’s vision to nurture collaborative innovation that uses technology to address the most critical trends reshaping global society and economy.

Our ecosystem will continue to connect the world’s biggest tech brands with the industry’s most ambitious innovators.”
A journey through AI Attendees can expect to engage with experts and innovators based within Dubai Internet
City through networking opportunities and live demonstrations of the latest tech offerings from the district.

Additionally, visitors to Dubai Internet City’s stand at GITEX Global 2023 will be invited to take on an AI-powered programmed robotic arm to compete in a high-stakes interactive
checkers game. The interactive experience will be presented as global tech enthusiasts continue to explore how AI stacks up against human intelligence.
For an immersive experience, guests will also be guided to a ‘secret door’ inviting them into a world brought to life by actors and performers from Dubai Internet City.
Dubai Internet City’s pavilion will be located at Concourse 2 of Dubai World Trade Centre.
The GITEX Global Media Centre, presented in collaboration with TECOM Group, will be.

European Investment Bank pledges €1 billion for Morocco’s earthquake recovery efforts

European Investment Bank pledges €1 billion for Morocco’s earthquake recovery efforts
European Investment Bank pledges €1 billion for Morocco’s earthquake recovery efforts

The European Investment Bank (EIB) has pledged €1 billion over the next three years to Morocco’s post-earthquake reconstruction programme which will mobilise €12 billion by 2028.

This financing is completely aligned with Morocco’s ambitious national recovery programme according to the priorities of the national authorities.
The announcement was made by EIB’s Vice-President, M. Ricardo Mourinho Felix, after meeting with M. Fouzi Lekjaa, Morocco’s Vice-Minister overseeing the budget. On the margins of the World Bank Group-IMF Annual Meetings in Marrakesh. Also present were Lionel Rapaille, EIB’s Director of Operations for EU Neighbouring Countries, and Adrien de Bassompierre, the EIB representative in Morocco.

The EIB’s contribution is underpinned by a vision of resilience and sustainability. Funds will be used to repair damage from the earthquake and rebuild better, with a focus on resilient and sustainable infrastructure, leveraging the Bank’s resources and expertise.

“As a long-standing partner of Morocco, we aim not just to rebuild what was lost, but also to contribute to laying the foundations for a brighter, stronger and more resilient future across all the regions in Morocco affected by the September earthquake.” said EIB Vice-President Ricardo Mourinho Félix, who is responsible for financing in Morocco. “Our role as the EU bank is not just about providing financing, it is also a strong commitment to advancing development, and supporting resilience and climate action hand-in-hand with our partners.”

Transformational tech shifts at world’s largest start-up event in Dubai

Transformational tech shifts at world’s largest start-up event in Dubai
Transformational tech shifts at world’s largest start-up event in Dubai

Dubai, UAE: 12 October 2023: India’s burgeoning entrepreneurial spirit and proliferation of next-gen deep tech talent will take centre-stage next week in Dubai, as the world’s largest start-up event prepares to host the biggest showcase of Indian start-ups ever seen outside the south-central Asian nation.

Hosted by Dubai Chamber of Digital Economy, one of the three chambers under the umbrella of Dubai Chambers, Expand North Star 2023 together will feature more than 1,800 exhibiting start-ups from 100-plus countries at its new Dubai Harbour venue from 15-18 October. This includes 200 breakthrough Indian companies choosing the emirate as their launchpad to scale up globally.

From international award-winning Google accelerated gaming innovators, to producers of de-carbonised protein for the US$500 billion animal feed industry, game-changers from the world’s third-largest start-up ecosystem are gathering in Dubai to woo investors and secure customers for global expansion.

Sustainable Agri-tech the formidable foundation of future commerce

Among the pioneering start-ups at Expand North Star’s new India Central feature is Noval Sustainability, which is launching DE-Carbon, an animal feed protein recycled from waste that, according to Founder Siva Sanker, is formulated to substantially reduce the environmental footprint of the carbon-heavy feed and meat industries.

“We will showcase the tech behind recovering protein from waste,” said Sankar, who will demonstrate at Expand North Star how Noval Sustainability’s manufacturing process decarbonises one of the world’s largest and most-polluting industries.

“The world wastes more than 30 percent of the food that is produced, and the same
ratio holds for the amount of proteins wasted from meat consumption. We are bridging the gap with a solution, and there’s a humongous untapped economic value in this waste. With an inclusion of just one percent of alternative proteins in animal feed, we’re looking at a US$500 billion industry.”

Scaling-up through deep tech immersive gaming

Elsewhere, investors in the US$300 billion gaming industry will see a fresh injection of deep tech gaming platforms, spearheaded by Tuttifrutti Interactive’s Sophia’s Adventures fantasy themed game that uses cinematic quality Unreal 5 Nanite technology.

Ajish Habib, CEO of Tuttifrutti Interactive, a Google-accelerated, Epic Games Mega Grant recipient, and winner of 15 international awards, said Sophia’s Adventures alpha version will redefine the female gaming market, propelling the company, and potential seed angel investors, to exponential growth.

“With its official launch for Sony PlayStation and VR2 market, Tuttifrutti will grow a minimum four times by 2025, and with an upcoming half a dozen IP games, we’ll scale-up over 165 times by 2028, targeting revenues of US$80 million,” said Habib.

“Immersive game tech coupled with AI and deep tech will revolutionise the gaming market, and we’re leveraging AI in all aspects in our product development, from designing game emotions, and fine-tuning design, to marketing, and customer acquisition.”

Unveiling growth roadmaps

Manifested through its power-packed conference programme, Expand North Star will present key Indian unicorn founders will unveil the critical global growth path to unstoppable success.

Headliners include Bhavish Aggarwal, CEO & Co-Founder of Ola Cabs & Ola Electric, India’s largest ridesharing company with over 1.5 million drivers; and Abiraj Singh Bhal, CEO & Founder of Urban Company, a Series F $2.8 billion company offering the largest home services platform in India and UAE.

Expand North Star’s 10X Stage will also feature Rajan Anandan, Managing Director of Peak XV and Surge, a rapid scale-up programme for start-ups in India and Southeast Asia. Anandan is focusing on developing Surge into the world’s top scale-up programme for start-ups by acting as an investment advisor and mentor to the programme’s founders. He will share his visions for India’s booming start-up ecosystem for 2023 and beyond.

Forging deep cross-border economic ties to accelerate growth

Ballooning to nearly double that of the previous year, Indian participation at Expand North Star 2023 comes as the UAE and India continue to amplify bi-lateral trade and investment opportunities.

Under the Comprehensive Economic Partnership Agreement, the UAE and India plan to double the value of non-oil trade from 2023 to 2030, reaching US$100 billion. According to Dubai Chambers, 30 percent of the emirate’s start-ups are Indian-owned, while 83,000 Indian companies are registered in Dubai.

Indian firms and non-resident Indian owned entities have also created more than one million UAE jobs. 

Expand North Star 2023 will intensify these achievements, convening more than 1,000 tech investors and Venture Capitalists from 70 countries with US$1 trillion of capital to inspire, and scale-up the world’s most sought-after start-ups.  

Expand North Star is the powerhouse start-up event inspired by GITEX GLOBAL, the world’s largest tech show, which takes place from 16-20 October at the Dubai World Trade Centre (DWTC). The blockbuster duo, organised by DWTC, are spearheading the world’s biggest tech takeover in Dubai, spanning 2.7 million sq. ft. of exhibition space – a 40 percent increase over the previous year. 

Completion of the subscription process for Arab Bank’s sustainable loan bonds with great success

Completion of the subscription process for Arab Bank’s sustainable loan bonds with great success
Completion of the subscription process for Arab Bank’s sustainable loan bonds with great success

Arab Bank announced the successful issuance of USD 250 million in Additional Tier 1 (AT1)
Capital Securities. The milestone marks the first sustainable perpetual AT1 issue in Jordan.
The bond, which was issued through a private placement, is listed on the International Securities
Market (ISM) and the Sustainable Bond Market of the London Stock Exchange. The bond,
which offers investors an interest rate of 8%, attracted a diverse group of investors, including
large institutional and individual investors from Jordan and several other countries where Arab
Bank operates.
The issuance is intended to further strengthen the bank’s capital base and diversify its sources of
funding, to support its future plans for regional growth and expansion.
Arab Bank’s Chairman Sabih Masri expressed his gratitude towards investors and stated: "The
overwhelming demand for this issuance, which exceeded the issue size, underscores the deep-
rooted confidence that local and regional investors bestow upon Arab Bank.” He also extended
his sincere thanks to the Central Bank of Jordan and Jordan Securities Commission for their
instrumental support.
“We are proud to receive such a strong vote of confidence from investors in response to this
significant issuance” commented Ms. Randa Sadik, Arab Bank’s CEO. The proceeds of the
issuance will be used to finance a portfolio of qualified sustainable projects, in line with Arab
Bank’s strategy to integrate Environmental, Social and Governance (ESG) principles across the
organisation.
"In the upcoming period, we anticipate further initiatives, which will further boost the bank’s
performance across the various business sectors” Ms. Sadik added. “Our emphasis will remain
on expanding into new markets, diversifying our revenue streams and continuing to provide
comprehensive banking services and solutions, supported by integrated digital platforms and
channels."
Arab Bank, headquartered in Amman Jordan, was established in 1930 and currently has one of
the largest global Arab banking networks with over 600 branches spanning five continents and
covering key financial markets and centres. Earlier this year, Arab Bank was named the “Best
Bank in the Middle East for 2023” by Global Finance magazine for the eighth consecutive year.

Step into the Wild! TECOM Group Presents Exciting Escape Room Adventure in Dubai to Raise Climate Awareness

Step into the Wild! TECOM Group Presents Exciting Escape Room Adventure in Dubai to Raise Climate Awareness
Step into the Wild! TECOM Group Presents Exciting Escape Room Adventure in Dubai to Raise Climate Awareness

Dubai, UAE, 10 October 2023: Hold onto your hats, eco-warriors: TECOM Group PJSC, the mastermind behind Dubai’s most vibrant business districts, is teaming up with the Environment Agency – Abu Dhabi (EAD) and Emirates Nature-WWF to unveil an epic escape room experience like no other – the Escape Climate Change – Mangrove Edition escape room.
Get ready to embark on a thrilling journey to boost climate awareness and action, all in the spirit of the ‘Year of Sustainability,’ leading up to the 2023 United Nations Climate Change Conference (COP28).

Dubai Media City: Where the fun begins
This escape room adventure is part of EAD’s and Emirates Nature-WWF’s commitment to achieving the UAE’s national sustainability goals by adopting ‘nature-based solutions’ to tackle societal challenges. The mission? To raise awareness about the complexity and severity of climate risks and provide pathways for you to join the fight against climate change.
Mark your calendars for 12-13 October when the Escape Climate Change – Mangrove Edition escape room kicks off the new season of its nationwide tour at Dubai Media City, the beating heart of the regional media industry. After this exciting debut, the escape room will hit the road, inviting thousands of residents across the UAE to discover the wonders of mangroves while diving deep into global climate conversations.
H.E. Dr Shaikha Salem Al Dhaheri, Secretary General of the Environment Agency – Abu Dhabi (EAD), said: “Initiatives like the ‘Escape Climate Change – Mangrove Edition’ Escape Room provide a pathway for UAE youth and the community to understand the science and complexity involved in building climate resiliency, empowering them to step up and make greater contributions towards climate and nature, through citizen science and volunteerism.”

“Immersive physical experiences can transform abstract concepts into palpable, memorable learning moments,” said Majed Al Suwaidi, Senior Vice President of Dubai Media City, part of TECOM Group PJSC. “We are delighted to partner with EAD and Emirates Nature-WWF to host the Escape Climate Change – Mangrove Edition escape room, which will not only excite and thrill visitors but also strengthen their environmental knowledge and awareness in the UAE’s Year of Sustainability.”
“The Escape Climate Change – Mangrove Edition escape room delivers an immersive experience, designed to inspire greater interest in the climate-nature crisis and motivate participants to be part of the solution,” said Laila Mostafa Abdullatif, Director General at Emirates Nature-WWF. “We welcome all participants to join the Leaders of Change community, through which they can participate in conservation field trips and help implement Nature-based Solutions on the ground.”
Empowering with education
Buckle up for an innovative and educational escapade: the Escape Climate Change – Mangrove Edition escape room is designed to ignite climate resilience and inspire community engagement in conservation. And the best part? It’s open to everyone – adults and kids alike! The escape room’s tour will continue to Dubai Science Park, TECOM Group’s buzzing science-focused community, as it hosts the annual WeWalk charitable walkathon on 18 November.
The escape room offers more than just excitement – it is an opportunity for people of all ages to learn firsthand about the science of climate adaptation, using the incredible powers of mangroves. But that’s not all – visitors will also be invited to take meaningful climate action by signing up to join nature-based activities and become citizen scientists through EAD’s and Emirates Nature-WWF’s ‘Sahim’ programme and Emirates Nature-WWF’s ‘Leaders of Change’ platform. These initiatives empower the community to make a difference by contributing to conservation research and decision-making, and by gathering valuable data about local species and habitats.
Enabling sustainability
Dubai Media City and Dubai Science Park are part of TECOM Group, which has been developing strategic, sector-focused business districts across Dubai since 1999, including communities like Dubai Internet City, Dubai Design District (d3), Dubai Studio City, and Dubai Knowledge Park.
Dubai Media City is the regional epicentre for the media and communications industry and amplifies the reach of climate action awareness and advocacy. Dubai Science Park, meanwhile, is a testbed for how the fusion of science and sustainability under one roof sparks research, innovation, and solutions that benefit the world at large.

The metaverse could reach up to $900 billion by 2030 but will take time to scale, finds Bain & Company

The metaverse could reach up to $900 billion by 2030 but will take time to scale, finds Bain & Company
The metaverse could reach up to $900 billion by 2030 but will take time to scale, finds Bain & Company

Dubai, United Arab Emirates, October 11, 2023—Despite recent headlines that “metaverse-hype” is dying down, new research released recently by Bain & Company shows the metaverse could reach up to $900 billion dollars by 2030—though it may remain in the seed stage for at least another five to 10 years.

Bain’s report, Taking the Hyperbole Out of the Metaverse, concludes that the metaverse poses real and growing economic opportunities for businesses. Companies that engage in the metaverse’s early stages of development, known as the “seed stage,” over the next five to 10 years, are more likely to become the market winners.

“As the metaverse quickly evolves, we’ve already seen these types of technologies take hold within different industries,” said Chris Johnson, a partner in Bain’s Technology practice.

“A good example of this is immersive gaming platforms, which are already boasting hundreds of millions of monthly active users. And while it’s not immediately clear how the metaverse landscape will shift, our research shows there are five competitive battlegrounds that executives should be considering if they wish to get ahead and eventually scale. This is an ongoing journey toward more immersive and collaborative experiences, enabled by rapid improvements in the underlying technology.”

The metaverse is – and will be — plural
As consumer and enterprise applications become increasingly immersive and collaborative, Bain’s report finds it’s unlikely that the metaverse will emerge as one singular platform. Instead, platforms with large user bases today may take steps to become increasingly immersive and engaging, while smaller, metaverse-like environments will try to attract bigger user bases. These virtual worlds are likely to remain independent silos as private companies seek to recoup their investments by leveraging the value of the underlying data sets.
“Today, a mix of metaverse strategies exist, from companies with a vertically integrated approach that spans multiple segments of the metaverse technology stack to those with a horizontal strategy that focuses on a single layer of the stack,” said Moncef Maghrebi, Partner at Bain & Company Middle East. “It remains to be seen which will prove to be most effective as the market develops and the shape of the ecosystem (vertical vs. horizontal) is likely to evolve over time.”
Industries that have since exhibited the use of metaverse-type technologies include but are not limited to: entertainment, manufacturing, healthcare, education and employee training.

Five key competitive battlegrounds that executives should consider if they want to gain market share in the metaverse according to Bain include:
Virtual experiences (forecast by Bain to be about 65% of metaverse projected market size in 2030). Although gaming is currently the leading consumer metaverse application, immersive fitness and entertainment could also be compelling in the medium term. On the enterprise side, innovative use cases are emerging, primarily in collaboration and productivity, but also in digital marketing, employee training, education and healthcare.
Content-creation tools (about 5% of metaverse market size in 2030). There’s a growing field of software tools that provide the building blocks, editing platforms and interfaces for creating metaverse worlds and experiences. These features make it easy for users to generate content.
App stores and operating systems (about 10% of metaverse market size in 2030). The app store role will be crucial during the metaverse’s seed stage, providing users with curated, high-quality experiences to keep them engaged with the platform and headset they use to access the metaverse.
Devices (about 10% of metaverse market size in 2030). Significant technological barriers must be overcome before the arrival of comfortable, stand-alone devices that allow for truly immersive experiences. To achieve mass adoption, metaverse content will need to work across all types of devices- including, for the foreseeable future, personal computers, gaming consoles and smartphones.
Computing and infrastructure (about 10% of metaverse market size in 2030). Hardware companies will face pressure to develop higher-performing chips, servers and networking technologies to render high-quality graphics and reduce latency.