[stock-market-ticker symbols="AAPL;MSFT;GOOG;HPQ;^SPX;^DJI;LSE:BAG" stockExchange="NYSENasdaq" width="100%" palette="financial-light"]

  • Loading stock data...

March 3, 2024

New ‘digital bridge’ to link Dubai and Irish companies

A strategic partnership has paved the way for creating a digital bridge between Dubai and Ireland that will foster ties between businesses and also facilitate their expansion, a report said.

The memorandum of understanding (MoU) was signed in Dubai between Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers and Enterprise Ireland, the Irish government’s trade and innovation agency and the number one VC in Europe by deal count, Emirates News AgencyWAM, said.

The agreement aims to connect companies in Dubai with Irish businesses to promote mutual cooperation and partnerships.

It will create rewarding opportunities for members of Enterprise Ireland, particularly in the fields of technology, manufacturing, and clean energy, as well as environmental, social, and governance practices, a statement said.

In addition, the agreement will strengthen the business, trade, and investment relations between Ireland and Dubai, stimulating economic and commercial ties and enabling Irish companies to expand into markets across the MENA region.

The MoU aspires to create opportunities for small businesses between Ireland and Dubai, especially in the area of digital technologies, while providing a platform for businesses in both markets to explore the potential to increase bilateral exports.

The agreement also seeks to develop a platform for cross-cultural training and capacity building for doing business across different cultures and languages.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “Dubai plays a pivotal role in the global business landscape and serves as a vital gateway for the growth and expansion of companies from around the world.

“The emirate is continuing to consolidate its position as an ideal platform that brings together creative ideas and innovative entrepreneurs – particularly in the field of modern digital technologies – creating more opportunities, building promising partnerships, and developing effective solutions and pioneering projects.

“This partnership between Dubai Chamber of Digital Economy and Enterprise Ireland represents a significant step that will benefit the business communities in both Dubai and Ireland, including small and macro businesses and specialised tech projects.

“By sharing local expertise and exploring mutual opportunities, the agreement will increase the volume of mutual trade and investment and support the growth of the digital economy.”

Leo Clancy, CEO of Enterprise Ireland said: “Demand for Irish innovation in Dubai and across the UAE is high, with exports continuing to rise year on year. Through this agreement with Dubai Chamber of Digital Economy, we aim to collaborate together to facilitate strong connections between Dubai Chamber members and Enterprise Ireland client companies for mutual benefit.

“By focusing on technology, manufacturing, and clean energy, this agreement aligns with our commitment to supporting Irish enterprises in expanding their global footprint. Together, we are unlocking opportunities that will drive growth, innovation, and success for businesses in Dubai and Ireland.”

The MoU was signed at Dubai Chambers headquarters in the presence of Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and Chairman of Dubai Chamber of Digital Economy; Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; and Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy.

Ireland was represented by Minister Dara Calleary, Minister of State for Trade Promotion, Digital and Company Regulation; Alison Milton, Ambassador of the Republic of Ireland to the UAE; and Leo Clancy, CEO of Enterprise Ireland.