EDB Connect – Dubai Edition: Driving Sustainable Economic Development in the UAE, United Arab Emirates

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Emirates Development Bank (EDB), in partnership with the Ministry of Industry and Advanced Technology, recently hosted EDB Connect – Dubai Edition, a forum dedicated to driving sustainable economic development in the UAE. The event brought together government officials, industry leaders, and representatives from the banking sector to discuss efforts and industry trends that impact the future of Dubai’s economy.

Under the theme Financing for Development: Enabling Dubai’s D33 Ambitions, the one-day event focused on fostering collaboration between government entities and private sector companies to support the UAE’s national economic growth and diversification goals. The discussions centered around the latest industry trends and opportunities for sustainable economic development in Dubai.

Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, highlighted the success of the strategic partnership between the ministry and EDB, noting the increased levels of technology adoption and industrial development in the Emirates. Last year, the industrial sector contributed over AED 180 billion to GDP, with industrial exports totaling AED 174 billion.

Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, emphasized the bank’s commitment to supporting Dubai Economic Agenda’s (D33) aim of positioning the emirate as one of the top three global cities in the world. He introduced EDB Connect as an ongoing series that engages with key players in the UAE’s economic diversification efforts, bringing together strategic partners to contribute to inclusive and sustainable economic development across the country.

The first edition of EDB Connect focused on addressing challenges and exploring strategic solutions for long-term sustainable transformation projects aligned with Dubai’s economic ambitions. By exchanging knowledge and fostering partnerships through platforms like EDB Connect, the bank aims to drive innovation in finance, empower SMEs, and contribute to the UAE’s sustainable development.

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H.E. Al Suwaidi stressed the importance of the Make it in the Emirates initiative in accelerating Dubai Economic Agenda goals. He called for a proactive response from private sector companies to enable industrial growth and support the emirate’s economic vision. The initiative aims to attract local and international industrialists, innovators, and investors to benefit from the UAE’s competitive advantages and contribute to its industrial journey.

EDB’s CEO highlighted the key features of Dubai Economic Agenda, which includes 100 transformational projects. The agenda aims to double the size of Dubai’s economy to AED 32 trillion over the next decade and enhance its global trade connections. The event included three focused sessions on scaling up financing for sustainable development investments, the impact of public-private partnerships on economic growth, and the role of banks in catalyzing SME growth.

EDB Connect – Dubai Edition concluded with an appreciation award ceremony, where EDB recognized its strategic partners in Dubai for their contributions to the UAE’s sustainable development and Dubai’s D33 economic agenda.

Overall, EDB Connect – Dubai Edition provided a platform for dialogue and collaboration among key stakeholders, aiming to drive sustainable economic development in Dubai. The event highlighted the importance of partnerships between government entities and the private sector to achieve the country’s economic goals and position Dubai as a global business and investment hub. Through ongoing initiatives like EDB Connect, the UAE aims to foster innovation, attract investment, and ensure inclusive and sustainable economic growth.

Frequently Asked Questions (FAQs) Related to the Above News

What is EDB Connect - Dubai Edition?

EDB Connect - Dubai Edition is a forum organized by Emirates Development Bank (EDB) and the Ministry of Industry and Advanced Technology (MoIAT) to promote collaboration between government entities and private sector companies.

What was the theme of the event?

The theme of the event was Financing for Development: Enabling Dubai's D33 Ambitions. It aimed to explore opportunities for sustainable economic development in Dubai and discuss the latest industry trends.

Who attended EDB Connect - Dubai Edition?

The event brought together government representatives, industry stakeholders, and prominent business leaders from various sectors, including the banking industry.

What were the key topics discussed during the event?

The event featured three focused sessions on financing sustainable development investments, the impact of public-private partnerships on economic growth, and the role of banks in supporting the growth of SMEs.

What were some of the challenges addressed during the discussions?

The discussions highlighted the financing challenges faced by SMEs and foreign investors in Dubai. Participants also emphasized the importance of public-private partnerships and explored opportunities in areas such as sustainability, food security, artificial intelligence, and biotech.

Was there any recognition or appreciation given during the event?

Yes, EDB presented appreciation awards to its strategic partners in Dubai for their efforts towards sustainable development and Dubai's economic agenda.

What is the role of Emirates Development Bank in the UAE's economic development?

Emirates Development Bank plays a crucial role as the key financial engine for economic development and industrial advancement in the UAE. It aims to foster partnerships, drive innovation, and empower SMEs to contribute to the country's sustainable development.

What is the significance of EDB Connect in the UAE's economic diversification efforts?

EDB Connect is part of a series of forums that aim to engage key players in the UAE's economic diversification efforts. It provides a platform for meaningful dialogue, collaboration, and the exchange of knowledge to drive sustainable economic development in Dubai.

What is the ultimate goal of the UAE in terms of economic development?

The UAE aims to position Dubai as one of the top three global cities in the world and create a world-class economy. By leveraging the expertise and resources of various entities, the country strives to achieve its ambitious economic goals and drive sustainable economic development.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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