Local Business

UAE e-commerce market to exceed $5b by end of ’15

Ahmed Shaaban (senior Reporter)
Filed on March 17, 2015
UAE e-commerce market to exceed $5b by end of 15

Digital economy is a top priority of economic planning: Al Mansouri

Sultan bin Saeed Al Mansouri, the UAE Minister of EconomyRas Al Khaimah — The value of the UAE e-commerce market is expected to exceed $5 billion by the end of 2015, reflecting the advanced technological infrastructure in the country, according to a top official.

“The UAE is also projected to seize the third rank for total e-commerce business in the Mena region,” said Sultan bin Saeed Al Mansouri, the UAE Minister of Economy.

Addressing the ‘Impact of e-Economy on the development of Mena region’ conference, Mohammed Saleh Shalwah, the adviser to the minister of economy, said the UAE’s future ambitions know no limit as directed by its leadership.

The three-day congress, which concluded on Monday, was organised by the Department of Economic Development in Ras Al Khaimah, in collaboration with the Ministry of Economy, under the patronage of His Highness Shaikh Saud bin Saqr Al Qasimi, Member of Supreme Council and Ruler of Ras Al Khaimah.

Present were Shaikh Ahmed bin Saqr Al Qasimi, Chairman of the RAK Customs and Ports department and Chairman of the RAK Free Zone, Shaikh Mohammed bin Kayed Al Qasimi, Chairman of the Department of Economic Development in RAK, along with top officials, professors, economic experts, businessmen, investors and dignitaries.

Al Mansouri said as per the UAE’s Vision 2021, the non-oil sectors are forecast to post real growth of five per cent, apart from the country holding the tenth position globally in regards to the per capita income, inflow of foreign investment to constitute five per cent of the GDP while Emiratisation is to be boosted in the private sector.

Al Mansouri added that the national economy is to rank first for the easiness and flexibility of practising business, let alone seizing advanced positions in the global indexes of entrepreneurship, creativity and knowledge personnel, and doubling expenses on scientific research.

“The UAE, having already met the requirements of the phase of e-government by enacting an integrated and advanced system of legislations, building advanced infrastructure and employing competent HR resources, has set a quantum leap in mGovernment, offering a package of smart services accessible to customers round the clock from anywhere.”

He said the UAE, as per international reports, has also seized advanced positions in the index of ICT development.

“The International Telecommunication Union, in its 6th information society 2014 report, has classified the UAE among the most dynamic countries, especially after reporting beyond average progress in the overall standings of the ICT Development Index last year issued by the World Economic Forum, which included 148 countries.”

The ministry has automated most services which are all nearly available as apps on cellphones and tablets as per the directives of the UAE’s leadership.

Shaikh Mohammed bin Kayed Al Qasimi said the UAE, having set 2015 as the year of innovation, shows a firm will to join the world e-economy and achieve economic and social prosperity. “The digital economy has become one of the top priorities of economic planning, whether in public or private sectors which are competing in adopting, developing and providing smart services.”

— ahmedshaaban@khaleejtimes.com

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