Dubai’s Department of Economy and Tourism (DET) has sealed an MoU with Mastercard for a Digital City Partnership in a bid to transform the Emirates’ economic growth. Dubai has achieved this as a global first at the city level.
The Digital City Partnership will help Dubai enable the growth of trade and exports. It will enable new international trade opportunities for businesses and expand export capabilities, leveraging Mastercard’s expertise in facilitating secure and efficient payment transactions. The partnership will prioritize the growth of small and medium-sized enterprises (SME), providing them with digital tools, resources, and mentorship to foster innovation, competitiveness, and sustainability.
Moreover, Dubai and Mastercard partnership will attract and nurture Emirati and global talents in the digital sector, foster a skilled workforce, and equip it with the necessary capabilities to drive the city’s digital economy forward. The Digital City Partnership will enhance Dubai’s tourism industry. Innovative payment solutions and improved visitor experiences will support the city’s vision to become a top 3 global destination for visitors.
Hadi Badri, CEO of Dubai Economic Development Corporation at DET, said the partnership with Mastercard, a renowned global brand, comes at a pivotal time as they focus to deliver the goals of the Dubai Economic Agenda 2033. “Through this strategic alliance, we are partnering with a global connector of digital payments to further strengthen Dubai’s position as the world’s most connected city. Mastercard has a track record of successful partnerships with companies across a broad range of sectors and segments, and this initiative signifies a new paradigm of economic collaboration at the city level.”
Badri highlighted that Mastercard will mobilize its global resources and extensive experience as a global digital leader to unlock the city’s potential in line with the Dubai Economic Agenda (D33). “This partnership underlines the unique model of collaboration between the government and private sectors in Dubai and aligns seamlessly with the city’s accelerated programmes for economic and digital transformation. The MoU is also a testament to the trust and confidence that multinational corporations have in Dubai and will further boost efforts to position Dubai as the best city in the world to visit, and invest in.”
J.K. Khalil, Cluster General Manager, MENA East at Mastercard, said the company recognizes the limitless potential of partnerships in driving inclusive and sustainable development. “We are forging meaningful collaborations to accelerate digital transformation across the world. Mastercard has a proven track record of supporting governments in digitizing public services, empowering small businesses, fostering talent, and fueling tourism. We are delighted to enter the region’s first Digital City partnership with the Department of Economy and Tourism as we harness the power of our advanced technology to help translate Dubai’s ambitious vision to reality.”
It should be noted that the Digital City Partnership will enhance Dubai’s future readiness by taking advantage of digital technologies and global best practices.
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