Dubai: Dubai’s Department of Economy and Tourism (DET) signed a MoU with Mastercard for a multi-year digital partnership to boost the emirate’s economic growth.
The partnership is in line with the goals of the Dubai Economic Agenda D33 strategy and will allow the emirate to use Mastercard’s multi-rail payments network and data-driven digital commerce technology.
“The MoU provides a conducive environment to deliver scalable and inclusive use-cases of modern payment rails and interoperability,” it was said in a statement.
The partnership will focus on:
Enabling growth of trade and exports: The collaboration aims to enable new international trade opportunities for businesses and expand export capabilities, leveraging Mastercard’s expertise in facilitating secure and efficient payment transactions.
Developing SMEs and enabling innovation: The partnership will prioritise the growth of small and medium-sized enterprises (SMEs), providing them with digital tools, resources, and mentorship to foster innovation, competitiveness, and sustainability.
Attracting and developing talent: Dubai and Mastercard will work together to attract and nurture Emirati and global talents in the digital sector, fostering the development of a skilled workforce equipped with the capabilities necessary to drive the city’s digital economy forward.
Accelerating growth across the tourism ecosystem: The Digital City Partnership aims to leverage digital technologies to further enhance Dubai’s tourism industry. Implementing innovative payment solutions and improving visitor experiences will support Dubai’s vision to become a top-three global destination for visitors across leisure, business and specialised services.
The MoU was signed by Hadi Badri, CEO of Dubai Economic Development Corporation at DET, and J.K. Khalil, Cluster General Manager, MENA East at Mastercard.
“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,” said Hadi Badri, CEO of Dubai Economic Development Corporation at DET. “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.”
