Highlights
- 5% UAE economic growth seen in 2024: Minister
Dubai: Under the patronage of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, the Dubai Press Club (DPC) held the 9th edition of the Emirati Media Forum on Monday.
The event, the UAE’s largest annual gathering of local media personalities, featured the participation of Abdullah bin Touq Al Marri, UAE Minister of Economy, and was attended Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the National Media Office, along with leading media personalities, chief editors of newspapers, heads of television and radio channels, media influencers, as well as prominent academics, writers and opinion-leaders in the UAE.
In her opening remarks, Dr. Maitha bint Essa Buhumaid, Director of the Dubai Press Club, highlighted the forum's role in enhancing the capabilities of local media and bolstering its competitiveness.
As the largest gathering of local media personalities, the forum offers the ideal platform for discussing the sector's current landscape, exploring new prospects for development, and formulating a progressive vision for the future.
Highlighting DPC’s commitment to accelerating media development in the UAE, she said: “Over the years, the Dubai Press Club has played a key role in enhancing the capabilities of media talent through innovative training programmes.
Advancing this strategic objective further, the Dubai Media Council and the UAE Ministry of Economy signed an agreement to launch the ‘Economic Content Creators’ programme, a training initiative aimed at enhancing the impact of financial media.”
Dr. Buhumaid underlined the need for a responsible media aligned with the vision and aspirations of the UAE's leadership. “We want local media to be equipped with the tools and skills required to shape media narratives that wield influence not only locally but also regionally and globally."
“Our national media mirrors the future we envision and narrates the story of the UAE and its ambitious people,” she concluded.
Abdullah bin Touq Al Marri, UAE Minister of Economy, delivered the keynote address at the Forum. In his address, he highlighted the media's crucial role in supporting the development of the UAE's economy and strengthening its stature as a key destination for growth and investment.
The Minister spoke about the UAE’s outstanding economic model, attributing its success to the leadership’s vision, which has enabled the nation to adopt a dynamic, proactive approach that embraces future trends. “The UAE has emerged as a role model for achieving rapid economic growth and established itself as a major partner for global markets and a preferred destination for companies and startups, especially in emerging sectors of the new economy,” he said.
The UAE has outlined a clear roadmap for economic growth over the next decade that places the highest priority on sustainability, Al Marri said.
“The national economy's focus has shifted towards growth opportunities in technology, digital transformation, innovation, research and development, and investment in sectors such as artificial intelligence, renewable energy, financial technology, and space exploration, alongside traditional sectors like tourism and entrepreneurship, all integral to securing the nation's future.”
Flexibility
Acknowledging recent global challenges, including the COVID-19 pandemic and regional and global conflicts, the minister said the UAE adopted a forward-looking and flexible approach to navigate such disruptions.
“The UAE's swift response to these crises was supported by agile economic policies and the development of a pioneering legislative system based on international best practices. These measures made the country’s business environment more competitive both regionally and globally.”
The previous phase saw major amendments to over 10 economic legislations across various sectors, particularly in emerging industries, he noted. Additionally, two new legislations were enacted.
The UAE prides itself on being a model legislative framework designed to safeguard intellectual property rights and foster an environment conducive to creativity and innovation, he said.
Highlighting the most notable achievements and macroeconomic indicators of the UAE economy, the minister said the country’s non-oil GDP surged by 5.9 per cent in the first half of 2023 compared to the first half of 2022, making the UAE the fastest-growing economy in the Gulf and Arab regions.
5% growth projected
Minister Al Marri projected a potential growth of up to 5 per cent for the UAE economy in the current year. Additionally, he highlighted the burgeoning business landscape, with over 788,000 companies operating in the UAE by the end of 2023.
Minister Al Marri also pointed to the significant growth of the tourism sector, with hotel establishment revenues reaching Dh43.5 billion in 2023, a 15 per cent increase from the previous year.
Moreover, the minister noted a remarkable surge in hotel occupancy rates to 75.4 per cent in 2023, reinforcing the UAE’s emergence as one of the world's leading tourism destinations.
FDI
On the investment front, Minister Al Marri highlighted the substantial increase in inward Foreign Direct Investment (FDI), which reached $22.737 billion in 2022, a growth of 10 per cent from the previous year. Furthermore, the UAE recorded the second-highest global increase in new foreign investment projects, experiencing a notable 28 per cent surge in 2023.
Minister Al Marri emphasised that these achievements reflect the UAE's resilient and dynamic economy, which is poised for sustained growth and prosperity in the years to come.
The ninth edition of the Emirati Media Forum also featured a discussion with key media personalities on how the local media sector can take advantage of new opportunities to accelerate its growth in the next phase and develop strategies to keep pace with the rapid evolution of the media environment.
The 9th edition of EMF also generated fresh perspectives on how the local media can play a more significant role in influencing international public opinion concerning critical issues.
‘Economic Content Creators’ Programme
The agreement to launch the ‘Economic Content Creators’ programme was signed on the sidelines of the event by Nehal Badri, Secretary General of the Dubai Media Council, and Abdullah Al Saleh, Undersecretary of the UAE Ministry of Economy.
The programme aims to hone the skills of content creators and journalists in analysing economic and financial developments and raise the quality of the media’s coverage of the economy.
The ‘Economic Content Creators’ programme focuses on several critical areas including analysing economic events and their impact on the local economy, discussing challenges and opportunities in various sectors such as energy, technology and tourism, and examining economic policies and their impact on businesses and consumers.
The programme also encompasses global economic transformations and developments, such as international trade, technological innovation, green economy initiatives and sustainability.
Since its launch in 2013, the Emirati Media Forum has offered a platform for dialogue between players across the local media spectrum. The Forum provides an opportunity to discuss the latest developments in the media industry and serves as a bridge of communication between local media organisations, journalists, experts and specialists across the sector. The Forum also helps local media outlets gain new insights and knowledge on developing the leadership and capabilities required to accelerate growth.
