UAE: Ministry of Economy joins metaverse, unveils headquarters

The UAE’s Ministry of Economy has joined the list of government and business organizations owning metaverse real estate.

On Wednesday, Minister Abdulla bin Touq Al Marri showcased the Ministry’s metaverse headquarters during the Dubai Metaverse Assembly.

The Minister presented the new headquarters during a panel session in the first-of-its-kind Assembly.

According to Al Marri, the metaverse headquarters would be the Ministry of Economy’s third office, providing an immersive experience for governments, global enterprises, and the general public to communicate and collaborate.

“The virtual government office would also be equipped with advanced technology for the Ministry to sign bilateral agreements with other nations in the metaverse. It will bolster the UAE’s ability to become a global hub for next-generation technologies,” the Minister stated.

According to Al Marri, the metaverse is an economic equalizer, affecting critical industries ranging from logistics to real estate.

“With advanced physical and digital infrastructure, the UAE can build on its position as a gateway for global trade to become a digital export centre and a leading metaverse economy,” said the Minister

The Dubai Metaverse Assembly is the first event of its sort since Dubai’s Crown Prince, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, introduced the Dubai Metaverse Strategy in July.

The strategy seeks to add $4 billion to Dubai’s GDP, support 40,000 virtual employment by 2030, and recruit 1,000 blockchain and metaverse technology companies to make Dubai one of the world’s top ten metaverse economies.

The digital twin will mirror its headquarters’ physical structure, systems, real-time tracking parameters, and data. BKM/ Expat Media

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