Ministry of Economy Announces Metaverse HQ

  • Publish date: Thursday، 29 September 2022
Ministry of Economy Announces Metaverse HQ

UAE launched the Ministry’s headquarters in the metaverse today at the Dubai Metaverse Assembly, organised by Dubai Future Foundation (DFF).

The Ministry of Economy’s third office would offer an immersive experience for governments, global corporations and the public to connect and collaborate.

It will also be equipped with advanced technology for the Ministry to sign bilateral agreements with other nations in the metaverse, bolstering the UAE’s ability to become a global hub for next-generation technologies.

The country has continued to exert tremendous efforts to enhance the economic contribution of advanced technology under plans aims to double the size of the national economy by 2031.

UAE's new economic models aim to provide metaverse education to ensure the UAE becomes a hub to develop pioneering web 3.0 technologies and applications. With analysts expected the web 3.0 market to reach a valuation of US$80 billing by 2030.

Bin Touq participated in a panel discussion on the economic opportunities of the metaverse. He was joined by Bashar Kilani, Managing Director, Accenture; Mark Zaleski, Managing Director and Partner, BCG Digital Ventures; and Karl Tlais, Founder and Strategic Advisor of iAdvisor.

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