Emirates Development Bank (EDB) has announced a major achievement, with its total financing reaching $3.51 billion by the third quarter. This milestone was celebrated at the fifth EDB Connect forum at Dubai’s iEtihad Museum. The event brought together leaders to discuss how strategic partnerships can drive Dubai’s sustainable growth and economic future.
A Forum for Future-Forward Collaborations
The EDB Connect forum was organized in partnership with the Ministry of Industry and Advanced Technology’s “Make it in the Emirates” initiative. It served as a vital platform for government officials and private sector leaders to explore new avenues for growth.
The theme, “Beyond the Horizon: Unlocking Dubai’s Sustainable Future Through Unconventional Collaborations,” set the stage for insightful discussions. The event’s agenda was designed to tackle key areas essential for Dubai’s next phase of development.
- Impact Investing: Exploring how to attract and utilize funds for projects with positive social and environmental outcomes.
- Advanced Manufacturing: Focusing on strategies to make Dubai a global leader in high-tech production.
- Artificial Intelligence: Discussing AI’s role in boosting efficiency and creating new business opportunities.
These sessions aimed to highlight how Dubai’s advanced, tech-friendly infrastructure can strengthen its position as a major manufacturing and export hub on the global stage.
Strategic Investments Powering Dubai’s Economy
Since April 2021, EDB has been a key player in the UAE’s economic diversification. The bank has strategically invested a total of AED 12.9 billion in crucial projects. Of this amount, a significant AED 4.4 billion has been channeled directly into Dubai’s priority sectors.
These investments are not just numbers; they are crucial for boosting the UAE’s GDP and promoting long-term sustainable development. The funds are carefully allocated to sectors that promise high growth and innovation.
| Sector | Investment (AED Billion) |
|---|---|
| Advanced Manufacturing | 1.5 |
| Artificial Intelligence | 1.2 |
| Impact Investing | 1.7 |
| SMEs Development | 0.9 |
Ahmed Mohamed Al Naqbi, the CEO of EDB, stressed the importance of the forum. He stated that it provides a necessary space to discuss economic trends and government incentives that help businesses and SMEs on their growth journeys.
Spotlight on Innovation and Growth
The forum featured three distinct panel discussions that shed light on Dubai’s future economic landscape. The first panel focused on establishing Dubai as a global hub for impact investing, leveraging its unique strategic and economic advantages.
A second panel explored how to transform Dubai into an advanced manufacturing powerhouse. The discussion centered on fostering local innovation and adopting cutting-edge technologies. The final panel examined the role of artificial intelligence as the engine of the modern economy, detailing how AI can dramatically improve business operations.
Adding to the forward-looking discussions, Dr. Yasar Jarrar, an AI expert, delivered a powerful TED Talk-style presentation. His session, titled “Scaling Up: Charting the Growth Journey of Dubai’s SMEs,” provided deep insights into how AI is already accelerating the growth of small and medium-sized enterprises in Dubai.
Celebrating Key Partnerships and Economic Progress
The event concluded on a high note with an awards ceremony. The ceremony recognized key stakeholders and strategic partners for their significant contributions to Dubai’s economic development.
Representatives from the Ministry of Economy, Dubai Future Foundation, and major local and international banks were among those honored. The gathering celebrated the collective effort and successful collaborations that are actively shaping a prosperous and sustainable future for Dubai.
