Hisham Danana: The Arab Digital Economy Strategy Costs $600 Billion… and the Returns Are More Than Three Times Higher
December 17, 2018
Dr. Hisham Danana, head of the research team preparing the Arab Digital Economy Strategy, revealed that the cost of implementing the strategy amounts to $60 billion annually, or about $600 billion over 10 years. He noted that the returns are more than three times the expenditure.
In statements made on the sidelines of the first edition of the Arab Digital Economy Conference, held under the patronage of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, he indicated that the study presents 50 action plans tailored to the circumstances of each country. Arab countries have been divided into three groups based on their technological readiness to implement the digital economy.
He explained that the first project of the strategy will begin with the issuance of unified legislation to promote inter-Arab e-commerce, while the second will support Arabic content on the internet. He noted that the strategy has selected six sectors for development: health, agriculture, education, industry, trade, and financial services.
He emphasized that the necessary investments for implementation will be secured through partnerships with international entities and institutions, government funds, and the private sector, which will enhance the success and speed of implementing the digital economy system and the development of Arab economies.
