Polish companies can help UAE move half of the government's transactions to blockchain
22:35
The Ministry of Economy of the United Arab Emirates (UAE) has adopted the Emirates Blockchain Strategy 2021, which aims to use blockchain technology to transform half of the government's transactions into a blockchain platform. Thus, for Polish companies interested in the African and Middle Eastern markets in the long term, a completely new opportunity to strengthen their presence in the region is opening up, according to the Polish Investment and Trade Agency (PAIH).
“In the latest National Innovation Strategy, the UAE Ministry of Economy adopted the Emirates Blockchain Strategy 2021, which aims to use blockchain technology to transform half of the government’s transactions into a blockchain platform,” said PAIH’s Head of ZBH in Dubai Adil Abdelwahab, as quoted in the release.
According to the UAE Ministry of Economy, cryptocurrencies and asset tokenization will be key to the country’s plans to double its economy, with ambitions to increase its gross domestic product by 7% annually, which would put it on track to double the size of its economy by 2030.
When it comes to IT services (IoT, AI, big data, cybersecurity), Polish companies can come forward both with their own proprietary solutions and in partnership with local or international entities. To do so, a physical presence in the UAE market is a prerequisite, without which it is virtually impossible to win contracts in the public sector, where the largest contracts take place, the agency stressed.
“The huge growth potential of application development services entails security, so the demand for cyber security services is also very high. The growth potential of this segment is compounded by the fact that the number of criminal or terrorist incidents is increasing every year. The UAE government is reserving a large number of funds to combat crime in the cyberspace,” reads the release.
