The Fast Forward Summit 2017 Concludes With a Series of Important Recommendations

Mobilk - The Fast Forward Summit hosted by the Telecommunications Regulatory Authority (TRA) in Dubai under the slogan Future Shaping, concluded with the participation of representatives from various UAE government entities and major international companies in the field of e-payment, innovation and eCommerce.

The Summit has resulted at the end of its agenda in the adoption of several important recommendations, including the cooperation with solution providers to provide the necessary technical tools for startups and digital entrepreneurs in the country, enabling them to launch their business according to the latest technical solutions. Among the recommendations also is the cooperation with digital incubators at the state level, whether governmental or private, within the "100x" initiative that aims to selecting the top 100 digital startup companies, which are 50% owned by UAE Nationals and 50% by companies operating in the UAE, in order to support them in several services such as registration, licensing, practicing commercial activity and utilizing advanced infrastructure. Moreover, the Summit recommended activating the registration and adoption of the internet activities provided by TRA in partnership with the entities that support digital entrepreneurs and startups in the country.

Today, the UAE is leading the region in the field of eCommerce. It is ranked 25th in the United Nations eCommerce Index in 2016.  The UAE possesses 53% of the Gulf countries eCommerce volume, amounting to 14.1  billion US dollar. The UAE is the first country in the region to have a legislation on eCommerce, the Federal Law No. 1 of 2006 on Electronic Commerce and Transactions issued by H. H. Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, 10 years ago.

The participants addressed the young generation of entrepreneurs, stating that:  you are the new leaders. The future is yours. Keep your courage and achieve your work online. Keep challenging yourselves, and maintain the vision. Focus on the users. Give them pleasant and interactive experience and work with them. Social media is the heartbeat of your business. It gives you a glance into the customers lives. The UAE is the right destination for those who opt to be in alliance with the future. We are developing ICT infrastructure that accommodates for the smart city and smart commerce. So, start writing your success story and place it among the UAE Odyssey of Success. 

The Summit was accompanied with the organization of a special exhibition, with the participation of 33 specialized companies in the field of e-payment and smart solutions from around the world.