Dubai Chamber head on keeping up with ‘Fourth Industrial Revolution’

Majid Al Ghurair, chairman of the Dubai Chamber of Commerce, told Al Arabiya on Wednesday that Dubai has the ability to keep up with the world’s “Fourth Industrial Revolution.”

Speaking on the sidelines of the World Economic Forum in Davos, Switzerland, Ghurair called on the need for economic legislation reform to enable the emirate to attract pioneers and keep up with a changing world.

The “Fourth Industrial Revolution” is a phrase coined by the World Economic Forum to describe the current trend of automation and data exchange in manufacturing technologies.

It includes cyber-physical systems, the Internet of things and cloud computing.

Ghurair stressed on the importance of education to make progress in these areas, adding that Dubai is continuously working on filling the education gap in the region.

Commenting on Dubai’s retail sector, Ghurair said its performance had suffered in 2016 and did not achieve the growth that was expected.

"We are trying to open up new markets for Dubai, and branch out to Africa and Latin America, and we are now able to attract several investments from those areas. "

He added: "I think the construction sector also suffered in many countries, but in the UAE and Dubai, the sector experienced several mergers and growth."