A top Emirati businessman stated that the UAE is in a constant battle with US ‘Big Tech’ companies due to their monopolistic presence.
Emirati businessman and founder of Noon and Emaar, Mohamed Al Abbar, mentioned that they are engaged in a battle “day and night” with these companies. He explained that companies like Meta, Google, Microsoft, and Oracle hold indefinite monopolies across the technology sector. “They control the market around the globe and take their profits with them,” he remarked.
“The West laughed at us. It told us that there is no protection for institutions, competition, and so on,” Al Abbar said. Despite this, he noted how the UAE’s free market economic model benefits all companies equally and encourages new businesses to compete, which he admitted was something the West “does not believe in.”
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The business mogul was speaking at the Mohammed Bin Rashid Leadership Forum, which took place at the Dubai World Trade Centre on Wednesday.
“Microsoft, Google, Meta, and Oracle are controlling our lives,” he continued. “Today, if you want to bring a company to compete with Oracle from China, the US embassy will be on you. You cannot get rid of Google or Microsoft. That’s why I say that we are a market that believes in competition, and this is the policy of our country.”
Abdul Aziz Al Ghurair, another leading Emirati businessman and chairman of the Abdullah Al Ghurair Group, echoed his sentiments. He pointed to the failures of Western leadership, particularly in major US and European cities, where he said housing shortages and weak governance have created crises.
“Look at the current situation in New York, San Francisco, Los Angeles, Britain, Berlin, and so on. And the reason is that, frankly, there is no leadership that looks at the interests of society for the long term,” he said.
Al Ghurair highlighted how restrictive laws and the dominance of large institutions have crippled the real estate market in cities like New York, Berlin, and San Francisco. “The lack of housing in Berlin is now reaching one million people. In New York and San Francisco, rents are increasing and there is no housing. And every year, the US falls short by more than 1.5 million homes. What will happen? People will end up on the streets,” he said.
By contrast, he praised Dubai as an undervalued global brand, noting the city’s stability, growth, and quality of life. “Dubai is an undervalued brand. Two hundred and ten nationalities live here. There is security and safety. Work continues. Growth continues. A special life. Good income. Security and health. The situation is good, and the numbers we work with daily reflect that,” he concluded.
