A prominent Emirati entrepreneur declared that the UAE is locked in an ongoing struggle with US ‘Big Tech’ giants due to their monopolistic control.
Mohamed Al Abbar, the founder of Noon and Emaar, emphasized their relentless “day and night” efforts against these companies. He noted that firms like Meta, Google, Microsoft, and Oracle dominate the tech sector with indefinite monopolies. “They dominate global markets and take their earnings with them,” he stated.
Al Abbar mentioned, “The West mocked us, claiming there’s no institutional protection or competition.” Nevertheless, he highlighted the UAE’s free-market model that benefits businesses and fosters competition, which he believes the West doesn’t support.
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The entrepreneur shared these insights at the Mohammed Bin Rashid Leadership Forum, held at the Dubai World Trade Centre on Wednesday.
“Microsoft, Google, Meta, and Oracle influence our lives,” he added. “Introducing a competitor to Oracle from China will attract US embassy scrutiny. You can’t easily replace Google or Microsoft. Hence, we are a market that endorses competition, which is the UAE’s policy.”
Echoing his views, Abdul Aziz Al Ghurair, chairman of the Abdullah Al Ghurair Group, criticized Western leadership failures, especially in major US and European cities, citing housing crises and poor governance.
“Consider the situations in New York, San Francisco, Los Angeles, Britain, Berlin, etc. The root cause is a lack of leadership focused on long-term societal interests,” he remarked.
Al Ghurair pointed out how restrictive regulations and the dominance of big institutions have paralyzed the real estate sector in cities like New York, Berlin, and San Francisco. “Berlin’s housing shortage affects a million people. In New York and San Francisco, rents rise as housing diminishes. Annually, the US falls short by over 1.5 million homes. The result? More people on the streets,” he explained.
In contrast, he praised Dubai as an undervalued global brand, citing its security, growth, and quality of life. “Dubai is an undervalued brand. Home to 210 nationalities, it offers safety, ongoing work, growth, a unique life, good income, and excellent health services. Our daily figures affirm this positive situation,” he concluded.
