UAE's latest bet on tech: a ministry in the Metaverse

In a project launched at Dubai's gleaming Museum of the Future, it announced that the UAE's economy ministry was setting up shop inside the immersive virtual world that is now taking shape.

Those who don't wear their virtual reality goggles or use other means to venture within will find a ministry open for business with companies and even ready to sign bilateral agreements with foreign governments, officials said.

The metaverse is an online world where users will eventually be able to game, work and study, its proponents say -- although it is still in a "test" phase, the UAE's economy minister conceded.

"In the last couple of years we've seen investments, we've seen companies move in, and with the changes of the (visa) regime... we see talent coming in," Abdulla bin Touq Al Marri said.

"We trained our employees to really immerse themselves in the metaverse, use the metaverse and engage with the Generation Z that is going to come," he added.

Representatives of tech giants mingled with entrepreneurs and developers exploring the potential of the metaverse, a network of digital spaces intended as an extension of the physical world.

The UAE hopes the metaverse can add $4 billion to annual GDP and 40,000 jobs to its workforce by 2030.

In its bid to become one of the world's top-10 metaverse economies, Dubai wants to attract 1,000 companies specialising in blockchain and related technologies, helped by eased visa rules for freelancers, entrepreneurs and creatives.