Managing Partner's Foreword

Welcome to this
month’s Law Update

Across the Middle East and North Africa (MENA) there are several sectors that are synonymous with positioning the region as an international business and social hub, non-more so than Technology, Media, and Telecommunications (TMT). As a sector it has continued to evolve, and across the region it has grown exponentially in terms of the regulation that governs it, development of innovative technologies, and products and services that can help refine how we work, live, and do business.
This edition of Law Update focuses on TMT, a sector that presents the ongoing opportunity to advance, and pivot, the region to a more digital economy. The benefits of a digital economy have become obvious, and as businesses have continued to embrace the digital transformation, local authorities have kept pace and improved the regulations that govern the sector.

For example, the government of Dubai launched the Virtual Asset Regulation Law, in March 2022. This was a first of its kind law, and since its introduction the regulator issued its first operational MVP license in April 2023, and I am proud to say that we advised on securing this landmark licence.

Another development in the sector making headlines, and revolutionising the digital landscape, is Artificial Intelligence (AI), and specifically generative AI – such as the rise of ChatGPT (Generative Pretrained Transformer). Such is its popularity that just two months after its launch it reportedly became the fastest growing app in the world, having reached some 100 million users in February this year. Developments like this are keeping the TMT sector at the forefront of not just developing innovation but also regulation.

This edition is packed full of articles that provide timely commentary on the TMT sector. Our lawyers present captivating, and insightful, articles that address the legal issues businesses might face. For example, you will find articles that discuss applying data protection rules to AI, and another that highlights ChatGPT and its implications for the regulation of AI. Staying on the AI theme, we’ve provided insights from the EU’s AI Act and the UAE’s AI Strategy. In addition to AI, we have covered several other pertinent topics, such as providing an overview of Saudi Arabia’s new Telecommunications & Information Technology Law, we also explore trademarks in the Metaverse, and there is a piece on the legal challenges in the video game industry. There are several more topics that discuss the TMT landscape, and we have ensured this edition has a truly regional feel, by covering jurisdictions such as Kuwait, Saudi Arabia, UAE, Oman and Bahrain.

Outside the TMT focus we have important articles that provide an overview of the liberal FDI landscape in Bahrain, and the other discusses the long-awaited regulations to allow market makers to enter the Saudi Exchange. In the final section of this edition, we continue to share with you real-life judgments that provide context to the legal landscape across the region.

I hope that you enjoy this issue, and should you have any comments or questions, please do not hesitate to reach out to me or any of the lawyers that have contributed.