Skip to main content

UAE Plans To Become Hub For Tech Startups Of The World

 Digital companies are in demand as the UAE focuses on attracting some 300 digital companies within six months to a year from all over the world to the land of opportunities. 

A new FDI initiative called the NextGenFDI initiative will offer a faster business set-up process, access to finance, easier visa procedures, and attractive leasing terms. The intention is to see UAE develop as a desirable FDI country and a preferred global tech center. 

Towards the first phase, some 300 digital companies in a span of six months would be invited to set up shop here. According to Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, “We are moving from a regional hub to a global hub, we are competing with the big boys now. The competition in the last [few] years was with the region, now we are moving to become a global hub and attract companies and FDI.”

Ranked globally in terms of FDI flow at the 17th position, the Emirate attracts almost $20.7 billion worth of FDI in 2021, up 4 percent from 2020. There are big plans for this Emirate. For starters, the ones to be invited would focus on companies led by software developers, data scientists, computer programmers, and digital asset entrepreneurs. 

“We want to show digitally-enabled companies from Europe, Asia, and the Americas that the UAE is the world's best place to live, work, invest and scale [up],” Dr. Al Zeyoudi has communicated through a formal media release. To give more teeth to its tech growth, the Ministry of Economy signed partnerships with seven entities in Dubai and Abu Dhabi to convince digital companies to establish offices or headquarters in the UAE.

These include the Abu Dhabi Global Market, the Dubai International Financial Centre, the Dubai Multi Commodities Centre, Dubai Internet City, Dubai South, Emirates NBD, and the digital banking platform Wio.

UAE Plans To Become Hub For Tech Startups Of The World


Labels:

Comments

Post a Comment

Popular posts from this blog

Syria Condemns Israeli Incursion into Beit Jinn, Holds Israel Responsible for Escalation

 Syria strongly condemned an Israeli military incursion into the town of Beit Jinn in rural Damascus, denouncing the assault on civilians and their property, which resulted in casualties and widespread panic. In an official statement, the Syrian Ministry of Foreign Affairs described the incursion as a war crime, stating it followed Israel’s failed attempt to target the town. The ministry held Israeli authorities fully responsible for the aggression and its consequences. Syria called on the UN Security Council, the United Nations, and the Arab League to take urgent action to halt repeated violations. It reaffirmed its commitment to defending its sovereignty and people through all means permitted under international law.
Post a Comment
Read more

Bombay High Court Restricts Bursting of Firecrackers in Mumbai During Diwali to These Timings

  The festival of Diwali, often referred to as the "Festival of Lights," is celebrated with great enthusiasm and fervor across India. While the tradition of lighting lamps and bursting firecrackers has been an integral part of the festivities, concerns over air pollution and its adverse effects on public health have prompted authorities to regulate the use of fireworks. The Bombay High Court , in a recent decision, has imposed restrictions on the bursting of firecrackers in Mumbai during Diwali, specifying designated timings to minimize the environmental impact. In an effort to strike a balance between celebrating the festival and safeguarding the environment, the Bombay High Court issued a directive that restricts the use of firecrackers to specific time slots. The court's decision is a response to the rising concerns about air quality and noise pollution during Diwali, which often reaches hazardous levels in several Indian cities. These timings aim to strike a balance b...
Post a Comment
Read more

World Bank says India could face heat waves beyond human survival in future

 According to a new report, severe heat waves, which have caused thousands of deaths across India over the past few decades, are occurring more frequently than ever before. Soon, the nation may experience heat waves that are too intense for humans to survive, making it one of the first places in the world to do so. The country is reportedly experiencing higher temperatures that arrive earlier and last much longer, according to a World Bank report titled "Climate Investment Opportunities in India 's Cooling Sector." "India had a terrible early spring heat wave in April 2022 that brought the nation to a stop and caused temperatures in the capital, New Delhi, to rise to 46 degrees Celsius (C) (114 degrees Fahrenheit). The warmest month ever recorded was March, which had very high temperature rises "It stated. The two-day "India Climate and Development Partners' Meet," which is being organized by the World Bank in collaboration with the Kerala governme...
Post a Comment
Read more