Global Outlook

 Shell UAE hosted the Shell Startup Engine Demo Day at Sharjah Research, Technology, and Innovation Park today under the auspices of the Ministry of Energy and Infrastructure, providing eight ambitious startups with a stage to present their cutting-edge sustainable energy solutions to an audience of government representatives and business partners and investors. Shell Startup Engine, in collaboration with Startup Bootcamp, is the regional extension of the company's global flagship programme for early to mid-stage energy businesses striving to contribute to tomorrow's cleaner, smarter energy future. At the event, H.E. Eng. Sharif Al Olama, Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, stated, "The UAE continues to take ambitious steps to build a low-carbon future through innovative and tech-enabled solutions that serve the energy sector and help achieve the objectives of its Net Zero by 2050 Strategic Initiative." Accord...

 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 ...