UAE launches new initiative to attract world’s top 300 tech firms
The UAE’s Ministry of Economy on Wednesday launched a new initiative to attract 300 global technologies in the first year to make the country a hub for global tech giants.
“We are moving from regional to a global hub. We are now competing with the big boys to attract global companies in new-age technologies, said Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.
The initiative – called NextGenFDI – has been launched in cooperation with seven strategic partners, including Dubai South, Abu Dhabi Global Markets, Dubai International Financial Centre, Dubai Internet City, Dubai MultiCommodities Centre and Emirates NBD bank.
The minister said the UAE aims to be one of the top 10 countries attracting foreign direct investment (FDI).
The global technology companies will be offered additional incentives to set up their presence in the UAE, including a rapid licence process for the companies and visas for their employees. In addition, they will also be offered commercial and industrial leases at more economical and discounted rates, said Dr Thani.
“We are slowly moving from region to become a global hub for investment, trade and digital industries. Through this initiative, we will ensure that ecosystem is even more attractive for global companies. More benefits will be announced in due course,” he said.
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The minister added that the initiative would help next-generation companies from Asia, Europe and America to establish a presence in the UAE.
“We are ready to seize opportunities to attract new generation companies in the field of software development, computer programming, and other new-age technology sectors. We want digital and technology majors from Europe, Asia and the USA to set up operations here because UAE is the best place to live and work. We are targetting more than 300 companies from around the world in the first year,” Dr Thani said at the launch of the initiative on Wednesday.
– waheedabbas@khaleejtimes.com
source: khaleejtimes
