The UAE government launched the “Next Generation of Foreign Investments” global initiative, to attract 7000 global talent and 300 digital companies, especially those that focus on advanced technology applications in various sectors, and provide them with the basics of entering the market needed to launch and expand from within the UAE, and support The national economy is approximately $500 million. This initiative comes within a vision based on moving the development process of the United Arab Emirates to unprecedented heights, with the entry of the era of the next fifty years, and within the framework of the UAE Centennial “2071”, which seeks to make the UAE the best country in the world.
The initiative aims to introduce the economic and investment aspect in the UAE, take advantage of the UAE’s unique competitive advantages and its global position as a leading center for business, investment and innovation to support the growth of a knowledge-based economy, as well as highlight its leading position as one of the most active economic and investment centers around the world, the fastest growing and most sustainable. The initiative seeks to keep pace with the UAE’s journey to the next fifty years, and contribute to creating new creative and competitive standards that stimulate as a main attraction for talent, expertise and investors from all over the world within an economic system that enjoys the highest standards of global competitiveness.
UAE is the gateway to the world
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Chairman of the Foreign Direct Investment Committee, stressed that the UAE is entering a new era of development according to a clear vision and integrated strategies, to provide the capabilities of the crisis to embrace global talent, companies based on the concepts and applications of new economies, especially those that are It focuses on innovation, knowledge and modern technology, with the aim of encouraging it to move to the UAE.
His Excellency said, “An initiative that will encourage more than 300 international technology companies and about 7,000 highly qualified people to move to the UAE, as the initiative provides a comprehensive set of measures to facilitate the movement of companies to the country, including those related to incorporation processes to expedite obtaining licenses, Issuance of visas, golden residency, support for a smooth and rapid transition of management and staff, and access to bank financing and the necessary commercial and residential rental incentives.
His Excellency added: “This is a once-in-a-generation opportunity to attract the best minds to the UAE and contribute to our quest for the UAE to be the world’s leading innovation center in the future. We want to ensure that the world’s most promising digital companies can access all the benefits it offers.” Our attractive and business friendly investment environment.
His Excellency Dr. Thani Al Zeyoudi explained: “Many international companies are communicating with us directly and are looking for opportunities to benefit from the unique advantages of the UAE and to attract its talents, ideas and high-growth projects to the country. He confirmed that 7 strategic partners have joined the initiative with expectations of more to join, namely, the Abu Dhabi Global Market and the Center Dubai International Financial, Dubai South Free Zone, DMCC, Dubai Internet City, Emirates NBD and WIO.
His Excellency Khalifa Al Zaffin, CEO of Dubai Aviation City Corporation and Dubai South, said: “We are pleased to join the NEXTGEN FDI plan, especially since this important initiative launched by the Ministry of Economy in the country aims to attract the best companies and talents in the technology sector to enhance the emirate’s economy. Our vision in Dubai South is in line with all government initiatives, and we will continue our full support to meet the needs of companies, and facilitate the procedures for establishing their businesses, to achieve the objectives of this initiative.”
His Excellency Ahmed Jassim Al Zaabi, Chairman of the Board of Directors of ADGM, said: “The UAE has succeeded in establishing itself as a preferred destination for foreign direct investment, thanks to its comprehensive business ecosystem and its social, economic and political stability. ADGM plays a key role in enhancing the prosperous financial scene in the country. Through its pioneering regulations, and the innovative solutions and services it provides to empower the financial intermediation community and attract more liquidity and investments to the country, the market has been able to introduce transformative initiatives, which are the first of their kind in the region, such as the regulatory lab and the complete system of digital electronic courts, as well as the first A regulatory framework for virtual assets for the region and beyond.
Al Zaabi added: “At ADGM, we intend to continue our efforts and actively contribute to consolidating Abu Dhabi and the UAE’s position as a leading center for attracting capital investments and their growth through prudent risk management and supporting the long-term and sustainable economic growth of the next generation of foreign investment companies. This campaign is a progressive step, in line with our commitment to work alongside UAE government agencies, regulators and the private sector to develop a comprehensive approach that enhances our global position as an innovative investment hub.”
For his part, Arif Amiri, CEO of the DIFC Authority, said: “The DIFC has succeeded in laying the foundations for the largest FinTech ecosystem and the largest innovation community in the Middle East and North Africa, and today it includes about 600 companies representing 60% of the FinTech companies in the region. This includes 34 companies from Europe and South Asia, confirming DIFC’s position as a preferred choice for companies and its ability to help them enter emerging markets in the Middle East, Africa and South Asia region. We offer these companies the most comprehensive innovation services in the region including education, participation in programs Incubators and accelerators, cost-effective operating licenses and regulations, as well as easy access to resources, the highest technical expertise and financing options. In line with the DIFC 2030 strategy, the center supports sustainable economic growth and distinguishes Dubai as a global hub for financial institutions and financial technology companies. and innovation companies.
Ammar Al Malik, Director General of Dubai Internet City, said: “The Middle East and North Africa region is full of tremendous opportunities in various sectors due to the size and diversity of its markets. The visions and strategies developed by our wise leadership in the areas of ease of doing business and attracting foreign investments have succeeded in building a competitive business environment that has attracted better We are proud of the pivotal role that Dubai Internet City has played for more than two decades in building a comprehensive business environment that supports various technology sectors, and we seek to continue our efforts in introducing the country and its business environment and attracting More companies of all sizes
Ahmed Hamza, Executive Director of DMCC Free Zone, said: “As the fastest growing free zone in the world with more than 21,000 registered companies, DMCC is pleased to partner with the Ministry of Economy in this strategic initiative. By facilitating Business setup and key service operations, the Next Generation FDI initiative will attract innovative and high-tech companies from around the world to the UAE, which continues to demonstrate its commercial attractiveness as a global business hub.”
For his part, Ahmed Al Qassim, Senior Executive Vice President, Head of Corporate and Institutional Banking at Emirates NBD, said: “We at Emirates NBD are pleased to be among the first partners in this unique initiative aimed at attracting skilled and experienced human cadres to the UAE, to put their mark on the UAE’s journey. Economic growth and development in the region. As a leading local bank that is constantly committed to advancing innovation in the region, we at Emirates NBD believe that this initiative is in line with our long-term strategy and we are confident that it will contribute to anticipating the next phase of the growing momentum and innovation in the UAE.”
Jayesh Patel, CEO of Wio, said: “Wio is honored to be a strategic banking partner for the UAE Ministry of Economy in the NextGenFDI program. Wio offers investors a powerful digital banking platform to support their financial and investment needs with access to an integrated investment ecosystem, in line with The UAE’s efforts to become the world’s leading investment capital.”
advanced economic sectors
The initiative aims to attract companies from all over the world, especially those that focus on advanced technology applications in various sectors, and provide them with the basics of entering the market needed to launch and expand from within the UAE. These companies have highly skilled developers, programmers, and consultants in artificial intelligence, games, data science, and software. It is very important to host talents within the country as part of efforts to attract and retain the best minds and creative ideas from all over the world.
The initiative also highlights the promising opportunities offered by the UAE as a global country that is open to creativity, innovation and new economic, commercial and investment experiences, benefiting from its advanced infrastructure, advanced legislative facilities, skilled competencies and creative talents that gather in it from all countries of the world.
It is worth noting that the UAE is one of the fastest growing economies in the region. The International Monetary Fund expects economic growth to accelerate to 4.2% in 2022. In April of this year, the UAE ranked first in the world as the best ecosystem for start-ups and entrepreneurship, according to the Global Entrepreneurship Monitor 2022 report, in addition to being the best country in the world. The region is attracting foreign direct investment.
As a mainstay in the talent acquisition campaign, the National Program for Programmers is offering golden visas to 100,000 programmers. The UAE also aims to establish 1,000 new digital companies and increase investment in startups from nearly $400 million to $1.3 billion. The Next Generation FDI initiative will complement and accelerate these efforts.
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