It targets 300 companies, 7000 talented people, and attracts $500 million

The UAE launches a global initiative to attract the best talent and digital companies

  • The initiative of the Ministry of Economy has attracted seven strategic partners, with expectations of more to join.

    From the source

  • Thani bin Ahmed Al Zeyoudi: "Many international companies are communicating with us directly, and are looking at opportunities to benefit from the unique advantages of the UAE."

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The UAE government launched the “Next Generation of Foreign Investments” global initiative, to attract 7,000 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.

Initiative Objectives

This initiative comes within a vision based on moving the development process of the UAE to unprecedented heights, with the entry of the era of the next 50 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, and to benefit from the unique competitive advantages of the UAE and its global position, as a leading center for business, investment and innovation, to support the growth of the knowledge-based economy, as well as highlighting its position as one of the most active, fastest growing and most sustainable economic and investment centers around the world. .

new era

Minister of State for Foreign Trade and Chairman of the Foreign Direct Investment Committee, Dr. Thani bin Ahmed Al Zeyoudi, stressed that the UAE is entering a new era of development, according to a clear vision and integrated strategies, to provide the necessary capabilities to embrace global talent, and companies based on the concepts and applications of new economies, especially those Which focuses on innovation, knowledge and modern technology, with the aim of encouraging it to move to the Emirates.

Facilities group

Al Zeyoudi said that the initiative will encourage more than 300 international technology companies and about 7,000 highly qualified people to move to the UAE, as it provides a comprehensive set of procedures to facilitate the movement of companies to the country, including those related to incorporation processes to speed up obtaining licenses, issuing visas, and residency. Gold, supporting a smooth and rapid transition of management and staff, and obtaining bank financing and the necessary commercial and residential rental incentives.

He added: "We are working in the UAE with concerted and integrated efforts between federal and local authorities to advance the country's position to be the world's leading innovation center in the future. We want to ensure that the world's most promising digital companies can obtain all the benefits offered by our attractive and business-friendly investment environment."

Al Zeyoudi continued: "Many international companies are communicating with us directly, and are looking at opportunities to benefit from the unique advantages of the UAE, and to attract its talents, ideas and high-growth projects to the country."

Al Zeyoudi revealed that seven strategic partners have joined the initiative, with more expected to join: Abu Dhabi Global Market, Dubai International Financial Center, Dubai South Free Zone, Dubai Multi Commodities Center, Dubai Internet City, Emirates NBD, and WIO platform.

«Dubai South»

For his part, Khalifa Al Zaffin, CEO of Dubai Aviation City Corporation and Dubai South, said: “We are pleased to join the NEXTGEN FDI plan, especially as 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 promote economy of the emirate.

He added: "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."

Abu Dhabi Global Market

For his part, Chairman of the Board of Directors of the Abu Dhabi Global Market, Ahmed Jassim Al Zaabi, said that the UAE has succeeded in consolidating its position as a preferred destination for foreign direct investment, thanks to its comprehensive vital business system and its social, economic and political stability.

He added: "ADGM plays a key role in enhancing the country's prosperous financial landscape through its pioneering regulations, and its innovative solutions and services to empower the brokerage community and attract more liquidity and investments to the country."

He stressed that the Abu Dhabi Global Market's participation in this campaign is a progressive step, in line with the commitment to work alongside government agencies in the country, regulatory bodies, and the private sector to develop a comprehensive approach that enhances our global position as an innovative investment center.

"Dubai International Finance"

In the same context, CEO of the Dubai International Financial Center Authority, Arif Amiri, said that the center has succeeded in laying the foundations for the largest financial technology ecosystem and the largest innovation community in the Middle East and North Africa, and today it includes 600 companies representing 60% of the financial technology companies in the region. This includes 34 companies from Europe and South Asia, emphasizing the position of the Dubai International Financial Center, a preferred choice for companies, and its ability to help them enter the emerging markets in the Middle East, Africa and South Asia.

Dubai Internet city

As for the Director General of Dubai Internet City, Ammar Al Malik, he said that the visions and strategies developed by our leadership in the areas of ease of doing business and attracting foreign investments succeeded in building a competitive business environment that attracted the best talents and competencies from all over the world, which consolidated the country’s position as a global business center, praising the role The pivotal contribution that Dubai Internet City has made for more than two decades in building a comprehensive business environment that supports various technology sectors.

A global country open to creativity and innovation

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.

Wio . platform

Wio CEO Jayesh Patel said that the platform provides investors with a strong digital banking platform to support their financial and investment needs, with access to an integrated investment system, in line with the efforts of the UAE to become the leading investment capital in the world.

Golden visas

The National Program for Programmers offers 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.

DMCC

Ahmed Hamza, Executive Director of the DMCC Free Zone, said: "As the fastest growing free zone in the world with more than 21,000 registered companies, we are pleased to partner with the Ministry of Economy in this strategic initiative."

He added, "By facilitating business set-up processes and running key services, 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."

Emirates NBD Bank

Ahmed Al Qassim, Senior Executive Vice President, Head of Corporate and Institutional Banking at Emirates NBD, said: “We are pleased to be one of the first partners in this unique initiative aimed at attracting skilled and experienced human cadres to the UAE, to put their mark on the growth and economic development process in the region.” .

He added, "We 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 rising growth and innovation momentum in the UAE."

The UAE is one of the fastest growing economies

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 2022, the UAE ranked first in the world as the best ecosystem for startups and entrepreneurship, according to the Global Entrepreneurship Monitor report for the year 2022, in addition to being the best country in the region in attracting foreign direct investment.

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