A consortium led by Sharjah FDI Office (Invest in Sharjah), Ras Al Khaimah Economic Zone (RAKEZ), AI startup G42 Cloud and Citizens School in Dubai are added as the new stakeholders to promote UAE’s ambitious ‘NextGenFDI’ programme, the ministry of economy said.
The new lot will join the program’s first phase partners Abu Dhabi Global Market (ADGM), Dubai International Financial Centre (DIFC), Dubai South, Dubai Multiple Commodities Center (DMCC), Dubai Internet City, Emirates NBD and WIO Bank.
The initiative is aimed at facilitating entry of global tech companies from all over the world.
The Sharjah consortium, comprising Sharjah Research Technology and Innovation Park, Sharjah Media City, Sharjah Islamic Bank and real estate company ARADA, will showcase the investment, banking and real estate support available in the emirate of Sharjah to woo tech firms from around the world.
The Abu Dhabi-based startup G42 is to provide flexible, scalable cloud solutions to ensure tech and digital companies are able to instantly establish operations in the country.
The recently opened Citizens School in Dubai will offer a next generational education for the families of companies coming into the UAE via the NextGenFDI Programme.
Launched in July, the NextGenFDI Programme aims to target businesses from all over the world with a package including rapid and flexible incorporation processes, fast-track licensing, bulk visa issuances, banking facilitation and commercial and residential lease incentives.
The programme has been devised to accelerate the UAE’s economic diversification agenda and elevate its status as a knowledge- and innovation-based economy.
Dr. Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, who oversees the country’s FDI and global talent agenda, said the latest NextGenFDI partners would further assist the ministry’s efforts to attract global technology firms, software developers, data scientists and coders to the UAE.
“The addition of key stakeholders adds to the compelling proposition, facilitating market entry, financial support and access to commercial and residential real estate to enable some of the most innovative, exciting digitally enabled companies and their people to seamlessly commence operations in a thriving part of the UAE,” he said.
The minister said the programme has already facilitated the relocation of several high-profile businesses and the latest stakeholders will accelerate this progress.
The latest group of stakeholders are added to expand the geographical reach, technological scope and customized support offered by the NextGenFDI programme.
Within just a few weeks of launch of the ‘NextGenFDI’ initiative, UK tech company Gödel, food app development company Krush, Gecko Robotics and several others announced their commitments to join the programme.
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