UAE Economy Ministry signs MoU with Presight to drive FDI inflow

UAE Economy Ministry signs MoU with Presight to drive FDI inflow

The UAE Ministry of Economy (MoE) has signed a Memorandum of Understanding (MoU) with Presight, an ADX-listed data analytics company powered by artificial intelligence, to drive Foreign Direct Investments (FDI) into new sectors within the UAE.

The initiative will help attract foreign companies to expand and invest in the UAE’s markets and support the partnership with the private sector. The signing took place on the sidelines of the 12th Annual Investment Meeting (AIM) 2023, which was held at the Abu Dhabi National Exhibition Centre (ADNEC).

The MoU was signed by Mr. Juma Al Kait, Assistant Undersecretary of Foreign Trade at the Ministry of Economy, and Dr. Adel Al Sharji, COO of Presight.

Under the MoU, Presight will work with the MoE to attract foreign direct investments to new sectors in the UAE by deploying big data, analytics and artificial intelligence in education, healthcare, infrastructure and financial services. The focus on attracting leading AI companies is expected to create a pipeline of promising AI companies and technologies, driving M&A activity in the sector.

Juma Al Kait

Assistant Undersecretary of Foreign Trade

UAE Ministry of Economy “Thanks to the directives and vision of its wise leadership, the UAE now has a more competitive and flexible investment environment, made