UAE launches NextGenFDI to attract world’s top digital companies

UAE launches NextGenFDI to attract world’s top digital companies

DUBAI, 6th July, 2022 (WAM) -- The UAE has launched "NextGenFDI", a major campaign to attract digitally enabled companies and highly skilled talent to the country.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, who oversees the file to attract FDI and global talent to the country, said NextGenFDI would encourage more than 300 global technology firms and software developers, data scientists and coders to relocate to the UAE.

An expanding array of measures have been introduced to make the market entry process for companies simpler and more efficient. These include rapid and flexible incorporation processes to speed up licensing, bulk visa issuances, banking facilitation and commercial and residential lease incentives. Seven strategic partners have signed up under the initiative so far, such as Financial centres Abu Dhabi Global Market (ADGM) and Dubai International Financial Centre (DIFC), freezones Dubai South and DMCC, tech hub Dubai Internet City, banks Emirates NBD and WIO. More are expected to join in subsequent phases.

NextGenFDI aims to leverage the UAE’s unique competitive advantage and global standing as a leading business, investment, and innovation hub to support the growth of the nation’s knowledge-driven economy. The campaign was launched by Dr. Al Zeyoudi alongside senior