Dozens of international companies are primed to set up home in the UAE amid a major drive to cement the country's status as a global tech hub.
Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, said he was hopeful that close to 40 firms would announce their relocation to the Emirates before the end of the year.
The ambitious efforts to broaden business horizons is part of the NextGenFDI initiative, which aims to attract advanced technology companies from all over the world with a series of incentives.
These include making licensing and financing easier, offering golden visas, providing commercial and residential lease incentives, relocation guidance, cloud infrastructure and affordable education for families.
Dr Al Zeyoudi spoke to The National about the programme on the eve of the NextGen Talent Forum on Wednesday, a virtual event hosted by the Ministry of Economy, where speakers from companies such as Google, Amazon and Meta will address the nation's youth.
“We were talking to about 300 companies when we launched the initiative, but we exceeded that number to almost 400 companies so far,” he said.
“There is serious engagement and partnerships with almost 40 companies, and hopefully before the end of the year we're going to announce that they're either opening their regional headquarters or moving their global headquarters here.
“Many of these companies are going to be huge or bring huge added value.”
Some of these companies are focused on robotics, which Dr Al Zeyoudi said would “improve efficiency and many surveillance and monitoring areas within the country”.
A food security 'game-changer'
Another organisation relocating to the UAE focuses on lab-grown milk.
“It is going to be a game changer in the food security of the country where we're going to be a net exporter of milk from the UAE after they fully run their operations.
“These are some of the examples how the technology can play a major role in shifting the way that we're running things and achieving many of the strategies that we have in the country.”
In the weeks after the NextGenFDI initiative was launched in July, various companies decided to relocate their global or regional headquarters to the UAE.
These included Krush Brands, a full-stack food ordering and operating platform, which will transfer over its technology arm and create 700 jobs in the next two years.
Another is the UK-based agile software development company Godel, which will establish its regional base in the Dubai International Financial Centre and form a 250-strong workforce in the UAE within two years.
Sri Lanka-India Test series schedule
1st Test July 26-30 in Galle
2nd Test August 3-7 in Colombo
3rd Test August 12-16 in Pallekele
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
UAE currency: the story behind the money in your pockets
MATCH INFO
UAE Division 1
Abu Dhabi Harlequins 12-24 Abu Dhabi Saracens
Engine: 5.6-litre V8
Transmission: seven-speed automatic
Power: 400hp
Torque: 560Nm
Price: Dh234,000 - Dh329,000
On sale: now
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1. Henri Schoeman (RSA) 57:03
2. Mario Mola (ESP) 57:09
3. Vincent Luis (FRA) 57:25
4. Leo Bergere (FRA)57:34
5. Jacob Birtwhistle (AUS) 57:40
6. Joao Silva (POR) 57:45
7. Jonathan Brownlee (GBR) 57:56
8. Adrien Briffod (SUI) 57:57
9. Gustav Iden (NOR) 57:58
10. Richard Murray (RSA) 57:59
MATCH INFO
Liverpool 0
Stoke City 0
Man of the Match: Erik Pieters (Stoke)
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
SERIE A FIXTURES
Saturday Benevento v Atalanta (2pm), Genoa v Bologna (5pm), AC Milan v Torino (7.45pm)
Sunday Roma v Inter Milan (3.30pm), Udinese v Napoli, Hellas Verona v Crotone, Parma v Lazio (2pm), Fiorentina v Cagliari (9pm), Juventus v Sassuolo (11.45pm)
Monday Spezia v Sampdoria (11.45pm)
Dubai World Cup Carnival card
6.30pm: UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m
7.05pm: Handicap (TB) $135,000 (Turf) 1,000m
7.40pm: Handicap (TB) $175,000 (D) 1,900m
8.15pm: Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m
8.50pm: Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m
9.25pm: Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m
The National selections
6.30pm: Final Song
7.05pm: Pocket Dynamo
7.40pm: Dubai Icon
8.15pm: Dubai Legacy
8.50pm: Drafted
9.25pm: Lucius Tiberius
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Bangladesh tour of Pakistan
January 24 – First T20, Lahore
January 25 – Second T20, Lahore
January 27 – Third T20, Lahore
February 7-11 – First Test, Rawalpindi
April 3 – One-off ODI, Karachi
April 5-9 – Second Test, Karachi
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Mohammed bin Zayed Majlis
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Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
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Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
DUBAI WORLD CUP RACE CARD
6.30pm Meydan Classic Trial US$100,000 (Turf) 1,400m
7.05pm Handicap $135,000 (T) 1,400m
7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m
8.15pm Dubai Sprint Listed Handicap $175,000 (T) 1,200m
8.50pm Al Maktoum Challenge Round-2 Group Two $450,000 (D) 1,900m
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10pm Handicap $135,000 (T) 1,400m
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6.30pm Well Of Wisdom
7.05pm Summrghand
7.40pm Laser Show
8.15pm Angel Alexander
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The bio
Favourite vegetable: Broccoli
Favourite food: Seafood
Favourite thing to cook: Duck l'orange
Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania
Favourite place to travel: Home in Kuwait.
Favourite place in the UAE: Al Qudra lakes
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Graduated from the American University of Sharjah
She is the eldest of three brothers and two sisters
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Enjoys travelling, reading and horse riding
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
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When: September 16-23
Where: Insportz, Dubai
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
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Publisher: LucasArts
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
