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.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Day 1, Abu Dhabi Test: At a glance
Moment of the day Dimuth Karunaratne had batted with plenty of pluck, and no little skill, in getting to within seven runs of a first-day century. Then, while he ran what he thought was a comfortable single to mid-on, his batting partner Dinesh Chandimal opted to stay at home. The opener was run out by the length of the pitch.
Stat of the day - 1 One six was hit on Day 1. The boundary was only breached 18 times in total over the course of the 90 overs. When it did arrive, the lone six was a thing of beauty, as Niroshan Dickwella effortlessly clipped Mohammed Amir over the square-leg boundary.
The verdict Three wickets down at lunch, on a featherbed wicket having won the toss, and Sri Lanka’s fragile confidence must have been waning. Then Karunaratne and Chandimal's alliance of precisely 100 gave them a foothold in the match. Dickwella’s free-spirited strokeplay meant the Sri Lankans were handily placed at 227 for four at the close.
Charlotte Gainsbourg
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Key features of new policy
Pupils to learn coding and other vocational skills from Grade 6
Exams to test critical thinking and application of knowledge
A new National Assessment Centre, PARAKH (Performance, Assessment, Review and Analysis for Holistic Development) will form the standard for schools
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Mohammed bin Zayed Majlis
Global state-owned investor ranking by size
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MATCH INFO
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Atletico Madrid v Juventus, midnight (Thursday), BeIN Sports
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yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
Did you know?
Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.
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What She Ate: Six Remarkable Women & the Food That Tells Their Stories
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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