To Speed Up Bulk Visa Issuances & Faster Business Licensing Among UAE’s Initiatives
Launching NextGenFDI: To Attract World’s Top Digital Companies
The UAE has launched "NextGenFDI", a major campaign to attract digitally enabled companies and highly skilled talent to the country. The campaign was launched by Dr. Al Zeyoudi alongside senior representatives from NextGenFDI.
The Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi oversees the file to attract FDI and global talent to the country. He points out that:
- NextGenFDI would encourage more than 300 global technology firms and software developers, data scientists and coders to relocate to the UAE.
- Expanding array of measures have been introduced to make the market entry process for companies simpler and more efficient. These includes:
1. Rapid and flexible incorporation processes to speed up licensing, bulk visa issuances, banking facilitation and commercial and residential lease incentives.
2. Seven strategic partners have signed up under the initiative so far, such as:
A. Financial centres Abu Dhabi Global Market (ADGM)
B. Dubai International Financial Centre (DIFC)
C. Freezones Dubai South and DMC
D. Tech hub Dubai Internet City, banks Emirates NBD and WIO.
Aim
NextGenFDI aims:
1. 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.
2. At seeking out businesses from all over the world that are focused on applied technology within various sectors and provide them with the necessary market entry fundamentals needed to launch and scale from within the UAE.
These companies have highly skilled developers, coders and consultants within AI, gaming, data science and software.? Housing such talent within the UAE is of vital importance and this new initiative will make the market entry process for bright minds with great ideas as seamless as possible.