Al Zeyoudi: The move confirms the confidence of international companies in the UAE economy

Next Generation Foreign Investment Initiative Attracts 9 Global Companies to the UAE

  • Thani Al-Zeyoudi: "Since the launch of the initiative, we have received unprecedented interest from international companies that understand the dynamism of our economic system."

  • The Next Generation Foreign Investment Initiative aims to attract 300 digital companies. Archival

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The Ministry of Economy announced that nine new international companies have joined the global "NextGenFDI Initiative", which was launched by the UAE government in July 2022, and aims to attract 300 digital companies, focusing on advanced technology applications in various sectors, supporting their expansion in the country's markets, and providing the national economy with nearly $ 500 million.

The Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, said: "This step confirms the confidence of international companies in the UAE economy, and reflects the progress made in the Next Generation of Foreign Direct Investment initiative, and its important role in strengthening the advanced technological system in the country, which is one of the main pillars of the country's vision for its new economic model based on knowledge and innovation, in light of the determinants of the UAE Centennial 2071."

He added: "Since the launch of the initiative, we have received unprecedented interest from international companies that understand the dynamics of our economic ecosystem, and their diverse options from quick set-up and streamlined regulations, to a high-quality workforce, and supportive and compliant business networks. We welcome this distinguished group of leading companies in a number of priority areas and look forward to supporting their growth through the Next Generation Initiative, which will provide a supportive environment for their activities to flourish."

The new group includes TicketsMarche, Kasta, The Datafirm, Flypay, Mazarin Group, Polygon, BHAG, HPS and Yuan Li Group. Companies joining the Next Generation of Foreign Investment Initiative are expected to benefit from a range of incentives and benefits, including the establishment of new headquarters, support for the smooth and rapid transition of management and employees, access to financing, rental and residential incentives, and their expansion into the UAE markets. The nine new companies also embody the breadth and ambition of the initiative, and underline the UAE's drive to sustainably nurture the industries of the future. Founded in Paris 40 years ago, Mazarine Group is an independent global creative and technology agency, developing digital solutions for luxury brands in Europe, the US, Japan and China.

HPS International specializes in card and payments technology and serves more than 450 customers in 90 countries. TicketsMarche is an e-commerce platform in the entertainment industry that allows users to buy and sell event tickets, as well as generate data to improve event site operations through forward-looking analytics.

Polygon is a global leader blockchain platform that establishes a multi-chain ecosystem, compatible with Ethereum, using a consensus verifiable mechanism to process transactions on the blockchain, and derives its security from Ethereum. Founded in 2022, KASTA is a platform that collaborates with digital banks across Europe to enable cryptocurrencies to become an accessible and easy-to-use payment method for everyday transactions. The Datafirm has created a special system to accommodate databases and multiple sources of information in the public domain to provide a comprehensive understanding of an environment or system, covering individuals, consumption traits, cultural aspects, social behavior, attitude stimuli and other factors.