UAE has plans to become a global digital powerhouse

NextGenFDI. The name is futuristic, just like the UAE that’s setting a scorching pace in the technology investment landscape. Digital tech matters in the next phase of development and the country is making no attempt to hide its fascination and support for revolutionary ideas as it makes a pitch to attract investments in the space.

This is an exciting era in the country’s business evolution and the UAE considers itself the Silicon Valley of the Middle East. But it is not content as the sector is evolving and constantly changing with entrepreneurs and dynamic investors coming up with innovative business models that are shaking things up while making processes easier and sustainable. There’s a start-up for everyone and the UAE has its eyes set on becoming a long-term technology destination of choice for investors.

Under the NextGenFDI programme, the country plans to lure 300 digital companies with the right mix of incentives. Licensing processes, visas, finance and leasing will be made easier for these firms.

The target is to be achieved in six months to a year. Steep but doable as the UAE already has among the best digital infrastructure in the world. It has been assiduously working to speed up digitalisation in all sectors after the pandemic. The post-pandemic economy will, however, be challenging but the country believes that with the right investments, talent and leadership, it has a winning formula to take its digital success forward.