NextGenFDI steps up drive to lure global firms to UAE

Ministry of Economy has been adding more stakeholders to its NextGenFDI programme

by

Issac John

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The NextGenFDI programme has been designed to attract digitally advanced companies and highly skilled talents to the country. - File photo
The NextGenFDI programme has been designed to attract digitally advanced companies and highly skilled talents to the country. - File photo

Published: Mon 26 Dec 2022, 5:43 PM

The Ministry of Economy announced on Monday that Creative Zone, a leading start-up advisory firm in the UAE, would support its NextGenFDI initiative by providing investors and entrepreneurs with innovative solutions to propel their growth.

As per an MoU signed by the ministry and Creative Zone, the consulting company would support NextGenFDI’s drive by attracting new start-ups to the UAE while offering a range of business support.


The Ministry of Economy has been adding more and more stakeholders to its NextGenFDI programme, a landmark initiative launched in July 2022 to attract digitally-enabled companies to the UAE. The programme has been designed to attract digitally advanced companies and highly skilled talents to the country, and develop the next generation of technology start-ups. The drive, a key part of the UAE’s strategy to become a global hub for the industries of the future, seeks to encourage more than 300 global technology firms, software developers, data scientists, and coders to relocate to the UAE.

Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade
Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade

“The UAE places a high value on entrepreneurship and acknowledges it as a key engine for innovation and creativity, given its potential to sustainably support the country’s economic growth. Additionally, it is consistent with the directions of the wise leadership and objectives of the ‘Fifty Years’ goals and the UAE Centennial Plan 2071,” said Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.


“The agreement further confirms the UAE’s intentions to assist and promote emerging businesses and their growth. Through the initiative, Creative Zone will support these objectives by attracting new start-ups to the UAE and offering a range of business support services, while also boosting their capacity to grow, develop, and support the country’s digital business environment,” Al Zeyoudi added.

Lorenzo Jooris, CEO, Creative Zone. - Supplied photo
Lorenzo Jooris, CEO, Creative Zone. - Supplied photo

“We are pleased to contribute to the NextGenFDI initiative, which aims to strengthen the UAE’s position as a global hub for best emerging digital businesses and leading unicorn companies,” said Lorenzo Jooris, CEO of Creative Zone. “Digital technologies are rapidly changing how companies interact with their customers. At Creative Zone, we are committed to providing innovative, agile, and flexible business establishment solutions that will help companies maximise their potential and propel them to success in the UAE.”

Creative Zone is among the country’s trusted startup advisory firms, having assisted over 45,000 growing entrepreneurs and businesses in expanding their presence over the past decade, and will now support the objectives of the NextGenFDI initiative to promote the development of businesses in the UAE.

The Ministry of Economy said Creative Zone would advance the objectives of the NextGenFDI initiative by providing potential investors and high-potential entrepreneurs with a range of market-leading business launch solutions to ensure their flexible relocation to the UAE.

“The MoU will help broaden the scope of the initiative, which strengthens and accelerates the UAE’s efforts to create an advanced global business environment for the technology sector. Furthermore, it underscores the program’s capability of supporting innovative start-ups in priority industries.”

Under NextGenFDI programme, an array of measures has been introduced to make the market entry process for companies simpler and more efficient. These include fast business licensing, group visa issuance, fast access to banking facilities, as well as access to educational and cloud services, and commercial real estate.


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