The UAE aims to attract 300 international technology firms and $500 million in investment through its NextGen FDI initiative, according to the Ministry of Economy. The programme, launched in July 2022, has already brought in over 90 companies, including Coinbase, Qualcomm, Ripple, and XPENG.
The initiative is part of the country’s strategy to position itself as a hub for foreign direct investment, particularly in sectors such as artificial intelligence, semiconductors, fintech, robotics, sustainability, and climate technology.
Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said the initiative coordinates with domestic entities to boost competitiveness and support economic development. He added that the UAE is focusing on streamlining market entry and providing incentives to foreign firms operating in strategic sectors.
The Ministry also announced that Schneider Electric has joined as a strategic partner to support the programme’s sustainability and climate tech expansion. Under the agreement, Schneider will introduce its global portfolio of startups to the UAE and support market entry and incubation strategies for new firms joining the initiative.
The partnership will focus on connecting startups to local opportunities, offering go-to-market strategies, and facilitating integration with Schneider Electric’s ongoing projects in industrial AI, mobility, and cybersecurity sectors.
NextGen FDI is part of the UAE’s broader plan to diversify its economy beyond hydrocarbons, enhance digital infrastructure, and compete with global investment hubs in attracting next-generation industries.
