Today's Edition
ABU DHABI (ALETIHAD)
The Ministry of Economy has announced the addition of two advanced technology companies to the UAE’s NextGen FDI program, which provides a suite of market-entry fundamentals to enable cutting-edge companies from around the world to establish or expand their operations in the UAE and contribute to the development of the country’s knowledge economy.
They are UK-based touch-sensing pioneers TG0, whose technology is now transforming the automotive, healthcare and gaming industries, and Chinese firm Zelos Technology, which develops autonomous driving solutions, in particular Level 4 (L4) intelligent driving technology that focuses on applications in logistics and express delivery. By joining the NextGenFDI initiative, they will be able to benefit from rapid incorporation, fast-track visa issuance, immediate access to financial services, and the support and networking potential of the growing NextGenFDI community.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, welcomed the technological expertise these companies will bring to the UAE. “The UAE continues to attract forward-thinking companies that can enrich our innovation ecosystem and help develop new industrial and technological capabilities. Zelos Technology will drive our urban mobility and logistics sectors, while TG0’s touch-sensing innovations will shape new possibilities in the provision of healthcare and smart government services – all of which are priorities for the UAE. These companies reinforce our status as a welcoming home for innovation and are a testament to our efforts to nurture the industries of the future.”
TG0’s China Business Executive Joyce Zhen commented, “The UAE's welcoming approach to cutting-edge technologies aligns with our vision of advancing human-machine interaction. The support provided by the NextGenFDI initiative will enable us to leverage the UAE's infrastructure to expand our market reach and contribute to the nation's development as a global hub for future industries."
Meanwhile, Managing Director Terry Zhou of Zelos Techology stated, “Joining the UAE’s NextGenFDI initiative marks an exciting new chapter for Zelos Technology. The UAE’s strategic focus on advanced technologies makes it the ideal destination for our autonomous driving solutions. We are confident that this partnership will allow us to drive the development of smarter, more efficient transportation systems in the UAE and across the region.”
Launched by the UAE Ministry of Economy, NextGenFDI aims to attract global high-tech companies to the UAE to foster innovation, support the growth of SMEs, and drive the development of sustainable industries. With a focus on sectors such as ICT, healthcare, and advanced manufacturing, the initiative is playing a pivotal role in the UAE’s economic diversification strategy.
