Two foreign companies joined the Next Generation Direct Investments initiative

The Ministry of Economy announced that two companies specialized in the field of advanced technology have joined the Next Generation Global Foreign Investment Initiative, which provides a set of market entry basics to enable advanced companies coming from different parts of the world to establish or expand their operations in the country, and thus contribute to the development of the knowledge economy.

The Ministry stated in a statement yesterday that the two companies are “TG0”, which is based in the United Kingdom, and specializes in touch sensing technologies, and is creating a qualitative shift in industries such as cars, health care, and gaming, while the company The second is the Chinese “Zelos Technology”, which develops advanced smart driving technology solutions, especially at the fourth level (L4), and focuses on applications in the field of logistics services and express delivery.

By joining the Next Generation Foreign Direct Investment Initiative, the two companies will be able to benefit from the advantages of rapid establishment, accelerated access to financial services and capital resources, and opportunities for support and networking with the global corporate community participating in the initiative.

Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, said that the UAE continues to attract leading and advanced companies that can enhance the innovation system and contribute to developing new technological and industrial capabilities.

He added: “Zelas Technology will enhance our urban mobility and logistics sectors, while TGO’s innovations will provide new capabilities for healthcare and smart government services, which are a priority in the UAE.”

He pointed out that the entry of these new companies confirms the UAE’s position as a preferred global destination for innovation, and reflects efforts to develop its future industries.

For her part, Joyce Zen, Executive Director of Business in China at TGO, said: “The UAE’s approach to supporting advanced technologies is in line with our vision of developing human-machine interaction.”

She stressed that the support provided by the Next Generation Foreign Direct Investment Initiative will enable us to benefit from the UAE’s infrastructure, expand access to the market, and contribute to the development process in the country, making it a global center for future industries.

In turn, Managing Director of Zelos Technology, Terry Zhao, said that joining the Next Generation Foreign Direct Investment Initiative represents a new chapter for Zelos, pointing out that the UAE’s strategic focus on advanced technologies makes it the ideal destination for autonomous driving solutions. .

Pivotal role

The Next Generation FDI initiative aims to attract global advanced technology companies, with the aim of fostering innovation, supporting the growth of small and medium enterprises, and stimulating the development of sustainable industries.

The initiative plays a pivotal role in the UAE’s economic diversification strategy, by focusing on sectors such as information and communications technology, healthcare and advanced manufacturing.