Saturday, 04 December 2021 04:08 GMT

The Ministry of Industry and Advanced Technology briefs 11 French startups on the UAE business environment and its efforts to support growth in the Advanced Technology


(MENAFN- Mid-East.Info) Mohamed Al Qassim: The Ministry of Industry and Advanced Technology is committed to supporting the growth and prosperity of startups and entrepreneurship in the country and enabling the private sector to build international partnerships.

UAE: As part of a networking event introducing the business environment in the UAE and the various investment opportunities in the industrial and advanced technology sector, the Ministry of Industry and Advanced Technology (MOIAT) hosted a group of French startups in the presence of prominent UAE industrial bodies, business incubators and funding entities. The event was the latest initiative designed to promote partnerships between the UAE and foreign businesses operating in the advanced technology sector.

The networking event included 11 French startups and was held in cooperation with Business France, the national agency supporting the development of the French economy internationally, and in the presence of Her Excellency Nathalie Kennedy, Consul General of the Republic of France in Dubai. It served to showcase the strategic advantages and benefits of the UAE's business environment to these emerging French companies, which is in line with the Ministry's strategic objectives of creating a business environment that attracts investors, stimulates innovation and facilitates the adoption of advanced technology.

Promoting entrepreneurship

Mohamed Al Qassim, Director of the Department of Technology Adoption and Development at MoIAT, stressed that the event comes within the framework of the ministry's commitment to providing effective platforms to support the growth and prosperity of new projects and innovation-based entrepreneurship, especially in the priority sectors outlined by the national strategy for industry and advanced technology.

Al Qassim also briefed the 11 French companies on“Operation 300bn”, the national strategy for industry and advanced technology, and its role in creating an attractive business environment for local and international investors, particularly in areas such as advanced technology and the applications of Industry 4.0 solutions.

In addition, H.E. Nathalie Kennedy, Consul General of the Republic of France in Dubai, gave a brief introduction to the industrial business environment in France. This was followed by a presentation from the French startups on their business activities and potential investment opportunities.

The ministry's partners participating in the event included ADNOC, the Ministry of Economy, the Emirates Development Bank, Middle East Venture Partners (MEVP), DP World, Dubai Silicon Oasis, the Abu Dhabi Future Energy Company (Masdar), Dubai Electricity and Water Authority (DEWA), and EDGE Group. Also present were Dubai Technology Entrepreneurship Campus and TECOM's In5, which are among the country's largest startup incubators.

The 11 French startups participating in the event operate in a number of fields, including technology, infrastructure and services. They are all members of La French Fab Booster Middle East program, which is organized by Business France to support French companies in global markets.

About the Ministry of Industry and Advanced Technology :

The UAE's Ministry of Industry and Advanced Technology (MoIAT), established in July 2020, is mandated with strengthening the UAE's industrial sector, specifically by accelerating the adoption of advanced technologies and Fourth Industrial Revolution (4IR) solutions across the value chain.

MoIAT has three overarching goals: Strengthening the UAE's industrial base, ensuring in country value, and raising the competitiveness of local industries. By enhancing the contribution of advanced technology, the Ministry will support the country's sustainable economic growth, and ensure GDP contribution from the industry sector. 

The Ministry will draft policies, laws and programs to create a world-class industrial development framework for the nation that will help attract foreign direct investment, boost In-Country Value creation, support national entrepreneurship, drive job creation, and boost exports of 'Made in UAE' products.

From encouraging the establishment of industrial complexes to raising local capacity in advanced technology, the Ministry will accelerate industrial development in a bid to drive economic growth, diversification, value retention and national self-reliance.

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