The UAE’s fintech sector contributes 8.7% to the country’s GDP, with plans to increase this to 12% by 2031. The country is also focusing on the space economy and agricultural innovation, driving growth in new sectors. Additionally, 200,000 new business licenses were issued in 2024, boosting economic activity.
UAE’s AI market is projected to grow from $3.47 billion to $46.3 billion by 2030, contributing 14% to the country’s GDP. With massive investments in AI infrastructure and strong government initiatives, the UAE is positioning itself as a global leader in AI, attracting wealthy investors and top talent.
IFZA and Abu Dhabi Islamic Bank (ADIB) have signed an MoU to provide businesses within the IFZA community with enhanced financial solutions, including streamlined account opening and tailored financing options. The partnership aims to foster economic growth, supporting entrepreneurs and SMEs with digital banking services and personalized advisory support.
Checkout.com has partnered with noqodi to integrate advanced payment technology into the UAE’s financial ecosystem. This collaboration aims to enhance payment processes for businesses and consumers, offering secure, efficient, and flexible payment solutions. It will streamline transactions, boost operational efficiency, and support economic growth in the region.
Numou has launched in Abu Dhabi, offering a digital lending marketplace designed to streamline financing for SMEs. The platform allows businesses to apply for loans through a single online form, connecting them with multiple lenders and ensuring transparency. Numou aims to empower SMEs and boost Abu Dhabi’s digital economy.
The Dubai Future Foundation and the UAE Ministry of Economy have launched the Dubai Intellectual Property Hub (DIPH), the first centralized platform for intellectual property and intangible assets in the UAE. This initiative aims to empower innovators and support the nation’s vision of becoming a global leader in creativity and innovation.
Space42 has launched in Dubai as a result of the merger between Yahsat and Bayanat, creating one of the largest publicly listed space technology companies globally. The company aims to enhance satellite communications and AI capabilities, focusing on innovative solutions for the UAE’s growing space economy.
VeraViews, leveraging distributed ledger technology, will set up its global headquarters in the UAE under the NextGen FDI initiative. This strategic move aims to enhance the transparency and efficiency of the digital advertising ecosystem, supporting UAE’s goal of becoming a leader in secure digital advertising.
