ABU DHABI, 9th August, 2022 (WAM) — Godel Technologies, a UK-based agile software company founded in 2002, has become the latest digital-focused company to join the UAE’s landmark NextGenFDI initiative, the Ministry of Economy has announced. ).
This initiative supports a concerted national effort to achieve the goals of NextGenFDI. It was launched by the ministry in partnership with seven strategic partners who are also among the leading organizations in the United Arab Emirates (UAE). As the latest member of the initiative, Godel Technologies will move its regional headquarters to the Dubai International Financial Center (DIFC) and aim to create 250 jobs within two years.
Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said: “The UAE continues its efforts to attract FDI, innovative minds and talents. The implementation of the NextGenFDI initiative is in line with the UAE’s vision of building a new economic model based on knowledge, innovation and sustainability Attracting the world’s leading companies such as Godel Technologies to invest and expand in the country’s markets reflects the promising potential of the initiative after its launch last July.”
He also noted that the Ministry of Economy continues to work with partners to achieve the goals of the initiative and attract leading companies and international talent – whether from developed countries or developing countries, and that more companies are expected to join the initiative in the near future.
The NextGenFDI program seeks to attract the world’s top software developers, data scientists, programmers, and digital asset leaders across a wide range of technology fields, including Web 3.0, artificial intelligence, games, and data science.
The Ministry of Economy, along with other stakeholders in this initiative, will support Godel Technologies by facilitating optimal business structuring, banking readiness with Emirates NBD, visa batching and employee housing.
Godel is the second company to benefit from the NextGenFDI program, which provides global companies with competitive market entry support to help them enter the UAE market. Krush Brands, an integrated food technology company, was the first to join NextGenFDI and moved its global headquarters to the United Arab Emirates as part of the program.
Godel Technologies CEO Neil McMurdo said, “The opportunity to be part of the NextGenFDI program will give Godel Technologies advantageous access to the fundamentals of going to market. This initiative will support our ambitious plans to grow to 250 staff over the next two years and we look forward to building the brand.” Godel in the heart of one of the major financial centers of the United Arab Emirates.”
Currently, more than 1800 people work in the offices of Godel Technologies in the UK, Poland, Belarus, Bulgaria, Lithuania, Georgia and Ukraine. It specializes in software development, quality assurance, automation, data engineering and analytics, agile consulting, digital transformation, artificial intelligence and machine learning, mobile solutions, etc. The company serves e-commerce, finance, energy, automotive, travel, manufacturing , professional services and retail.
The benefits of NextGen FDI include a faster company formation process, bank preparation, easier visa procedures, and attractive commercial and residential lease terms. To facilitate market entry, the initiative brings together stakeholders from government and the private sector. Current partners include DIFC, Abu Dhabi Global Market, Dubai Multi Commodities Centre, Dubai Internet City, Dubai South, Emirates NBD and digital banking platform Wio.
Godel Technologies will forge operations at DIFC, a NextGenFDI partner, joining nearly 600 other digital businesses. According to the DIFC Office, DIFC has the region’s largest fintech and innovation community in the Middle East and North Africa, with about 60% of regional fintech companies already based there. NextGenFDI partner Emirates NBD will provide banking support to Godel Technologies.
Translation: Merwat Mahmud.