search.noResults

search.searching

saml.title
dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
REGIONSMIDDLEEAST&AFRICA


INVESTORS NOWHAVE ACCESS TO UAE CITIZENSHIP, BUT ON AN INVITATION-ONLY BASIS


UAEextends citizenship toinvestors


UAE


Foreign investors in the United Arab Emirates (UAE) have a path to citizenship for the first time, following reforms on January 30; however, the move is largely symbolic and only select individuals are likely to be accepted. The changes, which allow


Emiratis to retain dual citizenship for the first time, set a new bench- mark for the Gulf Cooperation Council (GCC) region, which has resisted naturalising foreigners. The announcement comes two


months after the government scrapped foreign direct investment (FDI) caps and suggests its commitment to opening up the country has gone up a notch. “In the GCC, granting


citizenship is not a trivial matter,” says Anshu Vats, a senior partner and global public sector and policy practice lead at Oliver Wyman. “For the UAE to take that step gives an insight into howserious the government is about diversifying the economy and creating industry going forward.” The only eligibility criterion at


present is ownership of property in the UAE. However, there is no application process; investors must be nominated by the UAE cabinet, courts and executive councils. “My sense is that the government will be very selective in who they grant citizenship to,” said Mr Vats. “It is important for them to retain cultural and societal integrity. This won’t be the typical citizenship-by- investment schemes like you see in the Caribbean.” Mohammed bin Rashid Al


Maktoum — the vice president and prime minister of the UAE, and ruler of Dubai — tweeted that the reforms “aim to attract talents that contribute to our development journey.” Indeed, it’s thought the


82 Only select individuals will be offered UAE citizenship


government will grant citizenship to reward individuals it believes can help shape the country’s economic future. Historically, individuals have


tended to arrive in and leave the GCC region in line with economic cycles. The UAE responded in recent years by liberalising residency rules for expatriates, which represent 80% of its population, including by introducing freelance visas and expanding its 10-year golden visa programme. But the possibility of citizenship


is its strongest commitment to-date towards the long-termparticipation of foreigners in UAE society. “There is nowthe possibility to transition intomore permanence, which has been a challenge for the region in terms of retaining foreign experts and investors,” says Mr Vats. This is particularly important for the UAE, whose bid to attract regional headquarters relies on executives and senior leaders treating the country as their permanent home. Mr Vats expects the change to


prompt other GCC countries to consider liberalising their residency and citizenship routes.■ DANIELLEMYLES


African tech funding stable


Funding into Africa’s tech and innovation scene proved resilient in 2020 despite the pandemic, according to tech ecosystem research company Briter Bridges. Start-up funding fell by 5.6%,


compared with a year earlier, to $2.44bn, as both domestic and international investors continued to back entrepreneurs across the continent. While activity is still skewed


towards Africa’s largest economies, smaller countries have climbed the ranks. Meanwhile, fintech and cleantech continue to dominate most deals, with start-ups in those sectors combined attracting more than half of all funding in 2020. Fintech alone accounted for over 90% of the total mergers and acquisitions volumes. Some investors are ramping up


their plans for the continent into 2021. The UK’s CDC Group announced plans in February that it was expanding its venture capital programme, which to date has committed about $140m to Africa.■ ALEXIRWIN-HUNT


Qatarlooksto boostFDI


The Qatar Financial Centre (QFC) Authority is seeking to attract $25bn of foreign direct investment (FDI) inflows by 2022, its chief executive Yousuf Al-Jaida told CNBC in an interview on January 14. This comes after Saudi Arabia


reinstated diplomatic relations with the gulf nation, ending a three and a half year hiatus. Alongside the UAE, Bahrain and Egypt, Saudi Arabia cut off land and sea borders with Qatar in 2017, accusing the country of links with terrorism. The reconciliation means a


stronger, more powerful Gulf Cooperation Council, Mr Al-Jaida said. While some economic challenges were presented by the blockade, FDI remained resilient. Inbound greenfield FDI projects to Qatar initially fell in 2017, before returning to their 2016 levels the following year, according to investment monitor fDi Markets.■ SETHO’FARRELL


www.fDiIntelligence.com February/March 2021


$25BN


QATAR’SFDI INFLOWTARGET BY2022


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96