DSOA-CII hold roadshow in Bengaluru to encourage Indian tech firms to invest in UAE

The Dubai Technology Entrepreneur Campus is on the lookout for 800 startups from a variety of vehicles including smart cities, space tech and AI.
DSOA-CII hold roadshow in Bengaluru to encourage Indian tech firms to invest in UAE
DSOA-CII hold roadshow in Bengaluru to encourage Indian tech firms to invest in UAE
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Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), an integrated free zone technology park in partnership with the Confederation of Indian Industry (CII), organized a roadshow in Bengaluru to showcase and promote investment opportunities in the UAE.

The delegation from DSOA, visited offices of leading technology companies and government bodies with the aim of boosting economic relations between the UAE and India. The delegates outlined the procedures for setting up a business at DSO and provided a general overview of the growth prospects and benefits that operating from the integrated hi-tech park brings.

The DSOA trade mission showcased its landmark project, Silicon Park, the first integrated smart city in Dubai that sets a new global benchmark for smart technology solutions. Scheduled for handover in Q2 2019, Silicon Park will comprise 71,000 square meters of office space, 25,000 square meters of commercial space, and 46,000 square meters of residential area. The community will feature a host of value-added contemporary lifestyle facilities, such as restaurants, cafés, fitness centers, running tracks and cycling trails, a shopping center, and an underground parking that can accommodate more than 2,500 cars.

Naaif Al Rustamani, Senior Associate Manager, Corporate Sales, Government of Dubai said: “Today, India is the largest trade partner of the UAE, and bilateral trade is on track to exceed US$100 billion by 2020. UAE is home to the largest population of Indian expats of over 2.6 million, which is more than 27% of the population of UAE. As part of its visit, the DSOA delegation to India aims to strengthen cooperation, exchange experiences with local Indian companies, and present the new investment opportunities as well as the unique services and facilities DSOA offers foreign companies. Through a clear understanding of diverse markets – both within India and elsewhere around the globe - DSOA endeavours to provide startups with access to world-class infrastructure and allied services to help them establish a significant presence in the GCC region and expand to the wider Middle East region.”

Advantages of DSOA

All companies registered with DSOA benefit from the advanced facilities and the prime location of its integrated technology hub that have made it the preferred choice of investors setting up business in the UAE. DSO also offers a range of multi-use warehousing and manufacturing facilities, executive offices, and land for industrial development.

As part of a free zone, investors also have various licensing options, ranging from trade and service licenses to industrial licenses. In addition, they have access to all the elements a business needs to develop and thrive, including 100% foreign ownership, 100% repatriation of capital, among many other value-added propositions.

A fast-growing free zone

DSOA ended the fiscal year 2018 recording AED576.9 million (about Rs. 1102.3 crores) in revenue while achieving a 42.1 percent increase in net profit. The free zone is currently home to 2,620 companies of varying sizes and their 40,000 employees. 81% of these companies specialise in technology, while 19% focus on commercial services and other service sectors.

A wholly owned entity of the government of Dubai, DSO operates as a free zone technology park for large enterprises as well as medium and small companies looking to set up their offices in Dubai.

Henrik Christensen, Vice President, Dubai Silicon Oasis Authority said for startups and entrepreneurs looking for an ideal place to start their tech business in the heart of Dubai, the Dubai Technology Entrepreneur Campus – (DTEC), an initiative of DSOA, offers a nurturing, supportive community from which to grow. He said that DTEC is the largest technology innovation hub in the MENA (MiddleEast and North Africa) region with more than 1000 entrepreneurs from 72 countries. He added that currently DTEC is on the lookout for 800 startups from a variety of vehicles including smart cities, space tech and AI. This, according to him, was one of the primary reasons for visiting India and in particular Bengaluru.

He added that DSO along with the other free trade zones is spearheading a project which will use AI and Blockchain to ensure that companies will get their lease, trading license and banking account with 15 minutes at the press of a button.

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