UAE Targets 20 Unicorns by 2031

10 November 2021

In line with the Entrepreneurial Nation project, the UAE will establish a Dh1 billion private equity fund to support UAE-based start-ups and SMEs operating in key sectors, targeting to become home to 20 unicorns by 2031 by attracting skilled talent and foreign capital.

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29 September 2021

A 5 Year Multiple-Entry Visa Made Available for Visitors

The Federal Authority for Identity and Citizenship (ICA) announced that a 5-year multiple entry visa will now be issued for all nationalities. The visa enables tourists to enter multiple times on self-sponsorship and remain in the country for 90 days on each visit, which can be extended for another 90 days.

09 June 2021

H.H. Sheikh Hamdan Issues Directives to Reduce Business Procedures By 30%

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, issued directives to reduce government procedures for doing business by 30%. This move is part of the efforts to reduce the cost of doing business and further boost economic growth in Dubai and consolidate its status as a global investment and business destination.

28 July 2021

Dubai-Based Swvl, the 1st ME Unicorn to List on Nasdaq US

Founded in 2017 by Mostafa Kandil, Mahmoud Nouh, and Ahmed Sabbah, Swvl started as a bus-hailing service in Egypt, enabling users to travel within a city by booking seats on buses on fixed routes. It later expanded the service in Kenya and Pakistan and moved its headquarters to Dubai. Today Swvl is to finalize an agreement with a SPAC that makes it the first Middle East USD 1.5 billion Unicorn to list on Nasdaq US.

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