Bridging the Gap Between Global Technologies and Opportunities in the Middle East

The Middle East offers a wide range of programs and incentives for expatriate entrepreneurs looking to start or grow their businesses. At Multiplyers, we bridge the gap between global technologies and opportunities in the Gulf countries. That’s why we analyze the incentives and benefits that Gulf countries offer to foster collaboration with European countries and the United States.

Each country in the Gulf has its own approach to development, with varying local-to-expat population ratios, which in turn shapes the business landscape, creating both opportunities and gaps in the market.

For those who have lived in the Middle East for a while, you’ll know that there is a strong government vision focused on shifting the region’s reliance on oil and gas, while developing other key industries that are essential for the economic future of each Gulf nation.

In this context, I’d like to share with you the existing and developing programs in sectors such as fintech, healthcare, edtech, game development, HR tech, and other important industries that are crucial for supporting the lifestyles of citizens and ensuring they stay at the forefront of the technological revolution.

Key initiatives of the United Arab Emirates ???? include free zones such as Dubai Silicon Oasis, Jebel Ali Free Zone, and Abu Dhabi Global Market, which provide tax exemptions, full ownership rights, and simplified business setup processes. The UAE also offers investor visas, allowing entrepreneurs to live and work in the country while benefiting from its strategic location, modern infrastructure, and access to global markets.?

Additionally, government-backed entities like the Emirates Development Bank and programs such as the Dubai Entrepreneurship Academy offer funding, mentorship, and networking opportunities to support innovation and business growth. With a strong focus on fostering a thriving startup ecosystem, the UAE is an attractive destination for expat entrepreneurs seeking to expand their businesses in the Middle East and beyond.

Saudi Arabia ???? has become increasingly supportive of expatriate entrepreneurs through a variety of programs and initiatives designed to foster innovation and economic diversification. As part of its Vision 2030 plan, the government has introduced several reforms to create a more business-friendly environment, including streamlined procedures for starting businesses, offering 100% foreign ownership in certain sectors, and improving access to funding.?

The Saudi Arabian General Investment Authority (SAGIA) facilitates investment by providing licenses to foreign investors and entrepreneurs, while programs like the Saudi Venture Capital Company (SVC) provide funding opportunities for startups. Additionally, cities like Riyadh and Jeddah have vibrant entrepreneurial ecosystems, with co-working spaces, incubators, and accelerators such as the King Abdulaziz City for Science and Technology (KACST) and the Badir Program for Technology Incubators supporting innovation.?

The government also offers training and mentorship initiatives to help entrepreneurs navigate the market and scale their businesses. With significant investment in infrastructure and a commitment to creating a dynamic, knowledge-based economy, Saudi Arabia is increasingly seen as a prime destination for expatriate entrepreneurs seeking opportunities in the Middle East.

Qatar ???? has emerged as an attractive destination for expatriate entrepreneurs, offering a range of initiatives designed to support business establishment and growth. The country’s robust economic infrastructure, strategic location, and investor-friendly policies make it an appealing choice for entrepreneurs in various sectors.?

Qatar Development Bank (QDB) plays a central role in supporting local and foreign entrepreneurs, offering funding options, business development programs, and resources to help startups succeed. The Qatar Financial Centre (QFC) provides an efficient platform for businesses to operate, with benefits such as tax exemptions, full foreign ownership, and simplified registration processes.?

Additionally, the Qatar Science and Technology Park (QSTP) and various incubators and accelerators offer innovation-driven entrepreneurs access to research, development support, and a collaborative environment for scaling their businesses. Qatar also launched initiatives like the "Qatar Business Incubation Center" to nurture startups and expand their market reach. With a clear focus on diversifying its economy under Vision 2030, Qatar continues to create opportunities for expatriate entrepreneurs in sectors such as technology, energy, and healthcare, making it a favorable market for new ventures.

I also see that many people confuse Saudi Arabia's Vision 2030 ???? with the UAE's ????. Not many expats know that they are different. The UAE's vision is referred to as Vision 2030 Abu Dhabi, named after the “Capital of the Capital” — my city, where I have lived for several years and continue to enjoy my lifestyle.

??The main difference between Saudi Arabia’s Vision 2030 and Abu Dhabi’s Vision 2030 lies in their focus areas and the broader strategic goals tied to each nation’s specific needs. Saudi Arabia’s Vision 2030 is centered on reducing its dependence on oil, diversifying the economy, and developing key sectors like tourism, technology, entertainment, and renewable energy. It aims to position Saudi Arabia as a global investment hub, focusing on large-scale infrastructure projects like NEOM and the Red Sea Project.?

In contrast, Abu Dhabi’s Vision 2030 is more focused on sustainable development, economic diversification, and strengthening its position as a global business and cultural center within the UAE. It emphasizes innovation, research, and sectors such as clean energy, aerospace, and technology, with a strong focus on sustainability and the green economy.?

While both visions share similar goals of diversification and modernization, Saudi Arabia’s Vision 2030 has a more ambitious national transformation agenda, while Abu Dhabi’s Vision 2030 is more tailored to enhancing the UAE's global competitiveness.

Having lived in the Middle East for 3?? years, I still find myself asking: What exactly does this market need ? What can be built here ? Where is the low-hanging fruit ?

Of course, the landscape changes dramatically every single quarter. VCs deploy one fund with a specific focus and then close a new one with a different focus. Corporates sign strategic partnerships with governments, further shifting the environment.

Overall, I'd like to summarize my view of the current market as of Q4 2024 and pose some questions to my esteemed guests Naif AbuSaida, Sa?d EL-Saadi and Omar Al Busaidy ??? ?????????— at the online live webinar that is going to be held on my Linkedin on December 23 Monday at 6pm Dubai time. Together with the top visionaries and business experts in the Middle East, with whom I have the pleasure of working, we will find answers to all the questions posed.

Please join my LinkedIn webinar to gain insights and discover how you can bring your business to the Middle East if you're not here yet!

RSVP and schedule it to your calendar ??https://bit.ly/3ZKNxV0