To draw in top talent and innovation the UAE has launched multiple types of long-term residency alternatives including 5- and 10-year visas. These programs are intended to appeal to investors, entrepreneurs, professional workers and students.
Attracting talent to the UAE has been considerably simpler in recent years according to a top official speaking at Gitex Global on Monday. This is because the country has created an ecosystem and many of new initiatives including long-term residency programs like Golden Visas and citizenship for talented individuals.
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The president of the United Arab Emirates’ advisor, Faisal Al Bannai, secretary-general of the Advanced Technology Research Council (ARTC) stated that many qualified persons who were granted Golden Visas are now citizens of the United Arab Emirates.
Al Bannai highlighted that the Advanced Technology Research Council (ARTC) operates ten research centers in the United Arab Emirates housing more than 1,300 researchers from 70 different nations. He continued by saying that these businesses together with G42 and Edge, are drawing top talent to the nation. He said these things on Monday at Gitex Global at a fireside talk titled AI Leadership: Steering Societal Transformation.
Reflecting on the difficulties in attracting top talent a few years ago Faisal Al Bannai said that today’s creative ventures and the UAE’s well-developed ecosystem have made it much easier. He underlined that talent and investment had come from all over the world since long-term residency schemes such as the 10-year and 5-year visas for professionals, investors, students and entrepreneurs were introduced. Dubai alone has issued hundreds of 10-year visas since the Golden Visa program was introduced before the outbreak.
Additionally, Faisal emphasised the UAE’s transition to a knowledge-based economy highlighting collaborations with major international firms and investments in cutting-edge technology. He underlined the value of artificial intelligence and stated that the UAE is dedicated to leading this area. He forecasts that within the next several years artificial intelligence will take over regular decision-making responsibilities in domains including scheduling, hospitality and network administration.
Speaking at Gitex Global, UAE Minister of Economy Abdullah bin Touq Al Marri covered the country’s macroeconomic objectives. He brought up the UAE’s goal of having the non-oil sector contribute 80% of the GDP by 2030, up from 74% now.
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