Page 103 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/25/24, 3:12 PM Anti-Fraud Advertising Platform Veraviews Launches In UAE Under Ministry Of Economy's Nextgen FDI Program
malicious actors from the sector, at the same time contributing toward making the UAE the
safest digital advertising ecosystem in the world.

According to His Excellency Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, the

announcement represents an important addition to both the UAE's innovation ecosystem and
its media landscape.“The NextGen FDI initiative continues to welcome cutting-edge

companies that are developing and deploying advanced technology to enhance some of our
most important industries. VeraViews' distributed ledger technology based advertising

platform has the potential to revolutionize the media sector here in the UAE – and, ultimately,
across the world. Advertising is a crucial means for companies to build their business, expand

their customer base and promote their products and services, and it is vital we are able to
create an industry that is transparent and trustworthy, and an arena in which every dollar
spent by our enterprises receives a dollar's worth of value. As the region's leading media

marketplace, the UAE welcomes the VeraViews team and looks forward to working in unison

to establish a new advertising architecture that can earn the full confidence of brands,
publishers and customers.”

VeraViews CEO Mark Firth, who built his knowledge of the region's advertising landscape
when supporting the expansion of UAE tech unicorn Dubizzle as part of the management

team appointed by Dutch-based internet investment firm Prosus Group, believes the UAE is
the ideal home for the company's global headquarters.“The media industry in the UAE is

dynamic and diverse, with a mature blend of platforms, publishers, agencies and networks.
VeraViews believes our distributed ledger technology can add significant value to the sector

by helping to eliminate fraud and prevent the dissemination of misinformation or other forms
of harmful content. We are hugely appreciative of the support the NextGen FDI program has

offered and welcome the opportunity to work with both the UAE government and industry
stakeholders to build an advertising ecosystem that benefits everyone.

“This is the beginning of an exciting new chapter in the VeraViews story and I believe that we

can create a new model of excellence for the UAE that can be replicated in media markets
right around the world,” added Mr Firth.

The global digital advertising market is currently worth in excess of US$550 billion, with the

Middle East one of its fastest-growing regions. The region's advertising market is projected to
reach US$6.9 billion by the end of 2024, with online advertising accounting for well over half

that total. The United Arab Emirates remains the second-largest advertising market, with
US$1.8 billion spent in 2023.

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