Page 97 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/25/24, 3:10 PM Anti-fraud advertising platform VeraViews launches in UAE under Ministry of Economy's NextGen FDI Program
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.

Launched in 2022, NextGenFDI aims to support the growth of the nation’s knowledge-driven economy by attracting
high-growth and high-potential companies to relocate to the UAE. To date, the program has welcomed companies

operating in future-focused sectors such as robotics, precision fermentation, hybrid aviation and off-grid
concentrated solar power.

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