Page 479 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

Qualcomm Ventures supports over 150 active portfolio companies and has achieved numerous
successful exits. The NextGenFDI initiative will assist any Qualcomm Ventures' portfolio companies
aiming to expand within the UAE and the region.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, hailed Qualcomm Technologies'
involvement as a significant milestone for the UAE's NextGen FDI Programme. He noted that this
partnership would enhance the nation's innovation ecosystem and economic efforts to become a
global technology hub.

Al Zeyoudi stated, "We met Qualcomm at CES 2025 in Las Vegas and were pleased to know of their
plans for the UAE. Qualcomm’s innovations in 5G, AI and the Internet of Things are already playing a
crucial role in advancing our digital transformation and we are excited about the potential to extend
their impact through the NextGen FDI initiative."

Qualcomm's Commitment to UAE's Growth

Akash Palkhiwala, Chief Financial Officer and Chief Operating Officer of Qualcomm Technologies,
expressed pride in establishing a presence in Abu Dhabi. He said that advancements in 5G, AI, and
IoT are driving technology ecosystem growth. "Qualcomm is proud to be present now in Abu Dhabi
and to support the NextGen FDI initiative," he stated.

Palkhiwala added that Qualcomm is already collaborating with UAE companies on local and global
technology solutions based on their offerings. He highlighted Core42’s launch of Inference as a
Service powered by Qualcomm Cloud AI Accelerators as an example of such collaborations.
The involvement of Qualcomm Technologies is expected to bolster the UAE’s digital ambitions by
enhancing its 5G and AI capabilities. This development will open new possibilities for businesses,
consumers, and government services while reinforcing the country's position as a global centre for
innovation.

https://www.onearabia.me/business/qualcomm-joins-uae-nextgen-fdi-programme-
advancements-5g-ai-iot-011-99381.html