Page 582 - MOE ENGLISH PR REPORT

Page 582 - MOE ENGLISH PR REPORT - FEBRUARY 2024

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2/23/24, 10:19 AM KERNO to manufacture Enterprise-class infrastructure products in the UAE as new member of NextGenFDI Program - mid-east.i…
expected to be in full operational mode by the 3rd quarter of this year, with the first UAE-
made enterprise-class products being delivered to customers by the 1st quarter of next year.

HE Dr Thani Al Zeyoudi, Minister of State for foreign Trade said: “KERNO is an important and

welcome addition to the NextGenFDI program, contributing to the UAE’s progress towards
becoming a technology-driven knowledge economy. With the rapid digitization of our societies,

there is significant demand from large private and public sector organisations regionally and
globally for the enterprise-class IT solutions and products that KERNO will design, develop and

manufacture in the UAE. This is another example of the NextGenFDI program acting as a
catalyst for investment, expansion and growth in the UAE’s dynamic technology sector.”

Demetrio Russo, CEO of KERNO said, “We feel privileged to be a part of the NextGenFDI
initiative as we recognize the immense potential of the Middle East region. The UAE is

currently undergoing a digital transformation journey, and we are thrilled to be a part of this
endeavor. It gives me immense pleasure to see KERNO become a part of the NextGen FDI

program, and I would like to extend my gratitude to His Excellency Dr. Thani bin Ahmed Al
Zeyoudi for welcoming us. We are determined to establish a long-term presence and become

one of the key partners in implementing the “Made in UAE” technology strategy by localizing
our design and manufacturing efforts and collaborating with the local ecosystem.”

The Ministry of Economy’s NextGen FDI initiative has been credited with expanding the UAE’s

advanced technology ecosystem by providing companies seeking to relocate to the UAE with
numerous incentives including fast-tracked and simplified licensing, set-up and visa processes,
accelerated access to banking services and attractive rates for commercial and residential

leases. The initiative has been designed to enhance economic diversification and stimulate the
growth of a knowledge-based, innovation driven economy in line with the UAE’s national

objectives.