Page 584 - MOE ENGLISH PR REPORT - FEBRUARY 2024

2/23/24, 10:19 AM KERNO Embarks on UAE Manufacturing Venture | Latest Dubai Business and Tech News on Arabian Post
(SMT & Assembly) to be fully operational by the 3rd quarter of this year, with the initial
batch of UAE-made enterprise-class products reaching customers by the 1st quarter

of the following year.

Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, emphasizes the significance

of KERNO's inclusion in the NextGenFDI program, applauding the company's
contribution to the UAE's progression toward a technology-driven knowledge

economy. Dr. Al Zeyoudi acknowledges the growing demand for enterprise-class IT

solutions and products regionally and globally, positioning KERNO as a catalyst for
investment, expansion, and growth in the dynamic technology sector.

The Ministry of Economy's NextGenFDI initiative stands as a testament to its

commitment to expanding the UAE's advanced technology ecosystem. The program
provides incentives such as streamlined licensing, setup, and visa processes, along

with accelerated access to banking services and attractive rates for commercial and

residential leases. This initiative aligns with the UAE's national objectives, aiming to

enhance economic diversification and stimulate the growth of a knowledge-based,
innovation-driven economy.

KERNO's venture into local manufacturing underscores a significant stride towards
the UAE's goal of becoming a technological hub. As the company aligns with the

NextGenFDI program, the collaboration between KERNO and the UAE's ecosystem

sets the stage for a transformative journey in advancing the nation's technology

sector.

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