14 Jun 2024 23:54

Mobile & Digital

UAE’s Booming Tech Market Signals Significant Growth Opportunities to Polish Businesses

A delegation from Dubai Internet City (DIC) – the region’s largest specialised technology business park – will visit Poland for a five-day roadshow between the 24 to the 28 September as part of its outreach to engage Polish entrepreneurs and business leaders, along with those in the wider Eastern European region.

The trip comes at a time when relations between Poland and the UAE are growing in strength. With bilateral trade valued at US$1 billion (AED3.67 billion) back in 2015 according to the Embassy of the Republic of Poland in Abu Dhabi, economic exchange between the two countries has seen a steady increase, while tourism is also on the rise – with an estimated 70,000 visitors having travelled between them during the past half year.

Faisal Hammoud, Head of Business Development for Dubai Internet City (DIC) and Dubai Outsource City (DOC), said: “Due to its strategic geographic location, ease of access and entry for businesses, and the announcement of landmark new federal laws that will allow 100 per cent foreign ownership in certain industries, we can predict that Dubai’s growth trajectory is set to escalate rapidly in the upcoming years.”

He added: “We foresee lucrative trade and investment opportunities for Polish businesses at DIC. It is encouraging to note that DIC is a key contributor to Dubai’s vision to become one of the world’s smartest and most innovative cities. Our easy business set-up policies and diverse community – which is home to businesses of all sizes, from industry-leading multinationals, to homegrown success stories and early stage startups – enables businesses to thrive, and helps them realise their growth potential.”

Valued at nearly US$8 billion (AED29.4 billion), the UAE’s domestic IT market is expected to grow at an average of 5 per cent annually between 2017 and 2022, as per figures from the International Data Corporation (IDC). On the other hand, Poland’s IT market was worth US$16.5 billion (AED60.6 billion) in 2017, having grown 1.7 per cent over the previous year. The country’s economy grew by 4.6 per cent in 2017 and is set to surge 4.5 per cent this year.

Speaking on the investment potential for Polish companies, Moneer Faour, Dubai Bureau Chief at the Polish Investment and Trade Agency, said: “We are pleased to partner with DIC on its visit to Poland. The Polish economy – especially its tech industry, through the evolution of local start-ups – is rapidly gaining momentum. With Dubai’s tech landscape evolving at its current pace, we believe that the time is right for businesses in Poland to consider branching out to the city via Dubai Internet City to reach a wider global market.”

The roadshow will present networking opportunities to C-suite executives, while encouraging Polish business leaders and decision makers to explore possible collaborations in Dubai’s private and public sectors.

DIC is home to over 24,000 professionals working across 1,600 tech companies, including leading Polish names such as Comarch and RTB House. Earlier this year, companies in DIC announced over US$2 billion secured in investments since the business park’s launch.

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