UAE new-economy firms jump 37% to nearly 125,000

Dubai's new-economy firms have surged to nearly 125,000, marking a 37% increase from the previous year, according to Economy and Tourism Minister Abdulla bin Touq Al Marri. The minister highlighted this figure during Investopia Bridge 2026 in Abu Dhabi, where he emphasized the importance of technology-driven businesses over traditional sectors and fossil fuels.

The UAE government prioritizes advanced technologies like artificial intelligence (AI), digital economy, e-commerce, renewable energy, and green technologies within this new-economy classification. Bin Touq clarified that AI is not merely a standalone sector but a powerful tool that enhances manufacturing productivity, logistics, financial services, tourism, and energy efficiency.

This push for a new economy is one of four main priorities under the 'We the UAE 2031' initiative, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum in November 2022. The roadmap aims to lift foreign trade to Dh4 trillion and increase tourism's GDP contribution to Dh450 billion. Bin Touq also noted that Investopia, a government-run investment platform, has intensified its focus on Africa this year, aiming to build partnerships in infrastructure, financing, industrial capacity, and investment corridors.

Since its launch, Investopia has signed over 32 partnership agreements and memorandums of understanding with various entities. The UAE has consistently been Africa's largest investor, with outward foreign direct investment (FDI) flows reaching $63.35 billion in 2025, up from $55.56 billion in 2010. The UAE ranks fourth globally in overseas investments, trailing only the United States, China, and the European Union.

Between 2019 and 2023, more than $70 billion in green, energy, and renewable energy projects were invested in Africa by the UAE, with tourism among the top five investment sectors in Africa.