BPC joins “NEXTGEN” foreign investment initiative of United Arab Emirates

ABU DHABI, 28th December, 2020 (WAM) — The Ministry of Economy announced that BPC, a global leader in banking and payments services, has joined the “NEXTGEN” foreign investment initiative.

The Swiss-based company confirmed its intention to launch its operations in the United Arab Emirates as part of the initiative to encourage foreign direct investment launched by the Ministry.

In this regard, His Excellency Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade and supervisor of the “Next Generation” program for foreign direct investment, said: “The aim of the ‘Next Generation’ initiative is to attract vital, future-focused companies to the UAE and accelerate our transition to an economy based on knowledge and innovation. BPC joining the initiative represents a new step to support the country’s vision of enhancing the business environment in the technology sector and upgrading it to global levels. BPC is also a model for the companies that we designed the initiative with the aim of attracting, due to its pioneering role in solutions payment and e-government services, and we look forward to facilitating and accelerating the launch of its business in the country during the next stage".

His Excellency added: “BPC’s decision to base itself in the UAE reflects the importance of the advantages offered by the ‘Next Generation’ initiative and confirms the attractiveness of the supportive and business-friendly environment available in the country, which has made it an ideal destination for businessmen, investors and entrepreneurs wishing to launch projects or access markets. new and develop their business".

The company provides customer payment solutions and services to more than 350 financial institutions in 115 countries, including 136 municipalities, 30 central banks, and national payment systems around the world, with a particular focus on digital banking, digital payments, e-government, and transportation and mobility.

The company seeks to make Dubai a leading headquarters for its business and one of its innovation centers, and the company will transfer more than 50 of its employees with senior and medium positions to Dubai, and will open the door for employment for a number of technical talents as part of its growth plans.

The company also intends to use the incentive package of the “Next Generation” initiative, which includes accelerating the processes of incorporation, business licensing and issuance of visas, and enabling access to banking facilities and commercial and residential leases.

For his part, Hani El Deeb, Regional Managing Director of BPC, said: “We are proud to have chosen the United Arab Emirates as a headquarters to lead the main strategic decisions and innovation of our company, especially as we share with the UAE the same vision on the priority of meeting the needs of the digital economy .. and taking over the UAE thanks to the vision and directives Its leadership is of great importance to maintaining its global ranking as the best place to work, grow, innovate and succeed, and thus seeks to support companies seeking to establish their strategic offices in the country.”

El-Deeb praised the level of support the company received through the “Next Generation” initiative, adding: “The support we received was of the utmost importance, as it allowed us to setup faster, expand at a faster rate and benefit from the high-level talent in the field of financial technology that lives and works in the country.” The Emirates, in addition to the advantages provided by the country, which allows us to receive our customers from all over the world during their innovative tours. We have had the exemplary and unparalleled support of the UAE and its government, which understands how to anticipate and adopt digital transformation and how to attract leading foreign direct investments from around the world.