Zencargo, a pioneer in digital freight forwarding with headquarters in the UK, has joined the NextGenFDI project, according to the Ministry of Economy.
In order to integrate into the UAE’s technological, commerce, and logistics ecosystem and to use the nation as a base from which to grow operations into Africa and South Asia, the business intends to set up shop there.
The UAE’s Trade Tech initiative, which was started in collaboration with the World Economic Forum to speed up the digitalization of global supply chains, improve customs procedures, improve developing countries’ access to the international trading system, and ignite a new era of trade growth, is supported by Zencargo’s presence in the UAE.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said, “The UAE is a champion of trade innovation and supports the harnessing of advanced technology to catalyze global trade. Zencargo’s decision to open operations in UAE is the latest example of a ground-breaking company taking advantage of our NextGen FDI programme, and the UAE’s dynamic business ecosystem, to pursue their next growth stage, which includes the expansion into new markets. Their utilisation of advanced technology to revolutionise freight forwarding is fully aligned with the UAE Trade Tech Initiative, which seeks to deploy the tools of the Fourth Industrial Revolution to bring the global trading system into the 21st Century.”
Commenting on Zencargo’s decision to establish operations in the UAE, Co-Founder Richard Fattal said, “It’s my pleasure to be here in the UAE. At Zencargo, we’re delighted to be expanding in the GCC region, which is undergoing so much growth and with a clear and open attitude to facilitating global trade that we find deeply encouraging. NextGen FDI and the UAE’s free port strategy are clear examples of this, and we are excited to be helping businesses in the region to unlock smarter shipping decisions and connect them with the tools to gain more control over their supply chains.”
A goods forwarder named Zencargo utilises software to provide its customers access into their supply networks. In 2017, it was established in London, and since then, it has grown to include the UK, Benelux, North America, China, and East Asia. With the assistance of the NextGenFDI project, which supports innovative technology enterprises, the company is now expanding to the UAE.
Zencargo may gain from the NextGenFDI programme in a variety of ways, including quick incorporation and licencing, easy access to real estate and financial resources, and simplified visa processing. This will benefit the UAE’s knowledge-based economy and help Zencargo expand its operations there.
