The UAE Ministry of Economy has announced that Zencargo, a UK-based pioneer in digital freight forwarding, is the latest company to join its NextGenFDI program.
The company plans to establish operations in the Emirates, while also using the country as a platform to expand its operations into Africa and South Asia.
Zencargo’s presence in the UAE is considered an endorsement of the UAE’s Trade Tech initiative, which was launched in partnership with the World Economic Forum to accelerate the digitalisation of international supply chains, enhance customs procedures, improve developing countries’ access to the global trading system and spur a new era of trade growth.
Commenting on Zencargo’s decision to establish operations in the UAE, Co-Founder, Richard Fattal, said: “We are 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.”
Founded in London in 2017, Zencargo is a freight forwarder that uses proprietary software to provide clients with a comprehensive overview of their supply chains. Its platform, powered by machine learning, digitises the end-to-end inbound supply-chain process, offering complete visibility at each stage from order to delivery. Zencargo has quickly developed a multinational client base and is now adding the UAE to its operations, which currently span offices in the UK, North America, Benelux, China and East Asia.
The NextGenFDI program, launched in 2022, is supporting the growth of the UAE’s knowledge-based economy by enabling rapid incorporation and licensing, ready access to banking facilities and real estate and facilitated visa issuance for advanced technology companies who seek to operate in the UAE. The initiative comprises government and private sector stakeholders including DIFC, Abu Dhabi Global Market, the Dubai Multi Commodities Centre, Dubai Internet City, Dubai South, Emirates NBD and the digital banking platform, Wio.