Dubai Airport Freezone (DAFZ), part of Dubai Integrated Economic Zones Authority (DIEZ), will be launching its metaverse called METADAFZ during Gitex 2022. The launch is part of the Dubai metaverse strategy, and   aims to attract foreign direct investment (FDI) and businesses to the free zone, by uncovering DAFZ’s unique offerings, products, and solutions to advance the Emirate’s leading position as a hub for competitive and constructive technology. METADAFZ will enable clients from across the globe to conduct meetings via a virtual platform, offering a unique and semi-realistic experience regardless of the physical location. The innovative initiative offers an alternative to the traditional way of conducting business activities, and empowers company representatives to discuss future work prospects, as well as how to launch businesses and projects in Dubai. Amna Lootah, Director-General of Dubai Airport Free Zone (DAFZ), said, “Since its establishment more than 26 year...

  According to a recent report by FDI markets published in FDI Intelligence, UAE topped the list of countries with most crypto related FDI projects. UAE had a whopping 15 projects making it number one. It was followed by the USA which attracted 11 crypto projects; Brazil came in third with 7 projects, followed by UK, Lithuania at 4th place with 5 crypto projects, then Singapore in fifth place with 4 projects, followed by Canada, Australia, ( 3 projects each) and France, Sweden with 2 projects  Some 98 foreign direct investment (FDI) projects were announced in crypto related activities in the first half of 2022, an increase of 145% from the same period in 2021. This number was higher than any pre-recorded database since 2016. It was also double the figure for the whole of 2021. Most of the companies who announced FDI projects in H1 of 2022 were those that involve crypto services, such as crypto exchanges, who set up new physical presence in foreign countries. This is true...