The UAE Ministry of Economy has announced that Zendata, a global leader in cybersecurity, is the latest company to join its NextGen FDI programme.

The programme provides a suite of market-entry fundamentals to enable cutting-edge companies from around the world to establish or expand their operations in the UAE and, in doing so, support the development of the country’s knowledge-based economy. Zendata, which is actively recruiting as it expands within the UAE and across the GCC, has already set-up its regional HQ in the UAE.

Based in Switzerland, Zendata is a recognised cybersecurity leader whose range of managed services and products protect people, corporations, organisations and governments from the ever-evolving threat of cyberattacks.

Key partner

Zendata is one of the official cyber experts of the Swiss federal government as well as managing the cyber security of some of the world’s biggest companies. The firm is already a key partner in developing the UAE’s cyber defence, threat intelligence and threat resilience capabilities, and will now use the NextGenFDI programme to deepen its presence in the UAE by establishing a regional headquarters in Abu Dhabi and expand into the wider Menasa region.

UAE Minister of State for Foreign Trade, Dr Thani Al Zeyoudi, said: “Zendata is a recognised global leader in the field of cybersecurity, arguably the most important security challenge that our highly digitised societies now face. By joining the NextGen FDI programme, Zendata will be able to benefit from the UAE’s welcoming business ecosystem and facilitate their expansion across the GCC, while also helping us to enhance our ability to develop and deploy the latest cutting-edge technologies to protect our critical infrastructure, our organisations and our people.”

According to recent studies, the cost of cybercrime – such as damage and destruction of data, stolen money, identity theft, fraud and potential for severe reputational harm for businesses handling customer details – is predicted to grow to $10.5 trillion by 2025. An IBM report demonstrated how a data breach caused by a cyberattack can be financially devastating to a business, with an average total cost reaching $4.35 million. The Middle East is ranked second behind the USA for having the highest average cost-per-data breach at over $8 million.

Deep tech ecosystem

Steven Meyer, CEO of Zendata, said: “The UAE’s focus on developing innovation-driven deep tech ecosystems is backed up with innate institutional understanding, enabling policies and insightful leadership. As a company focused on delivering bleeding edge technology solutions that help the world’s governments and leading companies manage cyber-security scenarios, we are delighted to join a programme that reflects the UAE’s commitment to supporting some of the world’s most exciting and exceptional digitally-enabled businesses.” 

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