UAE aims to convert oil wealth into tech prowess

The Middle East has long been thought of as an oil region, but the United Arab Emirates aims to change this with an intense focus on growing the country’s technology and startup scene.
For the first half of 2022, the Middle East region brought in $1.73 billion in investments across 354 deals, up from more than $1.2 billion in the first half of 2021 — a 64% year over year growth. The UAE took in 46% of the total venture capital received in the Middle East and Africa in 2021, according to the country’s Ministry of Economy.
H.E. Omar bin Sultan Al Olama, United Arab Emirates minister of artificia

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