Dubai set to become Middle East’s Silicon Valley
In a bid to diversify Dubai’s economy from service-oriented to production based, the government has launched the construction of the Dubai Silicon Oasis (DSO). The scheme is part of a chain of technology projects aimed at attracting advanced technological industries to the Gulf.
The Dubai Airport Free Zone Authority (DAFZA) will oversee the establishment of DSO. DAFZA’s Director General, Mohammed Al-Zarouni confirmed that German chipmaker Communicant Semiconductor Technologies will build a $1.7 billion plant in the DSO by 2007.
Communicant’s shareholders include Intel, DAFZA and the Brandenburg Investment Bank. Relying on both private and public financing for the DSO plant, the company has already been allocated $325 million from the government of Dubai and another $300 million will come from the German government and Bradenburg. — (menareport.com)
© 2002 Mena Report (www.menareport.com)