Waymo, the self-driving division of Google's parent company Alphabet, recently raised $2.25 billion in its first external round of funding. And if you thought the UAE had nothing to do with it, think again. 

The investment was actually led by three members: private equity firm Silver Lake Partners, the Canada Pension Plan Investment Board, and the UAE's sovereign wealth fund Mubadala Investment Company. The latter is a global UAE-owned investment company aimed at creating sustainable financial returns via a globally integrated and diversified economy, according to its site.

Other investors who pitched in include venture capital firm Andreessen Horowitz. And Waymo's efforts have been unstoppable. 

Just a couple of days after the funding, Waymo unveiled its fifth-generation self-driving system, claiming its updated sensors are stronger than ever before. After all, it's been in the works for a decade. 

The renewed system now includes 29 cameras integrated around the body of the vehicle, meaning it has the ability to see a stop sign 500 meters away, according to The Verge. 

Waymo's CEO John Krafcik says their aim is "to build and deploy the world's most experienced driver."

With the new investment, it is unclear what the current valuation of Waymo is. Waymo first launched Google's self-driving project in 2009 before being acquired by Alphabet. Lots of investment, work, and research has been put into the project to ensure driver safety. Its self-driving vehicles have driven more than 20 million miles (32,186,880km) on public roads. 

And the UAE wants to be a part of this historic project, especially considering the nation's efforts in this domain. In recent years, several self-driving taxis and vehicles have been unveiled in Dubai. The emirate is one of the only cities in the region working on making its roads viable for e-cars, even if there's still quite a lot to be done. 

The country's Roads and Transport Authority expects 25 percent of all trips in Dubai to be autonomous by 2030. 

According to a poll conducted by YouGov earlier this year, nearly half of UAE residents will likely own a self-driving car in the next five years ... if they are accessible to them. And it seems like they will be. 

Last year, it was announced that driverless vehicles may hit the Gulf nation's roads in 2021 as the country is taking it seriously in terms of regulations. 

Last month, Dubai announced new legislations to make it easier for driverless vehicles to be tested on the emirate's roads. The new laws fall under the Dubai Smart Mobility Strategy with an aim "to reduce the cost of transport, carbon emissions and accidents, besides saving hundreds of million hours wasted in driving conventional vehicles," Ahmed Hashim Bahrozyan, chief executive of the Public Transport Agency and chairman of the Smart and Sustainable Transport Committee at Roads and Transport Authority, once said.

Saudi Arabia is opening its doors to entrepreneurs like never before and has now unveiled a visa scheme that makes establishing a business so much easier. 

The newly launched "instant visa" was announced on Monday by the kingdom's Minister of Human Resources and Social Development, Ahmed Al-Rajhi. 

"We are pleased to announce the launch... which will have an important role in supporting male and female entrepreneurs, and stimulating and accelerating business growth," Al-Rajhi wrote in a tweet. 

The official explained that the scheme will have a positive impact on young Saudis who head startups and small businesses. It is also expected to help "boost economic growth and accelerate business expansion plans." 

The new visa has been in the works for months and was first announced by Al-Rajhi last year. At the time, the minister said local officials were working on coming up with tools set to support small business owners. 

According to Nasser Al Hazzani, the ministry's spokesman, the government body carried out loads of studies to make sure the new visa meets the needs of small businesses when it comes to migrant labor. He also added that its launch will have a positive "impact on Saudization rates during the coming years."

This is because those who are granted instant visas will have to implement the kingdom's Saudization program "Nitaqat" and hire Saudi nationals alongside expat workers. 

All instant visas will be processed electronically and granted to businesses established in the past six months depending on the kind of commercial activity.

In recent years, Saudi Arabia has been veering towards diversifying its economy by changing its visa schemes and bolstering several new sectors.

This is all being guided by Vision 2030, an ambitious blueprint launched by Crown Prince Mohammed bin Salman. The scheme is resulting in a major shift from the previously oil-dependent economic structures and bringing forth a more diverse strategy. 

Instead of solely focusing on oil sales, the kingdom is now generating revenues from leisure tourism, sports, and entertainment among others. 

The country's officials are also working on pushing the country's business growth further by supporting local entrepreneurs, attracting investors, and building a welcoming environment for businesses.