The UAE establishes its position as a supportive environment for the growth and continuity of entrepreneurship

2025/02/08 2:51:06 PM

3 minutes read

Abu Dhabi, February 8/ WAM/ The UAE has established its position, as a supportive environment for the growth and continuity of new business and its diversification, especially in the emerging sectors, and has become a role model in supporting and stimulating the entrepreneurial sector through its leading steps in empowering Emirati entrepreneurs and enhancing the state’s attractiveness to attract startups, In addition to encouraging owners of small and medium enterprises to expand the sectors of the new economy.

The UAE pays great attention to the development and development of the national entrepreneurship system based on global best practices and the provision of flexible economic legislative policies that will establish emerging projects easily and accelerate the growth of business of small and medium -sized companies, especially with the continuous developments of the legislative system of the entrepreneurship in the country.

National efforts continue to provide a competitive climate for entrepreneurs and enable them to attract investments, promote their products and services, and help them to obtain the necessary funds and enhance the culture of entrepreneurship among society groups, in a way that establishes the UAE’s position as a leading global destination for entrepreneurship and emerging projects, in light of the targets of “We UAE Vision 2031” And in conjunction with the general community, which enhances the importance of entrepreneurship in the state, because of its concrete economic effects that are directly reflected on society.

The Ministry of Economy launched the new system of entrepreneurship last November, which represents a road map to enhance the competitiveness of national entrepreneurship and move forward towards building a better future for entrepreneurs and entrepreneurs and aims to enhance the competitiveness of the UAE and increase the chances of success of entrepreneurs from 30% to 50% by 2031.

The system included 4 major initiatives, including, “Leadership Fund”, an initiative that provides financial allocations worth 300 million dirhams, to support entrepreneurial projects, especially those led by Emirati youth by providing facilitated financing and training and guidance programs linking them with industry experts and investors. The system includes the “Emirates Business Entrepreneurship” initiative, which aims to unify national trends, to enhance the growth of small and medium enterprises business in the country, support cooperation between the concerned authorities, and the proposal of incentives and initiatives that contribute to empowering entrepreneurs, in addition to the initiative “Establishing a Unified National Platform For entrepreneurship, “aimed at unifying the efforts and achievements of the entrepreneurial system and aims to achieve the highest standards in the ease of doing business to reach higher success rates.

The system also includes the initiative of the “Emirates Youth for Entrepreneurship”, which was announced launched a few days ago to support emerging projects for Emirati youth, and create an incubator environment that enables them to lead entrepreneurial projects and contribute to sustainable economic development.

The Entrepreneurship Sector and Small and Medium Enterprises in the country succeeded in consolidating the position of one of the main possibilities for enhancing economic diversification, as UAE youth established 25 thousand small and medium -sized companies during the year 2024, and small and medium -sized companies acquired 94% of the total companies operating in the UAE markets, and contribute 63.5 % In GDP, non -oil GDP until the end of mid -2022, in addition to the presence of more than 50 incubators and speed of government and private businesses in the UAE markets.

The UAE topped the first rank in the Middle East and North Africa region in terms of the number of bold investment deals and the second in terms of the value of these investments that were attracted by the emerging capital markets, in the first half of 2024, as the bold capital deals increased by 12% in the UAE, compared to A global decrease of 18% in 2024.

The UAE ranked first in the world for the third year in a row in the report of the International Observatory for Entrepreneurship for the year 2023/2024 Global Entrepreneurship Monitor “GEM” where the country recorded an average of 7.7, which is a record number for the first time in the date of the report since its launch, superior to many advanced economies as The state was classified as the best place to start and practice new business in the world, and according to the report it ranked first in 12 out of 13 indicators included in the report, most notably “financing for entrepreneurial projects”, “easy access to financing” and “commercial and professional infrastructure” “Research, Development and Transfer of Knowledge”.