Alia Al Mazroui, Italian entrepreneurs, see the competitive investment climate in the Emirates
Milan, May 19/ WAM/ His Excellency Alia Bint Abdullah Al Mazrouei, Minister of State for Entrepreneurship, reviewed the competitive climate of the Entrepreneurial Environment and Small and Medium Enterprises in the country, and its role in enhancing its attractiveness to the pioneers and entrepreneurs from all over the world, as well as the flexible economic legislation provided by the UAE market to establish and start emerging projects in various activities and economic fields.
This came during a dialogue session for her Excellency with Claudia Barzani, President of the Italian Stock Exchange, entitled “Entrepreneurship Without Borders”, which was held within the work of the third edition of the “Investopia Europe” dialogues in Milan, where the session witnessed the participation of more than 100 Italian businessmen, and focused on developments in the business scene in the UAE and Italy, and the importance of empowering women in the sectors and economic and commercial activities.
Her Excellency emphasized that the UAE and the Republic of Italy have a distinguished economic partnership in various fields, and they are gathered by joint visions regarding the focus on the industries of future economies, sectors and digital and technological activities, which constitutes an opportunity to push the paths of cooperation in the areas of entrepreneurship to more competitive and advanced levels, in a way that serves the aspirations and vision of the two friendly countries.
She said that the UAE, thanks to the directives of its wise leadership, paid great attention to enhancing the contribution of women in various economic sectors and activities, by encouraging it to establish new pioneering projects that contribute to enhancing the economic development of the state, and supporting the highest levels of gender balance, as Emirati business leaders have more than 135 thousand commercial licenses in the UAE market by the end of 2024 and an increase of 23% over the year 2023, and there are also more From 2000 new Emirati businesswomen companies during the first half of the year 2024, which confirms their strong presence in the Emirati business community.
Her Excellency added that small and medium -sized companies are the main driver for the growth and sustainability of the national economy, as it plays a pivotal role in enhancing the shift towards economic growth based on knowledge and innovation, and supporting the achievement of the targets of the “UAE 2031” vision by raising the contribution of the state’s gross domestic product to 3 trillion dirhams by the next decade, so the state was keen to launch the initiatives and strategies supporting To provide the funds and potentials necessary to develop the business of small and medium enterprises and enable them to reach global markets depending on the geographical location that the UAE enjoys, as it is a link linking the east of the world to its west and north to its south.
In this context, her Excellency participating in the session was briefed on the services and potentials granted by the national program for small and medium enterprises for entrepreneurs, which numbered more than 25 services and incentive, as well as the “100 companies from the future”, in addition to the initiatives of the entrepreneurial system in the country, which aims to enhance the competitiveness of the UAE and increase the chances of success of entrepreneurs from 30% to 50% by 2031, and among the most prominent of these initiatives “Fund” Leadership and “UAE Council for Entrepreneurship”.
His Excellency Alia Al Mazrouei invited business entrepreneurs in Italy to expand their business and start new projects in the UAE market with various economic activities, and benefit from the momentum available opportunities in it, especially since the UAE came in the first place globally for the fourth year in a row in the Global Entrepreneurship Report for the year 2024/2025, and it was also classified as the best place for entrepreneurship and small and medium enterprises, from between 56 economies around the world, and small and medium -sized companies acquire 95% of the total companies operating in the country.
Her Excellency indicated that the Ministry of Economy focused on its projects and initiatives that support entrepreneurship on localizing digital transformation and advanced technologies in the projects of small and medium -sized companies and motivating them to adopt artificial intelligence, which we also focus on in partnership and cooperation with the ministries and concerned authorities at the regional and global levels, especially since building the economy of the future and knowledge lies in technology And innovation.
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