Page 59 - MOE ENGLISH PR REPORT - DECEMBER 2024 (International)

Press Release

Enhancing cooperation in the SMEs sector in the two countries

H.E. Alia Al Mazrouei said: “The UAE and Japan share a common vision of developing the SME
sector as a cornerstone of economic growth and sustainability. In line with this, the Ministry of
Economy has prioritised fostering an entrepreneurial environment and supporting the growth of
national start-ups within its strategies and plans. We have introduced a new entrepreneurial
ecosystem based on several initiatives, including the establishment of the ‘UAE Entrepreneurship
Council,’ a unified national platform to facilitate business operations, and the launch of the
‘Entrepreneurship Fund,’ which allocates AED 300 million in incentives to empower graduates to
embrace entrepreneurship.”

Al Mazrouei added: “Tokyo Investopia is a significant platform to discuss the future of the SME
sector in both countries, facilitating the exchange of experiences and insights on global trends in
financing emerging projects by investors and venture capital funds. It aims to support these
enterprises in expanding into new markets, as well as to discuss flexible economic policies to
improve the competitiveness of the entrepreneurial environment in both the Emirati and Japanese
markets.”

The second panel discussion themed ‘New Trends Shaping the Investment Landscape in Japan and
the UAE,’ explored the rapidly evolving global investment climate, and mechanisms for adapting
to global economic transformations and shifts in local policies. It also highlighted the key sectors
driving economic diversification in both countries and the emerging opportunities for investors
and cross-border partnerships.

The third session, titled ‘Manufacturing Momentum: Exploring Opportunities for Japanese
Companies in the UAE,’ highlighted the UAE’s accelerated industrial strategy, solidifying its
position as a global hub for high-tech and sustainable manufacturing. From cutting-edge robotics
to green energy initiatives, the UAE presents unparalleled opportunities for Japanese companies
by combining Japan’s expertise in precision engineering and innovation with UAE’s visionary
leadership and advanced capabilities in this vital sector.

The fourth session, ‘Exploring the New Economy: Opportunities for Japan-UAE Collaboration in
Innovation and Technology,’ focused on the rise of the new economy across Asia, with discussions
on innovations in AI, robotics, and space, along with investments in fintech and digital assets.

The fifth session, themed ‘The UAE Advantage as a Leading Investment Destination,’ underscored
the key sectors driving the UAE’s appeal to foreign investors and discussed opportunities for
increased mutual investments between the UAE and Japan in the near future. It also showcased
key indicators demonstrating the continued growth of foreign investments in the UAE, which
ranked second globally after the United States in the number of new foreign direct investment
(FDI) projects in 2023, with 1,323 new projects - a 33 per cent increase from 2022. Additionally,
the UAE saw FDI inflows of $30.688 billion in 2023, marking a robust 35 per cent growth
compared to the previous year.