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9/23/25, 3:53 PM World News | Minister of Economy: UAE Seeks to Increase Number of Startups to More Than Two Million by 2031 | LatestLY
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He pointed out that the campaign supports these national goals by providing an enabling environment that empowers youth to
launch their entrepreneurial ventures and achieve growth and expansion.

He explained that the UAE possesses comprehensive strategies that encompass economic clusters, food security, economic

openness through Comprehensive Economic Partnership Agreements, as well as strategies for innovation and intellectual
property protection, affirming the readiness of the national infrastructure to support the growth of startups at both the federal
and local levels.

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He noted that the UAE today hosts more than 1.2 million companies, of which around one million are owned by
entrepreneurs, representing nearly 94% of the total. This, he emphasised, reflects the pivotal role of entrepreneurs in
strengthening the national economy.

The small and medium-sized enterprises (SMEs) contributed 63.5% to the non-oil GDP of the national economy by mid-2022,
while SMEs account for 95% of the total number of companies operating in the UAE markets. (ANI/WAM)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100

bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around
the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions
of LatestLY)

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