Page 46 - MOE ENGLISH PR REPORT - AUGUST 2024

Press Release

community, thereby establishing the UAE's position as a leading global entrepreneurship and
startup destination, in light of the goals of ‘We the UAE 2031’ vision.

H.E. Alia Al Mazrouei said: "The cooperation and integration of efforts between federal and local
government departments is key to developing the national entrepreneurial environment, stimulating
innovation and increasing productivity. It is one of the main drivers of the future knowledge
economy, its diversification, competitiveness and sustainable growth."

During the bilateral meetings, H.E. learned about initiatives and projects launched by the local
authorities to support the growth of SMEs in the country and promote their expansion into foreign
markets, facilitate their access to financing and investments, and provide them with all enablers
and tools for success and continuity.

Enhancing cooperation with Dubai Economy & Tourism department in promoting
entrepreneurship

H.E. Alia Al Mazrouei's meeting with Hilal Al Marri, Director General of the Department of
Economy and Tourism in Dubai, discussed mechanisms to enhance cooperation opportunities in
entrepreneurship promotion between the Ministry of Economy and the Department. This will entail
the launch of initiatives aimed at expanding the operations of small and medium-sized companies
in new economic sectors, especially technology, artificial intelligence, manufacturing and
sustainable transportation. Besides, the meeting explored the means to address challenges faced by
SME-owners and entrepreneurs, especially with regard to licensing of technology companies, fees
and R&D.

In addition, H.E. was apprised of various programs and initiatives offered by Dubai SMEs and its
role in strengthening Dubai’s entrepreneurial ecosystem.

H.E. Alia Al Mazrouei’s meeting with Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah
Economic Development Department, covered key initiatives launched by the Sharjah
Foundation to Support Pioneering Entrepreneurs (RUWAD), affiliated with the Department. Most
notable are the ‘Tashbeek’ initiative designed to enhance communication and exchange of
experience among entrepreneurs; the ‘Nojoom’ initiative, which focuses on training and preparing
students while raising their awareness on entrepreneurship; and the ‘Majlis Ruwad’ initiative aimed
at facilitating dialogue to foster the entrepreneurial culture and emphasizing the importance of
attending mandatory workshops in claiming the Foundation’s membership benefits.

The meeting also addressed the challenges faced by Sharjah’s entrepreneurial landscape, including
limited number of companies in certain key sectors, the difficulties of competition, the attraction
of skilled workers and high-level professionals, and the rising operational costs. The Foundation
also put forward suggestions to tackle these issues, such as broadening the range of national forums
and gatherings and leveraging existing agreements with other countries to boost business
opportunities for entrepreneurs.

‘Sheraa’s efforts in nurturing startups

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