Page 476 - MOE ENGLISH PR REPORT - AUGUST 2024

with global best practices. The country today has a world-class entrepreneurial environment
characterized by a flurry of startup and entrepreneurial activities.

She added that concerted national efforts continue to ensure a competitive climate for
entrepreneurs and enable them to attract investments, promote their products and services and
assist them in obtaining the necessary funding. These efforts also contribute to promoting the
culture of entrepreneurship in the 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.

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, Alia Al Mazrouei 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

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.

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.

https://gulftoday.ae/business/2024/08/03/minister-reviews-development-of-local-entrepreneurial-
landscape