Page 187 - MOE ENGLISH PR REPORT - JANUARY 2025

Her Excellency highlighted the UAE’s continued commitment to fostering a thriving entrepreneurial
ecosystem in line with global best practices, providing flexible economic policies that facilitate the
establishment of startups and accelerate the growth of SMEs, especially with continued
developments in the country’s entrepreneurship legislative framework.

Her Excellency said, "This event serves as a key platform to highlight the unique advantages offered
by the UAE’s entrepreneurial ecosystem and how to leverage them. It also offers a valuable
opportunity to exchange ideas, insights, and experiences in all aspects of entrepreneurship and
SME development. The initiative also enables us to learn more about the innovative startups in Al
Dhafra, listen to entrepreneurs’ ideas and proposals regarding the enablers they need for business
growth, and encourage them to launch new ventures that benefit the community and contribute to
the UAE’s economic progress.”

Riyada’s Initiatives Showcased

H.E. Al Mazrouei elaborated on the initiatives of the ‘Riyada’ entrepreneurship system launched by
the Ministry of Economy last November, which include the Riyada Fund, the UAE Entrepreneurship
Council, the National Unified Entrepreneurship Platform, and the UAE Youth Entrepreneurship
Council.

She emphasised the importance of maximising the benefits of these initiatives across all seven
emirates to boost the competitiveness of the UAE’s entrepreneurial ecosystem and drive it to new
heights of growth and prosperity.

Exploring Entrepreneurial Ventures in Al Dhafra

H.E. Al Mazrouei said that the UAE’s entrepreneurship and SMEs sector continues to experience
sustained growth, with Emirati youth establishing 25,000 SMEs in 2024 alone.

Currently, SMEs account for 94 percent of the total companies operating in the UAE market,
contributing 63.5 percent to the non-oil GDP.

The UAE is also home to more than 50 government and private business incubators and
accelerators.

Challenges Faced by Entrepreneurs Addressed

The event featured a panel discussion that addressed the key challenges faced by entrepreneurs in
Al Dhafra and explored strategies to transform them into new opportunities for innovative projects
across various vital economic sectors.

The event also highlighted a series of inspiring success stories from entrepreneurs and startup
founders in the region.

https://en.aletihad.ae/amp/news/uae/4548111/ministry-of-economy-organises-riyada-
development-programme-i