Page 192 - MOE ENGLISH PR REPORT - JANUARY 2025

2/3/25, 3:24 PM Ministry of Economy organizes Riyada Development Program in Al Dhafra to drive growth and expansion of startups and SMEs in th…

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 SMEs 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. Alia 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 emphasized
the importance of maximizing 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 per cent

of the total companies operating in the UAE market, contributing 63.5 per cent 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.

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