Page 199 - MOE ENGLISH PR REPORT - JANUARY 2025

2/3/25, 3:25 PM In the presence of H.E. Alia Bint Abdulla Al Mazrouei Ministry of Economy organizes Riyada Development Program in Al Dhafra to dri…
H.E. Alia Al Mazrouei emphasized the UAE's firm belief in the importance of entrepreneurs and innovative startups as
key pillars for building a prosperous future for current and future generations, accelerating the transition to a
knowledge and innovation-driven economy. 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 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.

https://www.godubai.com/citylife/press_release_page.asp?PR=183579 2/2