Page 29 - MOE ENGLISH PR REPORT - JANUARY 2025

Press Release

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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