Page 33 - MOE ENGLISH PR REPORT - OCTOBER 2024

Press Release

This session highlighted the dynamics of innovation and entrepreneurship in the UAE and the
opportunities they offer to creators and innovators to establish their businesses and startups. It
emphasized their role in supporting cooperation between UAE and Singapore in the SMEs sector,
and the potential to drive innovation and accelerate the growth and success of entrepreneurs in the
two countries.

Dr. Jean Fares, CEO of Investopia, said: “Today, we launched Investopia Global Talks in
Singapore highlighting the wealth of investment opportunities in the UAE and ASEAN, to
strengthen the bridges of cooperation between the UAE and Singapore, and discuss the latest global
investment trends. Through Investopia’s upcoming events and sessions, we will continue to work
to solidify the UAE's position as a global hub for business and investment and enhance its
attractiveness to FDI in new economy sectors.”

Patrick Lee, CEO for Singapore and ASEAN at Standard Chartered, said: “We are pleased to host
Investopia Global Talks in Singapore alongside the United Arab Emirates, which strategically
serves as a vital hub linking the East to the West. Singapore is well positioned to seize economic
opportunities in the world's most promising regions, including the Middle East and ASEAN. The
event highlights the unique potential of the UAE and Singapore in promoting cooperation,
stimulating investments, and driving sustainable growth across key global trade routes.”

Enabling UAE’s entrepreneurial and innovation culture

During the session, H.E. Alia Al Mazrouei said: “Owing to its wise leadership’s directives, the
UAE today boasts a world-class national entrepreneurship ecosystem with more than 50 incubators
and government and private business accelerators. It features competitive economic legislation and
components, including 100 per cent foreign ownership of companies, free economic zones and
industrial complexes that support the growth of emerging enterprises and the development of
creative ideas of entrepreneurs and SMEs. Moreover, low corporate taxes, golden residency for
entrepreneurs, talents, and creators for up to 10 years, and reduced fees for obtaining the national
Value-Added Certificate add to the national business environment’s attractiveness.”

Her Excellency explained: “Reflecting the success of the UAE's efforts to strengthen its position
as a hub for regional and international entrepreneurs, the country achieved 57 per cent growth in
the total number of SMEs from 2020 to 2023. This affirms the effectiveness of the policies and
initiatives that the UAE has embraced to create an enabling environment for entrepreneurs and
startups.”

“Investopia Global Talks - Singapore is an important milestone in enhancing cooperation between
the UAE and Singapore in entrepreneurship and SMEs sectors, advancing their global standing in

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