Page 440 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/28/24, 10:33 AM Alia Al Mazrouei reviews UAE's efforts to develop entrepreneurship environment, new economic model at Expand North Star - Ey…

Alia Al Mazrouei reviews UAE's efforts to develop entrepreneurship environment,

new economic model at Expand North Star

Alia bint Abdullah Al Mazrouei, Minister of State for Entrepreneurship, participated in a session titled ‘The UAE's Vision for
Entrepreneurship - Future Growth Opportunities for Local and Global Investors’, which took place at Expand North Star 2024,
one of the largest events for startups and investors from around the world. The event is being organised by the Dubai World

Trade Centre and hosted by the Dubai Chamber of Digital Economy at Dubai Harbour from 13th to 16th October.

Al Mazrouei said that the UAE, thanks to the guidance of its wise leadership, boasts a comprehensive entrepreneurship and
SME ecosystem today, characterised by pioneering initiatives, a flexible legislative framework, and competitive incentives for

establishing businesses and startups. Furthermore, the UAE has amended over 60 laws to support the growth of SMEs and
increase their contribution to the national GDP. Today, this ecosystem houses more than 50 government and private business
incubators and accelerators. In light of these developments, the UAE has been ranked first globally for the third consecutive
year by the Global Entrepreneurship Monitor (GEM) report 2023/2024, surpassing many advanced economies. The country

has also been classified as the best place in the world to set up and operate new businesses.

Al Mazrouei apprised the participants of the forum of the UAE's and the Ministry of Economy's efforts to enhance the national

entrepreneurship environment. These efforts include the launch of the National Programme for Small and Medium Enterprises,
The Entrepreneurial Nation, the Future 100 initiative, the Thabat family business programme, as well as the establishment of
free economic zones and industrial complexes that support the growth of entrepreneurial ventures. Competitive tax rates for

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