Page 451 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/25/24, 11:40 AM H.E. Alia Al Mazrouei reviews UAE's efforts to develop national entrepreneurship environment and the new economic model at ‘E…
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 organized by the Dubai World Trade Centre and
hosted by the Dubai Chamber of Digital Economy at Dubai Harbour from 13 to 16 October.

H.E. Al Mazrouei said that the UAE, thanks to the guidance of its wise leadership, boasts a

comprehensive entrepreneurship and SMEs ecosystem today, characterized 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.

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UAE's efforts in developing the national entrepreneurship environment

H.E. the Minister of State for Entrepreneurship apprised the participants of the forum of the UAE's and
the Ministry of Economy's efforts to enhance the national entrepreneurship environment. These 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 companies, reduced fees for obtaining the ‘National Value Added Certificate,’
and the granting of golden visas to entrepreneurs and talented individuals for up to 10 years.

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