Page 467 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/25/24, 11:40 AM PRESSR: H.E. Alia Al Mazrouei reviews UAE's efforts to develop national entrepreneurship environment and the new economic …
A global event for entrepreneurship and startups

In her speech during the session, H.E. said: “The global entrepreneurship

event ‘Expand North Star’ taking place in Dubai this year, bringing together
thousands of business leaders, global investors, startups, entrepreneurs,

and international investment funds, serves as an ideal opportunity to

enhance the momentum of investment in startups and digital

entrepreneurship. It contributes significantly to the exchange of best

practices on competitive policies that support the growth of the SMEs

environment locally, regionally, and globally, and the localization of
innovative ideas in various economic sectors.”

“Entrepreneurship is a key pillar in achieving the UAE's goal of becoming

the global hub for the new economy by 2031, as it encourages

entrepreneurs and startups to establish projects in future and sustainable

economic sectors such as FinTech, sustainable manufacturing, smart

mobility, and AI,” H.E. added.

UAE entrepreneurship landscape’s growth

Furthermore, H.E. Alia Al Mazrouei reviewed a set of positive indicators

that reflect the continued growth of entrepreneurship and SMEs in the

country. Today, SMEs account for 95 per cent of the total number of
companies operating in the UAE’s markets, and 86 per cent of the private

sector workforce. Their contribution to the UAE's GDP reached 63.5 per

cent. Meanwhile, SMEs owned by Emiratis grew by 10.4 per cent in 2022.

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