Page 481 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/25/24, 11:29 AM UAE attracting entrepreneurs with Golden Visa offers, competitive tax rates, over 60 amended laws and free zones: Minister - Ara…
Al Mazrouei said that the UAE boasts a comprehensive entrepreneurship and SME
ecosystem, characterised by pioneering initiatives, a flexible legislative framework, and

competitive incentives for establishing businesses and startups.

UAE entrepreneur growth

Furthermore, the UAE has amended more than 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
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 also form part of these efforts.

Al Mazrouei explained that the Ministry of Economy continues its efforts in collaboration
with its partners at local, regional, and global levels, to position the UAE as a leading hub

for entrepreneurship by 2031.

This is in line with the objectives of the National Agenda for Entrepreneurship and SMEs, as
well as the goal to enhance innovation and creativity across various economic sectors,

highlighting the vital role of startups in driving growth within the country’s SMEs sector.

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