United Arab Emirates attends ministerial meeting of emerging countries



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Sharjah –


The United Arab Emirates (UAE) will participate in the 11th International Entrepreneurship Conference 2019, to be held by the Kingdom of Bahrain from 15 to 17 April.

The delegation was led by His Excellency Sultan Bin Saeed Al Mansouri, Minister of Economy, Abdullah Bin Ahmed Al Saleh, Deputy Secretary of Foreign Trade, including Abdullah Sultan Al-Shamsi, Deputy Secretary of the Ministry of Remedies and Dr Adeeb Al-Afifi, Director of the National Small and Medium Enterprises Program. And Abdul Baset Al Janahi, CEO of the Mohammed Bin Rashid Establishment for SME Development.

The meeting aims to improve communication and knowledge of best practices, exchange views and develop strategies in the field of start-ups, small and medium-sized enterprises and entrepreneurship, in the presence of ministers, authorities and experts from several participating countries.

He pointed out that the entrepreneurship sector, emerging companies and small and medium-sized enterprises are a key pillar in the UAE's vision for future development, reinforcing the diversity of the national economy and supporting the direction of the concepts of the knowledge economy. Sector, legislative frameworks, initiatives and national programs that contribute to the promotion, support and development of this sector and to increase its competitiveness and commercial capacity.

He added that the contribution of the SME sector to the country's GDP is growing steadily, reaching 53% in 2018, up from 49% in 2017. The federal government's national agenda has also set an ambitious target of 60%. In 2021, in support of the contribution to support the economic diversification of the state.

Officials and experts discussed the best practices in developing emerging and small and medium-sized enterprises in their countries and highlighted the challenges they face in this area, shedding light on issues such as development and review of policies and legislation to meet emerging business needs and simulate the rapid development of technology. In several business areas, adopting effective strategies to reduce the risk of default and ways to find multiple and innovative sources of financing, such as collective financing, as well as the importance of the role of banks in supporting projects, including micro-development. Female Entrepreneurship.

In parallel to the ministerial meeting, Abdullah Al Saleh, undersecretary of the Ministry of Economy for Foreign Trade Affairs and his delegation, held two meetings with the US delegation and the Polish delegation that participated in the meeting to discuss ways to strengthen cooperation in grassroots entrepreneurship bilateral agreements.

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