Abu Dhabi Chamber Initiates Working Group To Empower Startups And SMEs
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has recently announced the formation of a dedicated working group for startups and small and medium-sized Enterprises (SMEs) in Abu Dhabi. This strategic move is designed to bolster the interests and growth of these businesses within the region. The overarching ambition is to position Abu Dhabi as the premier business destination in the Middle East and North Africa (MENA) by the year 2025.
The Startups and SMEs Working Group, operating under the auspices of ADCCI, is set to engage with both government and private sectors. Its mission is to tackle existing challenges, foster innovation, and contribute to economic diversification for sustained growth. Given that startups and SMEs employ over 46 percent of the emirate’s workforce and account for 42.8 percent of Abu Dhabi's non-oil GDP, this initiative is poised to create a nurturing business environment for their development and success.
Fouad Darwish, a Board Member of ADCCI and Chairman of the Startups and SMEs Working Group, emphasized the group's commitment to developing strategies and proposing policies aimed at attracting enterprises into burgeoning sectors, notably modern technology. "The Group will spearhead numerous programmes, initiatives, and activities tailored to furnish startups and SMEs with the necessary guidance and skills," Darwish stated. He also highlighted the group's role in enhancing cooperation and exchanging experiences, ideas, and opportunities that support growth.
Ahmed Khalifa Al Qubaisi, CEO of ADCCI, remarked on the significance of this initiative, noting its contribution to the qualitative leap experienced by this sector over recent years. "The establishment of the Startups and SMEs Working Group marks a significant stride in fortifying the growth trajectory of this crucial sector," Al Qubaisi said. He credited collaborative efforts between ADCCI and government entities for creating an enabling environment conducive to enterprise growth.
The sectoral working groups are designed to build communication bridges between government entities and the private sector. This initiative plays a vital role in attracting investors and fostering sustainable economic development in Abu Dhabi. By focusing on these areas, ADCCI aims to accelerate the role of startups and SMEs as pivotal contributors to economic advancement, aligning with Abu Dhabi’s vision for the next fifty years.
With inputs from WAM
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