UAE Council For Entrepreneurship Unveils Strategies To Enhance Business Environment And Support SME Growth

The UAE Council for Entrepreneurship recently convened its second meeting of the year, led by Alia bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship. Attendees included representatives from federal and local government bodies, economic development departments, and various councils and funds dedicated to promoting entrepreneurship in the UAE. This gathering is part of ongoing efforts to enhance the national entrepreneurial landscape in alignment with the "We the UAE 2031" vision.

The Council evaluated recommendations from its first meeting and assessed their implementation progress. Discussions also covered Federal Law No. 2 of 2014 on Small and Medium Enterprises (SMEs), the creation of a unified database for entrepreneurs, and coordination among local entities to streamline support for the country's entrepreneurship ecosystem.

Alia Al Mazrouei emphasised that the Council is committed to developing effective frameworks and strategies to empower entrepreneurs. By fostering integration among relevant entities, they aim to advance national programs that boost business competitiveness. These initiatives seek to expand entrepreneurial ventures, enhance startups' growth, and open new opportunities for partnerships and investment.

The meeting also explored ways to better support entrepreneurs in expanding locally and globally. Discussions focused on enhancing coordination among relevant entities and fostering partnerships with both public and private sectors. This approach plays a crucial role in advancing the national vision of building a knowledge-based economy driven by entrepreneurship and innovation.

The Council reviewed the Youth Entrepreneurship Council Strategy, which aims to empower young people to lead innovative projects that reinforce the UAE’s global leadership in this sector. Participants discussed entrepreneurs’ involvement in international expos and proposed engagements for 2025, ensuring effective representation of the UAE at key global entrepreneurship events.

Preparations for the National Forum for Government Procurement were also highlighted during the meeting. This forum aims to improve UAE entrepreneurs’ access to government tenders by allowing federal entities to present projected contracts for the current year. It provides SME owners with an opportunity to prepare bids and facilitates direct communication with contracting authorities.

National Agenda Progress

The meeting concluded with a review of progress towards achieving goals outlined in the National Agenda for Entrepreneurship and SMEs. This agenda aims to position the UAE as a global destination for entrepreneurship while driving innovation and increasing productivity within the sector. Discussions centred on seven pillars: ease of doing business, innovation, business support, digital transformation, access to finance, human capital, and demand increase.

With inputs from WAM