Minister reviews development of local entrepreneurial landscape

Alia Bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship, held meetings with the heads of several local economic and entrepreneurship development departments and entities with an aim to enhance cooperation with local authorities and the private sector in advancing the country’s overall entrepreneurship landscape. The initiative is also aimed at providing more incentives and facilities to entrepreneurs and startups, thus enhancing the UAE’s position as a leading global destination for entrepreneurship and SMEs.

Meetings were held with Hilal Saeed Al Marri, Director General of the Department of Economy and Tourism in Dubai; Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department; Najla Al Midfa, Vice President of the Sharjah Entrepreneurship Center (Sheraa); Saif Ahmed Al Suwaidi, Acting Director General of the Department of Economic Development in Ajman; and Sultan Jamea Al Hindasi, Director General of the Fujairah Chamber of Commerce and Industry.

During the meetings, Alia Al Mazrouei was apprised of the latest developments in the entrepreneurial environment of Dubai, Sharjah, Ajman and Fujairah, future plans to support the growth of SMEs, and the programs and facilities offered by each of these emirates to motivate entrepreneurs and startups to expand into diverse sectors.

She emphasised that the UAE, under the guidance of its wise leadership, continues to strive to develop a comprehensive and sophisticated entrepreneurship and the SMEs landscape in line with global best practices. The country today has a world-class entrepreneurial environment characterized by a flurry of startup and entrepreneurial activities.

She added that concerted national efforts continue to ensure a competitive climate for entrepreneurs and enable them to attract investments, promote their products and services and assist them in obtaining the necessary funding. These efforts also contribute to promoting the culture of entrepreneurship in the community, thereby establishing the UAE’s position as a leading global entrepreneurship and startup destination, in light of the goals of ‘We the UAE 2031’ vision.

Alia Al Mazrouei said: “The cooperation and integration of efforts between federal and local government departments is key to developing the national entrepreneurial environment, stimulating innovation and increasing productivity. It is one of the main drivers of the future knowledge economy, its diversification, competitiveness and sustainable growth.”

During the bilateral meetings, Alia Al Mazrouei learned about initiatives and projects launched by the local authorities to support the growth of SMEs in the country and promote their expansion into foreign markets, facilitate their access to financing and investments, and provide them with all enablers and tools for success and continuity.

Enhancing cooperation with Dubai Economy & Tourism department in promoting entrepreneurship

Alia Al Mazrouei’s meeting with Hilal Al Marri, Director General of the Department of Economy and Tourism in Dubai, discussed mechanisms to enhance cooperation opportunities in entrepreneurship promotion between the Ministry of Economy and the Department. This will entail the launch of initiatives aimed at expanding the operations of small and medium-sized companies in new economic sectors, especially technology, artificial intelligence, manufacturing and sustainable transportation. Besides, the meeting explored the means to address challenges faced by SME-owners and entrepreneurs, especially with regard to licensing of technology companies, fees and R&D. In addition, H.E. was apprised of various programs and initiatives offered by Dubai SMEs and its role in strengthening Dubai’s entrepreneurial ecosystem.

Alia Al Mazrouei’s meeting with Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, covered key initiatives launched by the Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD), affiliated with the Department. Most notable are the ‘Tashbeek’ initiative designed to enhance communication and exchange of experience among entrepreneurs; the ‘Nojoom’ initiative, which focuses on training and preparing students while raising their awareness on entrepreneurship; and the ‘Majlis Ruwad’ initiative aimed at facilitating dialogue to foster the entrepreneurial culture and emphasizing the importance of attending mandatory workshops in claiming the Foundation’s membership benefits.

The meeting also addressed the challenges faced by Sharjah’s entrepreneurial landscape, including limited number of companies in certain key sectors, the difficulties of competition, the attraction of skilled workers and high-level professionals, and the rising operational costs. The Foundation also put forward suggestions to tackle these issues, such as broadening the range of national forums and gatherings and leveraging existing agreements with other countries to boost business opportunities for entrepreneurs.