The SMEs program of the Ministry of Economy revealed that small and medium enterprises, owned by citizens of the program, have begun to receive incentives in six high value-added sectors and economic and service activities: alternative energy, industry, space, Tourism and health.
He added that UAE projects in these sectors have been given priority in obtaining tenders and government projects from various government agencies, as well as the priority of participating in local and international exhibitions and in the loan guarantees granted by the Emirates Bank for Development .
Dr. Adeeb Al-Afifi, Director of the National Program for Small and Medium Enterprises, said that the small and medium enterprises owned by the citizens of the program started to receive incentives in six sectors and specific economic and service activities with high added value, in cooperation with the concerned sectors: Alternative energy, industry, space, media, tourism and health.
He added that the projects of the citizens who are members of the program have been granted priority in obtaining tenders and government projects from government agencies such as the Sheikh Zayed Housing Program, which began to give priority to citizens' projects in the six sectors, Domestic inputs for the production of these sectors, such as electrical appliances and solar panels.
He stressed that priority has also been given to projects in the six sectors, in terms of participation in local and international exhibitions, to increase the number of dealers, to introduce their products and to open new export markets abroad.
Al-Afifi pointed out that the program bears 90% of the participation of the members of the program in the exhibitions, increasing the demand of companies to participate in them, noting that the program is currently coordinating with the Emirates Bank for Development to give priority to loan guarantees for small and medium enterprises in the six sectors.
He stressed that the granting of incentives to projects in the six sectors aims to encourage citizens who are members of the program, to start business activities in these six sectors, and to support existing projects and help them expand.
He pointed out that SMEs in these six sectors are currently very small and disproportionate to their great importance. Studies have revealed that they represent only 10% of the total SME in the country. As well as that most SMEs are concentrated in the sectors of trade and services in general.
He said that these sectors are very suitable for citizens, especially as they rely on a small workforce, do not need large capital, and depends on innovation and production of minds in the first place.
He added that these six sectors have high added value and have a significant impact on the size and quality of the country's GDP. The national innovation strategy of the UAE is a priority, as innovation is the only way to diversify the real economy in the country.