Minister of Economy and Chairman of the SME Council, Sultan bin Saeed Al Mansouri, said that providing a supportive environment for the growth and empowerment of entrepreneurs is a priority on the UAE's development agenda.This sector is of strategic importance in meeting the requirements of economic diversification, enhancing competitiveness and ensuring sustainable growth. His Excellency added that the Ministry is working continuously with its partners from the federal and local authorities concerned with entrepreneurs to overcome the various challenges facing them, both at the technical level and in other issues related to guarantees and financing.
He added that the National Program for Small and Medium Enterprises (SMEs) affiliated to the Ministry has succeeded in implementing a number of important steps that have contributed to enhancing the positive impact of the facilities and incentives provided by the Federal Law on SMEs and enterprises through electronic linkage with government agencies that provide services to pioneers. In order to facilitate their access to incentives offered, both in terms of preference in government tenders and procurement, or through facilities provided with respect to government fees and a number of other services that contribute to enhancing the requirements for success. Commercial Entrepreneurs in the State.
This came during the second meeting of His Excellency the Minister of Economy with Emirati entrepreneurs who are members of the National Program for Small and Medium Enterprises and SMEs affiliated to the Ministry, which comes within a series of periodic meetings held by the program with the aim of promoting an open dialogue between entrepreneurs and officials in the country Enhance partnership with SMEs, listen to challenges facing entrepreneurs and discuss ways to overcome them.
The meeting, which was held at the Customer Happiness Center at the Ministry of Economy Headquarters in Dubai, was attended by Dr. Adeeb Al Afifi, Director of the National Program for Small and Medium Enterprises, the executive arm of the Council of Small and Medium Enterprises, Ministry of Economy; Business Development at Khalifa Fund for Enterprise Development.
Al Mansouri stressed that the next phase will see more concerted efforts by various government authorities at the federal and local levels to overcome obstacles and reduce the risks faced by entrepreneurs, especially in terms of guarantees and diversification of financing solutions, which is one of the most prominent challenges facing entrepreneurs in the stages of starting a business. He pointed out the importance of the recently launched financing program initiative in cooperation with the Emirates Development Bank, which will provide effective financing solutions for citizen-owned projects at preferential interest rates in addition to a number of other services.
He added that the process of empowering and developing national entrepreneurship is a continuous process in the country within the framework of the guidance of the wise leadership on the importance of supporting and stimulating this vital sector. He pointed out that the State today has a pioneering legislative and institutional structure to support and encourage small and medium-sized companies, including the development of funds and business incubators for startups, small and medium enterprises, and allocated a range of privileges Government facilities for entrepreneurs and worked to connect them to many foreign markets, either through participation in exhibitions and conferences or through many bilateral cooperation agreements with leading countries in this area.
The meeting witnessed many interventions for entrepreneurs to ask their inquiries about some of the facilities offered and opportunities in government projects and ways to benefit from them, as well as a number of challenges facing their business and discuss the most appropriate solutions to overcome them.