The Dubai Report estimated the size of the small and medium enterprises sector in the emirate at about 198.6 billion dirhams, out of the total added value of the Dubai economy, which translates into a total contribution of about 46% of the emirate's GDP, indicating that the sector's contribution grew by 6% between 2008 And 2017.

The report was launched yesterday, at the end of the two days of the "Emirates Economic Forum 2019", which was organized by the "Dubai Economic", over two days, under the title "The pioneering economy in the Emirates is flexibility, growth and prosperity."

The largest shareholder

The report indicated that the services sector is the largest contributor (47%), in the total added value of the small and medium enterprises sector in Dubai.

He indicated that the contribution of the total value added of the sector increased from 41% in 2008 to 47% during 2017, while the contribution of the total proportionate value of small and medium-sized enterprises to trade and manufacturing decreased by 3% each during the same period.

“Challenging Young Economists”

On the sidelines of the forum's activities, the "Young Economists Challenge" event, the initiative launched by Dubai Economy, was launched with the aim of engaging young talents from academic bodies to directly contribute to the economic development in the UAE and stimulate innovation and creativity.

Eight teams from four universities are participating in this challenge: Emirates University, Higher Colleges of Technology, University of Sharjah, and American University of Ras Al Khaimah.

Uniting visions

The Director General of Dubai Economy, Sami Al Qamzi, said that «Dubai Economic has successfully concluded the agenda of the Emirates Economic Forum 2019, through which we sought to address representatives of government agencies and major companies, policy makers, thought leaders and innovators, students of academic institutions, and experts from the UAE and abroad, to The side of providing information to policymakers, with the aim of unifying visions and strategic thinking, and coming up with a set of initiatives and proposals that support the future of the competitiveness of the economy of Dubai and the UAE ».

Al-Qamzi added: “We look forward to achieving the next 2020 session of the forum, which takes place in the Emirate of Abu Dhabi, with the organization of the Department of Economic Development in Abu Dhabi, the desired aspirations.” He pointed out that “Dubai’s economy stands side by side with the economic departments in the UAE and the Ministry of Economy, To develop joint strategic plans and formulate economic and innovative policies whose main goal is to support economic growth and business development in various fields, in line with the directives and aspirations of the leadership of the UAE. ”

Investing in youth

For his part, the General Director of Al-Ittihad Youth Foundation, Saeed Al-Nazri, stressed the importance of investing in youth’s energy, as they are the nation’s wealth and an engine of economic growth. He also stressed the importance of focusing on supporting this segment because of its added value and role in advancing development.

30 speakers .. and 500 specialists

The Emirates Economic Forum 2019 witnessed seminars and the launch of a set of economic reports at the local, regional and global levels, through 30 speakers, in the presence of 500 specialists from the public and private sectors, and the academic community. The speakers focused on presenting the current strategic plans adopted by each emirate separately, and the federal government, in addition to highlighting ongoing and proposed initiatives and projects in the public and private sectors.

6%

Growth in contribution

Small Projects

Dubai's GDP

Between 2008 and 2017.