The Minister of State for Entrepreneurship and Small and Medium Enterprises, Dr. Ahmed Belhoul Al Falasi, stressed that supporting small and medium enterprises and enterprises is a top priority on the work agenda, and a major pillar to advance the national economy in the future, indicating that the work system is currently focusing on taking concrete steps to find practical solutions for all Entrepreneurial challenges, and enhancing the mechanisms of its stability and prosperity in various vital sectors.
He said during a meeting with citizen entrepreneurs, representatives of small and medium-sized enterprises and incubators, that several measures have been taken at the federal and local levels to enable the sector and increase its contribution to the national economy, pointing out that small and medium-sized enterprises have received extensive attention during the past months in the face of the virus crisis Corona emerging, through the announced economic stimulus packages.
He added that small and medium enterprises represent the backbone of the global economy and a flexible tool for governments to support their economies, as the sector makes up about 90% of companies in the world, while in some developed countries its contribution reaches about 99%, such as South Korea and Japan, indicating that the contribution of small and medium companies In the UAE's non-oil GDP reached 52% in 2017.