Officials and business leaders call on talented people to benefit from the incentive systems in the UAE

Dr. Ahmed Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, affirmed that the United Arab Emirates constitutes an incubator to support the talents, skills and innovative ideas of entrepreneurs, by providing encouraging and flexible economic, investment and financial systems that help companies from the very beginning of the foundation to launch towards success according to the rule of thumb. solid. 

This came in the inaugural session of the activities of the fifth edition of the Sharjah Entrepreneurship Festival, which was titled "50 Years of the UAE: Growth of an Entrepreneurial Nation". The session was attended by Dr. Ahmed Belhoul Al Falasi and Fadi Ghandour, CEO of Wamda. Capital and Magnus Olsson, co-founder of Careem.

 The session discussed the importance of the startup sector and its growing role in promoting the economic growth of the United Arab Emirates, and the steps needed to advance and develop it, as well as the factors affecting the growth of this sector over the next 50 years, especially as the country prepares to celebrate its national day and the fiftieth anniversary of its founding.

Dr. Ahmed Belhoul Al Falasi said: “We have in the ministry a distinguished team to support and encourage entrepreneurship, and during the period of the Corona pandemic, the government of the UAE provided incentive packages to maintain the flow of business and encourage entrepreneurs to continue their business, and we have many solutions and partnerships with banks to help emerging companies in financing. The opening of accounts in addition to providing digital transformation solutions, and the government’s incentive policies have multiplied the funding provided to startups several times.”

Dr. Ahmed Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, called on entrepreneurs and owners of innovative ideas to take advantage of the integrated system provided by the state to sponsor entrepreneurship, and to continue acquiring knowledge and skills, stressing that entrepreneurs will contribute to achieving more achievements for the state in the next fifty years. .  

For his part, Fadi Ghandour, CEO of Wamda Capital, spoke about his entrepreneurship journey that he started in the UAE since the eighties of the last century and the challenges he faced, noting that the economic environment has developed dramatically and the business industry in the countries has become an inspiration to many emerging entrepreneurs. around the world.

Ghandour explained that the environment that talents dream of exists in the UAE, which is now home to many business leaders who have contributed through their companies to influence their society by possessing a high level of awareness of positive change, and stressed that success requires time to reach solid ground that enables the company. than to continue.

For his part, Magnus Olsson, co-founder of Careem, pointed out that the entrepreneur's ability to solve problems and face challenges is one of the most important keys to success, stressing that the company's success cannot be achieved through one person, but through an integrated work team that takes the company into the future.

Based on his experience in establishing Careem, Olsen said: “When I started about ten years ago in establishing Careem, many around me considered this step a form of madness, asking: Do you want to become a driver after your university studies? And I spent days and months To convince these people that we are changing the future,” he called on the owners of ideas and talents to have the courage and courage to move towards the future, and to take advantage of the developed economic and investment climate in the UAE, which stimulates the launch of businesses not only at the regional level but also globally.

It is noteworthy that the "Sharjah Entrepreneurship Festival", which is organized by the Sharjah Entrepreneurship Center (Sheraa) at the Expo Center Sharjah under the slogan "Meeting of the Stars", hosts 55 speakers, including influential entrepreneurs, young cultural, sports and social figures, and local and international experts discussing with more than 4,000 entrepreneurs. Business and founder of a start-up company in various sectors in 27 events hosted by the festival, ways to make a meaningful impact and promote positive change in the entrepreneurship sector in the country and the region, in addition to sharing their experiences and motivating them to make a positive impact in their communities.

It is noteworthy that the festival is organized in partnership with the Communications and Information Technology Development Fund - an initiative of the Telecommunications Regulatory Authority and the Digital Government of the United Arab Emirates, Sharjah Media City (Shams), Alef Group, and the Sharjah Commerce and Tourism Development Authority.

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