Supported by motivating factors, most notably government programs and allowing foreigners to own companies by 100%.

The UAE is fourth globally in the Entrepreneurship Index

• Entrepreneurship is a priority within the “50-Year Economy Plan”.

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The UAE ranked fourth globally in the Global Entrepreneurship Index during 2020, as this achievement crowned the national efforts that have been intensified over the past few years to improve the environment for the entrepreneurship sector and raise its competitiveness at the global level.

A report by the Ministry of Economy on Entrepreneurship indicated that the Ministry is currently focusing its efforts on enhancing the business environment in the country to ensure that it meets the needs of the small and medium-sized companies sector, as it is a driving sector of the national economy.

priority

In the report published on its website, the ministry confirmed that entrepreneurship is a priority within the "fiftieth economy plan", explaining that the "fifty economy plan" represents the ministry's vision for the country's economic work system for the years 2021-2030, and one of its most important axes is stimulating entrepreneurship. business and small and medium enterprises, in addition to spreading the culture of entrepreneurship among future generations, and consolidating the position of the UAE as a global platform and destination for entrepreneurship, especially in the areas of innovation and technology.

She added that the "Fifty Economy Plan" falls under the umbrella of the "Year of Preparation for Fifty" strategy, which is the largest national action strategy of its kind in preparation for the next 50 years at all levels of the federal and local state.

Goals

The ministry indicated that the objectives of the National Entrepreneurship Agenda include the UAE being the first home of entrepreneurship in the year 2031, and being home to 10 billion companies until 2031, in addition to becoming one of the top three countries on the global index of entrepreneurship.

capabilities

The ministry pointed out that the capabilities of the entrepreneurship sector are represented in the national agenda to support entrepreneurs, as well as major government programs to support entrepreneurship, entrepreneurship accelerators and start-ups, in addition to allowing foreigners to own companies by 100%, as well as a golden residence for entrepreneurs, and areas Free and business communities.

nurturing environment

The ministry indicated that the environment incubating leadership in the UAE has been greatly enhanced through several measures and decisive decisions taken at the level of the federal government, represented in allowing full ownership of companies for foreigners in all activities, and providing golden visas for entrepreneurs, in addition to dozens of advantages. and promising incentives, and the specialized free zones have contributed in the past two decades to establishing a solid base for entrepreneurship in the country.

It is noteworthy that the Ministry of Economy is looking forward that its support strategies in the coming years will result in raising the contribution of this sector to the gross national product and doubling the number of companies.

world class

The Ministry of Economy confirmed that the UAE enjoys a world-class environment in supporting and regulating the entrepreneurship sector, with an integrated system to incubate entrepreneurial projects and accelerate their growth, noting that the concerned government agencies are always working to develop initiatives and programs, to make these projects an engine of growth, and a contributor chief in raising the size of the country's gross domestic product.

Objectives of the National Entrepreneurship Agenda

• The UAE is the first home for entrepreneurship in 2031.

• Home of 10 billion companies until 2031.

• Top 3 countries on the Global Entrepreneurship Index.

• The incubator environment for leadership in the Emirates has been greatly enhanced, through several measures and critical decisions.

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