He stressed that the support of citizens in small and medium enterprises is announced at the appropriate time

Al Falasi: The UAE will host the best startups in the world in October 2022

During a virtual session on the investment environment in the country.

From the source

Minister of State for Entrepreneurship and Small and Medium Enterprises, Dr. Ahmed Belhoul Al Falasi, affirmed that the government is proceeding according to specific plans and methodology, procedures and dates, with regard to providing financial support, to motivate them to engage in the field of small and medium enterprises.

He told "Emirates Today", during a virtual session organized by the media office of the UAE government, yesterday, on the investment environment in the country: "We must not anticipate events, and although encouraging citizens to this approach really needs financial support, but everything will be announced in The right time.”

While the minister revealed the state's tendency to embrace the most prominent projects and startups in the world after the end of "Expo 2020", so that the UAE will be the headquarters of the best startups in the world, as of October 2022.

Meanwhile, Undersecretary of the Ministry of Economy, Abdullah Ahmed Al Saleh, stressed that the UAE will seize the opportunity to organize “Expo 2020” to promote investment within the country, as well as search for the best promising investment opportunities for national companies and citizen businessmen, in other fields and countries, noting that the state has estimates Detailed about the benefits and gains that you will reap in the various economic, tourism and investment sectors, the retail sector and the logistics movement, from organizing this global event.

The session, which was held via videoconferencing technology, focused on the various investment opportunities available to investors from the region in the UAE.

The participants in the session expected that the investment opportunities available in the country would witness a large turnout of regional investments, after the UAE announced the launch of the "50 projects", which constitute a package of strategic projects that establish a new development cycle and enhance the country's position as a destination for promising investments.

The session dealt with the impact of the new packages announced by the UAE in the "50 projects" and their investment repercussions, especially the "10 x 10" economic program to develop the country's exports.

In his intervention, Minister of State for Entrepreneurship and Small and Medium Enterprises, Dr. Ahmed Belhoul Al Falasi, said: "The new economic and development projects, which were announced within the first package of the (50 projects), contribute to strengthening the integrated environment that the UAE provides for entrepreneurs and owners of small projects. and medium-sized enterprises, in a way that supports the economic diversification path adopted by the UAE early on, and creates new opportunities in emerging sectors for investors looking for quality legislative and regulatory facilities, qualified talents from around the world, a flexible economic system, and positive growth indicators.

In response to a question by "Emirates Today" whether the government is going to provide material support for the transformation of citizens from government sector employees towards entrepreneurship and small and medium enterprises, especially after the administrative support provided by the state to motivate them to engage in the field of projects, the minister said: "The government It is proceeding according to specific plans and methodology, procedures and dates, and therefore we must not anticipate events, and although encouraging citizens to this approach really needs financial support, everything will be announced in due course.”

Al Falasi stressed that the state is keen to highlight the role and importance of small and medium enterprises during the “Expo 2020” event, and not only at the level of the Emirates, but will provide a wide scope for reviewing the most prominent of these projects at the level of the pavilions of all participating countries, pointing to the existence of an initiative to embrace the most prominent of these projects in order to take From the “Expo” site as a headquarters after the end of the global event, in March 2022, and the removal of the construction work of the exhibitors, so that the UAE will be the home of the best startups in the world as of October 2022.

Meanwhile, Undersecretary of the Ministry of Economy, Abdullah Ahmed Al Saleh, said that the announcement of the “10×10 program” to develop the country’s exports with an annual increase of 10% in 10 global markets, and the unified investment platform invest.ae, which facilitates investors to establish companies in the UAE, and complete various procedures. Related to it, all matters that enhance investment opportunities in the country, especially for investments coming from the region to it, which are features that we will shed more light on during the Emirates Investment Summit, which we will hold next year, and bring together investment funds with government agencies and the private sector with the aim of creating meaningful economic opportunities to attract 550 billion dirhams of incoming foreign direct investment over the next nine years.

He added, "The new package of the "50 projects" also provides qualitative opportunities in the UAE for investors from the region, especially with the cumulative balance of the volume of Saudi direct investments in the UAE, until the beginning of 2020, to about $4.85 billion, and the rise of Kuwaiti direct investments that Its cumulative volume in the UAE, until the beginning of 2020, amounted to about $3.7 billion, and the cumulative balance of the volume of Bahraini direct investments in the country, until the beginning of 2020, reached about $2.05 billion, and the cumulative balance of the volume of Qatari direct investments in the UAE, until the beginning of In 2020, about $1.13 billion, and the cumulative balance of the volume of Omani direct investments in the country, until the beginning of 2020, reached about $684 million.

Al Saleh stressed that the UAE government has various plans to promote the “50 projects” during Expo 2020, from its opening until the conclusion of its activities, with the aim of attracting many investors from all over the world to take advantage of the promising investment climate that attracts business owners and creators in various fields. This is done through forums and dialogue sessions that shed light on new aspects in the world of investment and business, stressing that the UAE will seize the opportunity to organize “Expo 2020” to promote investment within the country, as well as search for the best promising investment opportunities for national companies and citizen businessmen, in other fields and countries. .

For his part, Vice Chairman of the Kuwaiti Business Council in Dubai, Firas Al-Salem, considered that the UAE has for decades formed an attractive investment environment for investments from all over the world and the region, stressing that the Kuwaiti investor has always found all the facilities he needs to expand his business and projects in the UAE's supportive environment for investment and investors. .

Advance entrepreneurship

The participants in the session discussed ways to advance the reality of entrepreneurship, and enable small projects that constitute the pillar and focus of the UAE government’s attention, which was reflected in the economic policies and strategies aimed at creating an integrated, supportive and attractive environment for entrepreneurs and owners of small and medium enterprises, especially by enhancing the ease of doing business. business, supporting opportunities and tributaries of access to finance, raising demand rates and promoting innovation.

Abdullah Al Saleh: "The UAE has various plans to promote (the 50 projects) during (Expo 2020)."

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