The total number of business licenses registered for Emirati entrepreneurs in 2021 has reached 29,000, an increase of 26% compared to the number of licenses registered in 2019, according to the Ministry of Economy. Dubai has introduced a new vision for the project, the National Plan for Small and Medium Enterprises, indicating that the new vision will include initiatives that include three key projects in terms of government procurement, business support and financial solutions.
In detail, Dr. Ahmed Belhawl Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, said, “A new vision of the National Program for Small and Medium Enterprises and Businesses has been launched, which will provide many of Emirati entrepreneurs with integrated initiatives and services,” he said. Will be started. ” It comes under three major programs offered by the new National Program Platform.
“The new initiatives include three main projects based on the developed government procurement program, the business support program and the financial solutions program,” he explained, adding that “small and medium enterprises currently represent 94% of the total companies and firms operating in the country, and 50% of the country’s GDP.” “The International Entrepreneurship Index ranked the country number one globally in 2022, and ranked it as the best organization in the world in the Global Entrepreneurship Surveillance Report.
Al Falasi said, “The number of business licenses registered for Emirati entrepreneurs has increased from about 23,000 in 2019 to about 29,000 in 2021, with a growth rate of 26%,” the UAE offers many fast-growing entrepreneurial companies. Millionaire companies started across the country to reach the world, including the company (Careem, Souq.com, Kitobi, and Swvl) and others.
He explained, “As per the government procurement plan, the Ministry of Economy has renewed its partnership with the Ministry of Finance to register Emirati Entrepreneurs on the Federal Procurement Platform.
“The national plan will, at an early stage, coordinate government procurement with three federal agencies: the Ministry of Education, the Emirates Foundation for Health Services and the Ministry of Human Resources and Immigration,” he said. The position is to develop appropriate mechanisms to ensure the actual functioning of the purchase. Business owners are federal in the service of citizens.
He added, “In connection with the development efforts (Business Support Program), this project site provides excellent services to entrepreneurs, which include the following: Etisalat service, Emirates Telecommunications Corporation (Etisalat), Accounting and Internal Audit Service, through a series of partnerships, National Project Conducted with seven national companies and enterprise resource planning services that specialize in this field: through a partnership that allows access to effective digitalisation of enterprise resources and insurance services, especially in addition to providing insurance solutions (incentives) for health and auto insurance programs, human resources and emiratization to reduce labor recruitment costs Renewal of cooperation with the Ministry.
Al Falasi said, “The Financial Solutions program allows entrepreneurs to open their bank accounts in minutes and activate them within 48 hours.”
94 94% share of small and medium enterprises in the total number of companies and firms operating in the country.
• The new vision covers three major projects in terms of government procurement, business support and financial solutions.
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