Monday 28 November 2022 - 8:26:52 am

SMEs play critical role in UAE move towards economic growth, diversity


DUBAI, 25th March, 2022 (WAM) -- Small and medium enterprises (SMEs) in the UAE have taken on a critical and highly essential role in the move towards achieving economic growth and diversity.

SMEs represent more than 94 percent of companies operating in the country, ably providing jobs to more than 86 percent of private sector's workforce. In Dubai alone, they make up 95 percent of all its businesses, produce 42 percent employment opportunities, and contribute to 40 percent of the emirate's gross domestic product (GDP).

Spotlighting the important role that SMEs play in the country today, the 2022 edition of the Annual Investment Meeting (AIM), which will be held from 29th to 31st March, at the Dubai Exhibition Centre, Expo 2020 Dubai, will tackle timely and important issues relevant to the SME sector.

Economic experts have pointed out that the percentage of SMEs contribution to the UAE's economic gains will continue to soar up to higher levels in the coming years, reflecting the country's commitment to elevating the entrepreneurship sector, while also extending various forms of support to enhance SME growth.

The UAE's excellent performance over the last few years can be credited to the equally strong performance of SMEs in the move to reinforce the economic standing. In line with this, AIM 2022 will also look towards consolidating UAE's leading position in the global markets while also presenting a diverse number of opportunities for global investors.

AIM 2022, which is being held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, will offer a series of workshops, lectures, and networking events heavily focused on bolstering and improving sustainable investments.

WAM/Tariq alfaham/Khoder Nashar/Lina ibrahim