Tuesday 29 November 2022 - 5:25:28 am

Ministry of Economy launches ‘ScaleUp Export’ initiative in collaboration with UPS


ABU DHABI, 2nd June, 2022 (WAM) -- The Ministry of Economy in collaboration with UPS, a global logistics and shipping company, launched ‘ScaleUp Export’ initiative under the Entrepreneurial Nation which was launched by the Ministry in November 2021.

Abdulla bin Touq Al Marri, Minister of Economy, said that the UAE, based on the vision of its wise leadership and in line with the ‘Principles of the 50’, continues its efforts to advance the leadership sector and support SMEs, given its role as a key pillar for building a future knowledge- based economy, innovation, diversity, and competitiveness. "The Ministry of Economy, in partnership with various relevant federal and local government entities and in cooperation with the local and international private sector, is working to provide all possibilities for prosperity of entrepreneurship and rapid growth of SMEs that enhance their contribution to the growth of the national economy," he added.

Bin Touq explained, "The past phase saw the launch of a distinct set of initiatives and programs under the umbrella of the ‘Entrepreneurial Nation’, which aims to bring about a qualitative shift in the supporting environment for entrepreneurship, start-ups, and SMEs in the UAE and enhance their attractiveness to entrepreneurial projects from around the world, through a series of partnerships with global institutions and companies in various fields. The launch of the ScaleUp Export, in collaboration with UPS, is a continuation and extension of the ‘Entrepreneurial Nation’ initiatives with the aim of supporting its growth and providing the tools and information needed to increase its export volume to foreign markets and develop its business sustainably."

He also noted that the programme is designed to support the strategic target of the Entrepreneurial Nation by providing the catalytic environment for the development and incubation of 20 unicorns in the country by 2031.

For his part, Abbas Panju, UPS Managing Director for the Middle East and Central Asia, said, "As foreign trade will play an integral role in the UAE’s efforts to double the size of the economy by 2030 from US$381 billion to US$762 billion, UPS is committed to contribute to the nation’s growth strategy by enabling small businesses to reach global marketplaces and increase their revenue." "We are honoured to be partnering with the UAE Ministry of Economy for the ScaleUp Export programme. This platform will provide SMEs with logistics knowledge and insights on the benefits of exporting through our international network. Together, we look forward to empowering local companies to expand beyond their UAE borders," he added.

The ScaleUp Export programme supports the export capacity of UAE start-ups and SMEs. It also aims at enhancing the access of their products and services to global markets via a range of supportive tools and programs and through a range of targeted local and international partnerships with relevant sectors.

Registered companies can gain access to a range of experts and advisers in various sectors through the programme. It facilitates technical and legal consultations, as well as special shipping prices. The programme also provides training and mentoring opportunities, conducting technical workshops to increase their exports to global markets. It also provides mentoring and supervisory programmes, and seminars on export target markets.

The Ministry of Economy explained that duly licensed and registered SMEs in a certain emirate can benefit from the services of this programme by registering via the website of the Entrepreneurial Nation using the following link https://theentrepreneurialnation.com//. SMEs have to meet one or more of the following required standards, which will be verified and examined by both the Ministry and UPS:

 

- The company must be active in the following sectors: e-commerce, high-tech, or electronics in general.

- The company must be a manufacturer of one of the following goods: clothing, fashion accessories, consumer electronics, mobile phones, spare parts, machinery parts.

- The company must be currently exporting and wants to increase its exports by activating existing products or expanding its markets and sales channels.

- The company must have high export potential, as each case will be evaluated individually.

- The company must be exporting weekly or biweekly or plans to do so.

 

WAM/Amjad Saleh/Lina ibrahim