SOURCE: Zawya - Amazing opportunity for UAE SMEs: Abu Dhabi organizes a two-day exhibition for Small to Medium Enterprises to boost their market presence in competitive economy and strengthen the country's economic vision
Small to Medium Enterprise Exhibition, a two-day event, aims to increase the contribution of the SME sector to the national economy and give them a higher market presence in competitive economy, top experts from the industry said.
UAE Minister of Economy and Chairman of the UAE Small and Medium EnterprisesCouncil Sultan bin Saeed Al Mansoori, who opened the exhibition, said the SME sector is a key pillar in the country's economic vision. The SME sector, he said, is a catalyst for economic diversification and an important source of employment generation in the country.
The event is organised in strategic partnership with funding programmes for young people, entrepreneurs and SMEs across the country.
Dr Adeeb Alafeefi, director, National Programme for SMEs and Projects, said the event is part of the UAE government's strategic efforts to increase the contribution of the SME sector to the national economy.
"The current share of the sector to the country's gross domestic product in 2018 is estimated to be at about 49 per cent. The exhibition will boost national efforts aimed at raising contributions to 60 per cent by 2021, in line with the objectives of the national agenda."
He noted the UAE has been recognised regionally and globally to quickly build and develop the SME sector. "It is ranked first in the Arab world and seventh globally on the Global Entrepreneurial Spirit Index. We aim to develop blueprints to provide expertise, technical support as well as training to boost SMEs. The programme aims to empower the small and medium-sized national entrepreneurs, and the SME Expo will provide a platform for these entrepreneurs to meet leading industry experts and collaborate with each other."
The expo seeks to support and encourage Emirati entrepreneurs including the Khalifa Fund for Enterprise Development, the Mohammed Bin Rashid Establishment for SME Development, Sharjah Entrepreneurship Foundation 'Ruwad', Saud Bin Saqr Establishment for Small and Medium Enterprises and Saud bin Rashid Al Mualla Programme for Supporting Youth Enterprises.