The United Arab Emirates participated in the first-ever Global Ministerial Meeting for Small and Medium Enterprises, held in Johannesburg, South Africa. The UAE delegation, represented by H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, joined the international forum to share expertise in entrepreneurship, the green economy, and digital transformation.
By the Numbers
- 95%: The percentage of total companies in the UAE that are SMEs.
- 86%: The share of private sector employment provided by SMEs in the UAE.
- 1st: The UAE’s global rank for the fourth consecutive year in the Global Entrepreneurship Monitor report.
- 700+: Participants, including ministers and officials, from over 60 countries at the event.
A Global Platform for SME Development
The meeting, organized by the UN’s International Trade Centre (ITC) and South Africa’s Ministry of Small Business Development, served as a new platform to discuss policies that support the growth of SMEs worldwide. In his address, H.E. Abdullah Al Saleh emphasized that SMEs are a pivotal pillar in driving global economic growth, representing over 90% of all companies and playing a vital role in job creation and innovation.
Showcasing the UAE’s Leading Model
H.E. Al Saleh highlighted the UAE’s pioneering success in building a world-class legislative and regulatory ecosystem for SMEs. He noted that the country is home to more than 50 government and private business incubators and accelerators. This supportive environment has been internationally recognized, with the UAE ranking first globally as the best place for entrepreneurship for the fourth consecutive year in the 2024/2025 Global Entrepreneurship Monitor report.
National Initiatives to Empower Entrepreneurs
The UAE’s strategy to empower SMEs was a key focus. The delegation reviewed national initiatives developed by the Ministry of Economy to enhance the competitiveness of the entrepreneurial environment. These include the launch of the “Riyada” ecosystem, the Riyada Fund, and the “Entrepreneur’s Hub” digital platform, which connects founders with training and financing opportunities. Furthermore, the UAE has increased the share of SMEs in federal government procurement contracts to 10%, providing crucial support and market access.
Looking Ahead
The UAE’s active participation in this first global ministerial meeting reinforces its commitment to international cooperation in supporting the SME sector. By sharing its successful model and collaborating with global partners, the UAE aims to help find solutions to common challenges, such as access to finance, and to empower SMEs to compete and thrive in both local and global markets.
Source: Economy Middle East
