The UAE is preparing to launch a new national entrepreneurship strategy aimed at strengthening the country’s position as a global hub for startups and increasing the contribution of small and medium-sized businesses to GDP and employment, Economy and Tourism Minister Abdullah bin Touq Al Marri said.
The strategy will soon be presented to the UAE Entrepreneurship Council, according to an interview with Al Bayan. The ministry is also consulting local entrepreneurship councils and founders before its release.
SMEs account for more than 95% of the UAE’s business ecosystem. The ministry plans to raise the share of procurement awarded to Emirati entrepreneurs from more than 12% currently to 15%, up from a 10% target.
Around 91,300 new companies were established in the UAE during the first half of the year, while active registered companies reached about 1.2 million by the end of July. The government is targeting 2 million registered companies and expects to reach that figure faster than initially planned.
Bin Touq also said he expects a very strong jump in UAE GDP during the fourth quarter of 2026, with stronger growth anticipated next year. He added that non-oil sectors would remain key drivers, although tourism, aviation, trade and real estate could face short-term pressure from regional and global developments.
The ministry developed 19 economic laws, decisions and policies during 2025 and the first half of 2026 to support competitiveness and investment attractiveness.
Source: Argaam
