The UAE participated in the inaugural global ministerial meeting focused on small and medium-sized enterprises (SMEs), held in Johannesburg, South Africa, and organized by the United Nations International Trade Centre. The country was represented by Abdullah Al Saleh, the Undersecretary of the Ministry of Economy and Tourism.
Objectives of Participation
The aim of this participation was to enhance collaboration and share expertise in entrepreneurship, SMEs, green economy, financing, and digital transformation. This initiative aligns with the UAE’s vision to strengthen international cooperation frameworks and work jointly with various regional and international partners. The focus is on supporting the growth of the SME sector, enabling it to tackle challenges and achieve sustainability. The meeting attracted over 700 participants, including ministers, officials, private sector leaders, and entrepreneurs from more than 60 countries.
Key Insights from the Meeting
In his address, Abdullah Al Saleh emphasized that SMEs are a vital pillar of global economic growth, representing over 90% of all operating businesses worldwide. These enterprises play a significant role in job creation across diverse community segments, fostering economic diversification, and supporting an environment conducive to innovation and creativity. He noted that the meeting served as a new platform for discussions aimed at developing economic initiatives and policies that bolster the growth and prosperity of SMEs while addressing the challenges they face, particularly in securing financing to expand their operations and maintain sustainability. Achieving this requires collective efforts to formulate practical and empowering solutions for growth and competitiveness in both local and international markets.
UAE’s Commitment to SMEs
Al Saleh further highlighted that, under the guidance of its leadership, the UAE has prioritized the development of a legislative and regulatory framework for SMEs based on best practices. Currently, small and medium enterprises account for 95% of all businesses in the UAE and employ approximately 86% of the private sector workforce. The country is home to over 50 government and private business incubators and accelerators. The UAE has also ranked first globally for the fourth consecutive year in the Global Entrepreneurship Monitor 2024-2025 report, which recognized it as the best environment for entrepreneurship and SMEs out of 56 economies included in this year’s analysis.
Financing Opportunities
The meeting underscored the financing options and opportunities available through both government and private sector institutions in the UAE, which provide training and funding for SMEs throughout the country.