UAE aims to increase the number of SMEs to 1 million by 2030
According to Bin Touq Al Marri, Minister of Economy, the number of small and medium-sized firms (SMEs) operating in the UAE by the end of 2022 was 557,000, in accordance with the country’s ambition to increase this number to one million by the end of 2030. He noted that SMEs account for 63.5 percent of non-oil GDP and that the Ministry’s involvement in building an investment climate that supports citizens who own SMEs is in accordance with the Ministry’s aim of establishing a globally competitive knowledge-based economy headed by UAE Nationals.
He also stated that the Ministry’s goal is to establish a Business climate that attracts Investment and ensures competitiveness among SMEs, as well as to defend consumer rights and encourage Foreign Direct Investment (FDI).
SMEs are prioritized in the country’s economy and are key drivers of non-oil GDP, according to Al Marri, who also stated that the country’s economic strategy for the next 50 years intends to stimulate entrepreneurship and SMEs, as well as to instil an entrepreneurial culture in future generations.
Dubai real estate transactions: The Dubai real estate market registered 502 sales transactions worth Dhs1.44 billion on Thursday, in addition to 95 mortgage agreements for Dhs.898.52 million and 13 gift deals worth Dhs.21 million, according to statistics supplied by Dubai’s Land Department (DLD).
465 homes and flats for Dhs.1.1 billion and 37 land plots worth Dhs.340.65 million were sold. The mortgages comprised 78 houses and flats worth Dhs.868.7 million and 17 land plots worth Dhs.29.82 million, bringing today’s total real estate transactions to over Dhs.2.3 billion.
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