Middle East Needs to Create Around 75 Million Jobs to Keep Up With Growing Populations;
SMEs in the Region Represent 80 Per Cent of All Business;
SAP Committed “Going Extra Mile” To Empower SMEs
SAP AG (NYSE: SAP) today reiterated its commitment to helping small and midsize enterprises (SME) in the Middle East & North Africa (MENA) region unlock new routes to innovation and competitiveness.
“SMEs are the engine of growth of the region’s economy,” said Luis Murguia, SVP Ecosystem and Channels, SAP Europe, Middle East and Africa, speaking at the SAP SME Summit in Istanbul, Turkey. “They are adopting innovation faster than ever, they are winning against larger players and, more than ever before, we need to partner with them and to empower them with the right technology at the right time.”
According to the International Finance Corp (IFC), the Middle East needs to create around 75 million jobs to keep up with growing populations. SMEs in the region represent 80 per cent of all business, making them a crucial employment engine. According to official statistics, the United Arab Emirates (UAE) alone has more than 230,000 SMEs, which employ 42 per cent of the overall workforce and contribute to over 40 per cent of the country’s GDP.