Sunday , 23 September 2018

SMEs contribute 40% to Dubai’s GDP

Businessmen shaking hands in hotel room

New govt policies are set to transform business ecosystem by making it easy to do business, and support new sectors

Small and medium enterprises (SMEs) are estimated to contribute 40 per cent to Dubai’s gross domestic product (GDP) and employ 42 per cent of the total workforce, said a top official.

The significance of such enterprises must not be overlooked as they are responsible for substantial employment and income generation opportunities across the world, thus playing a major role in poverty alleviation, socio-economic and sustainable development, Fahad Al Gergawi, chief executive officer of Dubai Investment Development Agency (Dubai FDI), was quoted as saying in a Wam report.

The announcement was made on the occasion of ‘Micro, Small and Medium-sized Enterprises Day’, which is observed today (June 27).
The CEO added that the new series of policies announced by federal and emirate governments are set to transform the nation’s business ecosystem by enhancing the ease of doing business, supporting new sectors and further developing SMEs, said the report.

About Marc Mcilhone

Marc Mcilhone
Marc Mcilhone is ArabBrains' Editor - sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives. Please email press releases and news to: editor@arabbrains.com

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