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.