06 Sep 10 factors that made the UAE the number one destination for entrepreneurship in the region
occupy United Arab Emirates The second place in the world in percentage Entrepreneursto the total population of the country. Their share of adults aged 18 to 60 reached 8.2% in 2019, coming after the United Kingdom at 8.4%. The UAE has succeeded in being at the forefront regionally and in the Arab world leading businessesby implementing ambitious plans Entrepreneurial activity. until a contribution is reached small projects and medium to 53% of the country’s non-oil GDP.
Factors that strengthened the UAE’s position as an investment destination
There are many factors that led the UAE to the fore in entrepreneurship. and become a destination for innovators in the region, Most notably:
1- Allowing companies that are 100% owned by foreign parties to compete in specific sectors.
2- Providing long-term visas for project owners and investors.
3- Attracting technology companies and supporting emerging companies through policies that stimulate investment.
4- Providing financing and facilitating the access of small and medium-sized companies to the necessary financing for work and expansion. Thus, the UAE occupies the first place regionally in total financing for startups.
5- The state stands by young innovators. It works to overcome obstacles in front of their projects, It adopts the strategy of establishing a generation that believes in the importance of change.
6- The state’s initiatives focus on enabling owners of small and medium enterprises and startups to face challenges. It also works to ensure the facilitation and continuity of their business and raise their competitiveness.
7- The state employs scientific research and modern technology to support the development process. This supports entrepreneurs to acquire the skills to achieve progress, and enhance their innovation activities, As part of its plan to build the economy of the future.
8- The state promotes the orientation of national entrepreneurs towards higher economic sectors and complex activities. In addition to activities based on applications of modern technology, artificial intelligence and advanced science.
9- The state always maintains ease of licensing and flexibility of legislation. Through the continuous development of the system of legislation and laws to suit the rapid and future changes.
10- The state is constantly implementing new policies to enhance the protection and confidence of investors, promoting free competition, protection of financial rights, and ensuring the continuity of economic activity. This has made the UAE the best destination for establishing a business in the world.
Other initiatives that support the entrepreneurial environment in the country include the In Abu Dhabi to develop the system of knowledge and innovation, and the Dubai Council for the Future of Entrepreneurship and the Innovative Environment.
in addition to, Expo 2020 is expected to support small and medium enterprises and promote entrepreneurship in the UAE.
The UAE is also one of the largest donor countries in the world to implement the Sustainable Development Goals, a program launched by the United Nations to work towards eradicating poverty and protecting the planet, as sustainability is at the heart of the government’s strategy to build a sustainable economy and enhance the well-being of citizens and residents on its land.
Conclusion
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