Ministry Of Economy Announces Plans For SME Sector For 2020

The National Programme for Small and Medium Enterprises of the Ministry of Economy, the executive arm of the UAE SME Council, announced its plan to support and stimulate the country’s SME sector and promote entrepreneurship during the year 2020, encompassing specialised training programmes and courses for entrepreneurs, establishing a link with the European Business Network, etc.

It also includes the hosting of the SME Forum, participation in leading exhibitions, and recognition for SMEs and innovation at the regional and global levels, among other programmes and services for the sector. The details of the strategic plan were announced today during a press conference held by the Ministry in the Customer Happiness Centre at its headquarters in Dubai.

Dr. Adib Al Afifi, Director of the National Programme of Small and Medium Enterprises, said that entrepreneurship and the SME sector continues to be an important area of focus for the wise leadership owing to its pivotal role in the development of the national economy.

He said, "The plan for 2020 includes a set of programmes, initiatives and activities that are aimed at empowering Emirati entrepreneurs and encouraging SMEs and creating awareness over the best practices and the latest trends in entrepreneurship development. It will also enhance administrative and commercial capabilities and the innovative practices of private sector companies by providing them with the effective tools needed to achieve commercial success and business continuity. Furthermore, it will help them expand their operations in various vital fields, in addition to connecting them with new regional and global markets."

Al Afifi continued, "The number of Emirati SMEs that were activated through the National Programme for SMEs portal included 2,000 entrepreneurs in 2019 compared to 1,500 in 2018. This marks an increase of 33 percent and the number is expected to touch 5,000 by the end of 2020."

Al Afifi said that the National Programme members will participate in the SMEs Forum 2020 that will be held on the sidelines of the Annual Investment Meeting, which will serve as an ideal platform to connect them with global companies that are investing and looking for commercial and investment opportunities in the UAE’s markets; to exchange knowledge, and to learn about innovative practices and operating and developing start-ups and SMEs.