Today's Edition
ABU DHABI (WAM)
Acting CEO of the Khalifa Fund for Enterprise Development and Executive Director of the SME Sector at the Abu Dhabi Department of Economic Development, Moza Obaid Al Nasri, revealed that SMEs in Abu Dhabi constitute over 90 percent of total businesses, employing nearly half of the workforce and contributing 42.8 percent to the emirate’s non-oil GDP.
In her statement, Al Nasri highlighted the pivotal role of SMEs in driving economic growth, innovation, and diversification.
She noted that Abu Dhabi has created a competitive and inclusive business environment, which is among the fastest-growing startup ecosystems in the MENA region, with a 28 percent increase in value.
Al Nasri underscored the importance of the 'Falcon Economy' strategy, which focuses on high-growth sectors, and highlighted ongoing efforts to provide a supportive regulatory and financial environment for SMEs.
These initiatives are designed to stimulate innovation and sustainable growth, supported by strategic investments.
Ahead of the Abu Dhabi Business Week, she reiterated the emirate's commitment to empowering SMEs, offering resources and networking opportunities to address business challenges.
The event is set to bring together leaders from the public and private sectors to foster dialogue, policy development, and partnership opportunities.
Al Nasri concluded by emphasising the role of the Khalifa Fund in supporting entrepreneurship through access to funding and expert consultancy, aimed at scaling local and international business ventures.
The Abu Dhabi Business Week will also feature the Khalifa Fund Entrepreneurship Competition, providing startups with the chance to present their ideas to investors for potential funding and support.
