Dubai: Dubai's government wants to boost the number of small- and medium-sized enterprises (SME) operating in the UAE, Minister of Economy Sultan Bin Saeed Al Mansouri said yesterday.
He said the Ministry of Economy has taken major steps to build a robust infrastructure for the SME sector in the UAE over the last three years.
This is part of its mandate as the federal umbrella for developing the sector and encouraging a culture of innovation and a knowledge-based economy,
He added that a new law is in the pipeline to increase the global scope of SMEs in the UAE, as well as making it easier for UAE nationals to innovate and build effective and successful business projects.
"We have shared the draft law with all parties concerned in the UAE and now it is in its final stages," he said.
The minister also said the Ministry of Economy has established modern guidelines for SMEs on the lines of best international practices in cooperation with South Korea. The guidelines will be announced to the public soon.
In an attempt to exchange knowledge about the best practices of SMEs, the ministry has built strategic partnerships with the most experienced countries in the SME sector such as Italy, Germany and others besides South Korea, Al Mansouri said.
