June 6, 2023

UAE’s SME sector playing critical role in achieving economic growth

Small and medium enterprises (SMEs) in the UAE have taken on a critical and highly essential role in the move towards achieving economic growth and diversity as they represent more than 94% of the total number of companies operating in the country–ably provide jobs to more than 86% of the private sector’s workforce. SMEs in Dubai alone make up 95% of all its businesses, produce 42% employment opportunities and contribute 40% of the emirate’s gross domestic product (GDP). Wanting to put the spotlight on the important role that SMEs play in the country today, the 2022 edition of the Annual Investment Meeting (AIM), which will be held from March 29 to March 31, 2022, at the Dubai Exhibition Centre, EXPO 2020 Dubai, will tackle timely and important issues relevant to the SME sector.

Economic experts have pointed out that the percentage of the SMEs contribution to the UAE’s economic gains will continue to soar up to higher levels in the coming years reflecting the country’s commitment to elevating the entrepreneurship sector while also extending various forms of support to enhance SME growth.

SMEs in the UAE are key players in the continuing move to achieve economic prosperity and reinforce the country’s position as a leading global investment hub. AIM 2022 has been packaged as a strategic platform providing important activities like panels, workshops, and other related events centered on six main pillars.

The UAE’s excellent performance over the last few years can be credited to the equally strong performance of SMEs in the move to reinforce the economic standing. In line with this, AIM 2022 will also look towards consolidating our leading position in the global markets while also presenting a diverse number of opportunities for global investors.

The six pillars of AIM 2022 include Foreign Direct Investment (FDI); SMEs; Foreign Portfolio Investments (FPI); Startups; Future Cities; and the 50 Projects Initiative–a series of developmental and economic undertakings that have been designed to accelerate the UAE’s development and reinforce its position as a highly preferred destination for talents and investors. AIM 2022, which is being held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, will be offering a series of workshops, lectures, and networking events heavily focused on bolstering and improving sustainable investments. Other activities include the AIM Pre-conference Workshop & Seminar, AIM 2022 Conference, AIM 2022 Exhibition, AIM 2022 Innovation Showcase, Startup Hackathon, Startup Live Pitching Sessions, Site Visits, B2B, G2B, & G2G Meetings, AIM Global 2022 Investment Awards, AIM 2022 Startup Pitch Competition, and AIM 2022 Future City Awards.

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