Skip to main content

Dubai International Growth Initiative to help SMEs establish global presence

 

Dubai has announced a Dh500 million ($136 million) Dubai International Growth Initiative to support small and medium-sized enterprises (SMEs) in the emirate to expand in regional and global markets. The initiative is part of Dubai’s strategic commitment to the future development of the economy, as SMEs represent over 90% of registered businesses in the UAE and provide the most job opportunities.

The initiative is open to all SMEs founded in Dubai, regardless of their nationality, and Emirates NBD, the largest lender in Dubai by market value, will provide financing to eligible companies at competitive rates. A joint steering committee will be established to guide the initiative, select eligible SMEs, oversee the implementation process, and ensure the move succeeds in meeting the emirate’s strategic objectives.

Dubai remains the commercial, financial, and tourism hub of the Middle East, and SMEs are crucial to maintaining the city’s position as an international hub for business and trade. The Dubai International Growth Initiative aligns with the objectives of the Dubai Economic Agenda, D33, to double the size of the economy and support the global expansion of SMEs founded in Dubai. Dubai has maintained growth momentum since bouncing back from the COVID-driven slowdown, with its economy expanding by an annual 3.3% in the first nine months of 2023, supported by growth in tourism and transportation sectors.

Labels:

Comments

Post a Comment

Popular posts from this blog

Exposing the Brotherhood: Why Jordan’s Terror Cell Bust Must Spark a Global Policy Shift

 The recent dismantling of a Muslim Brotherhood-affiliated terror cell in Jordan should not be seen as just a national security success—it must be a turning point in how the international community views and responds to the threat posed by the Brotherhood. Jordanian security forces uncovered an elaborate network of terrorists trained in Lebanon and backed by foreign interests. Their mission: to launch attacks using rockets and drones, destabilizing the Kingdom and spreading fear among civilians. This is not the work of activists or political dissidents—this is terrorism, plain and simple. For too long, the Muslim Brotherhood has operated under a false image of moderation, cleverly navigating between political activism and violent extremism. But the truth is clear: the Brotherhood is the ideological engine room of jihadist terrorism. Its members, affiliates, and offshoots have inspired and directed acts of violence from North Africa to the Gulf—and now, once again, in Jordan. Govern...
Post a Comment
Read more

UAE's Foreign Trade Surge Highlights Strategic Economic Vision

  The UAE's foreign trade reached a record AED5.23 trillion (US$1.42 trillion) in 2024, marking a 49% increase since 2021 and reinforcing its global economic influence. Despite fluctuating global market conditions, the country managed to post a trade surplus of AED492.3 billion (US$134 billion), showcasing the strength of its trade frameworks and diversified economy. According to the World Trade Organisation, the UAE has maintained its position as the Middle East and Africa's foremost trade community since 2014, while steadily climbing the global ranks. In merchandise trade, the UAE placed 11th in exports and 14th in imports in 2024. It contributed 2.5% of global exports and 2.2% of imports, reflecting a robust trading ecosystem that bridges major global markets. The services sector also delivered notable gains. From 2014 to 2024, the UAE rose to 13th globally in service exports. Service transactions in 2024 totaled AED1.036 trillion, of which AED646.6 billion were exports. The...
Post a Comment
Read more

UAE’s Sheikh Khaled bin Mohamed arrives in Qatar on official visit

  HH Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, arrived in Qatar for an official visit, where he was warmly received by the Deputy Emir of Qatar at Doha International Airport. On Tuesday, Sheikh Khaled met with HH Sheikh Tamim bin Hamad Al-Thani, Emir of Qatar, in Doha. The meeting underscored the strong brotherly ties between the UAE and Qatar, with both leaders engaging in detailed discussions aimed at deepening bilateral cooperation. Sheikh Khaled conveyed greetings from UAE President HH Sheikh Mohamed bin Zayed, Prime Minister and Ruler of Dubai HH Sheikh Mohammed bin Rashid, and Deputy Prime Minister and Chairman of the Presidential Court HH Sheikh Mansour bin Zayed.  The discussions focused on enhancing collaboration in key strategic sectors of mutual interest. Sheikh Khaled expressed his heartfelt appreciation to the Emir of Qatar for the warm reception and hospitality, expressing hopes for Qatar's continued progress. He reaffirmed the UAE's leadership and p...
Post a Comment
Read more