H.E. Alia Al Mazrouei briefs Italian women entrepreneurs on UAE's supportive ecosystem for entrepreneurship & SME growth
Abu Dhabi: Her Excellency Alia Bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship, participated in a panel discussion titled ' Entrepreneurship Without Borders,' hosted by Claudia Parzani, Chair of the Milan Stock Exchange. The session, held as part of the third edition of Investopia Europe in Milan, brought together over 100 Italian women entrepreneurs. Discussions focused on developments in the business landscapes of the UAE and Italy and highlighted the importance of empowering women in economic and commercial sectors.
During the session, H.E. Alia Al Mazrouei highlighted the UAE's supportive ecosystem for entrepreneurship and SME growth, and its role in attracting entrepreneurs from around the world. She also emphasized the country's flexible economic legislation that facilitates the establishment of startups across various sectors and economic activities.
Her Excellency noted that the UAE and Italy enjoy a strong and multifaceted economic partnership, underpinned by shared visions for the future economy, including digital and technological sectors. This alignment presents a valuable opportunity to deepen cooperation in the field of entrepreneurship, in a manner that supports the strategic goals of both nations.
Her Excellency said: 'Under the directives of its wise leadership, the UAE has made it a priority to enhance women's contribution across various economic sectors by encouraging them to launch pioneering projects that drive economic development and support the achievement of greater gender balance. By the end of 2024, the number of commercial licenses held by Emirati women entrepreneurs in the UAE market exceeded 135,000 - reflecting a 23 per cent increase. In the first half of the year alone, nearly 2,000 new companies were established by Emirati businesswomen, underscoring their growing presence and active role in the national business community.'
Her Excellency added: 'Small and medium-sized enterprises are a key driver of growth and sustainability of the national economy. They play a pivotal role in advancing the UAE's transition toward a knowledge- and innovation-based economic model, while supporting the objectives of the 'We the UAE 2031' vision, which aims to double the national GDP to AED 3 trillion by the next decade. In support of this goal, the UAE has launched a range of initiatives and strategies designed to provide SMEs with access to financing, resources, and capabilities that foster business development and global market entry. These efforts are further bolstered by the UAE's strategic geographic location, serving as a vital link between East and West, and North and South.'
In this context, Her Excellency briefed attendees on the wide range of services and incentives offered by the UAE's National Program for SMEs, which includes over 25 support measures for entrepreneurs. She also highlighted the 'Future 100' initiative, along with other key components of the UAE's entrepreneurship ecosystem, which are designed to enhance national competitiveness and raise the success rate of entrepreneurs from 30% to 50% by 2031. Among the most prominent initiatives are the Riyada Fund and the UAE Entrepreneurship Council.
Furthermore, H.E. Alia Al Mazrouei invited Italian women entrepreneurs to expand their businesses and launch new ventures in the UAE across various economic sectors, encouraging them to seize the wide array of opportunities available. She emphasized that the UAE has ranked first globally for the fourth consecutive year in the Global Entrepreneurship Monitor 2024-2025 and has been recognized as the top destination for entrepreneurship and SMEs among 56 economies worldwide. Today, SMEs represent 95 per cent of all companies operating in the UAE.
Her Excellency noted that the UAE Ministry of Economy is actively promoting digital transformation and the adoption of advanced technologies by SMEs, with a particular emphasis on artificial intelligence. This priority area is being advanced in collaboration with relevant ministries and authorities at both regional and global levels, reflecting the central role of technology and innovation as key pillars of the UAE's future economy.
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