Abu Dhabi: The UAE Council for Entrepreneurship convened its second meeting of the year, led by Alia bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship. The assembly included council members from federal and local government bodies, economic development departments, and various councils and funds dedicated to promoting entrepreneurship within the nation.
According to Emirates News Agency, the meeting is part of ongoing efforts to improve the national entrepreneurial landscape and its enablers, aligning with the objectives of the 'We the UAE 2031' vision. The Council assessed recommendations from its inaugural meeting and progress in their execution. Discussions included reviewing Federal Law No. 2 of 2014 on Small and Medium Enterprises (SMEs), creating a unified database for entrepreneurs, and enhancing coordination among local entities to streamline support for the entrepreneurship ecosystem.
Alia Al Mazrouei emphasized the Council's commitment to developing effective frameworks and strategies to support entrepreneurs. This involves fostering integration among relevant entities and advancing national programs to boost the business environment's competitiveness. These initiatives aim to expand entrepreneurial ventures, enhance future readiness for entrepreneurs, and encourage startup growth, unlocking opportunities for partnerships and investment.
The meeting also explored ways to support entrepreneurs in expanding locally and globally, enhancing coordination among entities, and fostering partnerships with public and private sectors. The Council reviewed the Youth Entrepreneurship Council Strategy, aimed at empowering youth to lead innovative projects that cement the UAE's global leadership in entrepreneurship. Discussions included entrepreneurs' participation in international expos and engagements for 2025 to ensure effective UAE representation at key global events.
Preparations for the National Forum for Government Procurement were highlighted, aiming to improve UAE entrepreneurs' access to government tenders by allowing federal entities to present their projected contracts. This enables SME-owners to prepare bids and provides a platform for direct communication with contracting authorities to address challenges. The Forum will also review procurement ecosystem developments and facilitate experience exchange with funding entities.
The meeting concluded with an evaluation of progress in achieving the National Agenda for Entrepreneurship and SMEs, which aims to position the UAE as a global entrepreneurship destination while driving innovation and productivity within the sector. Discussions focused on the Agenda's seven pillars: ease of business practice, innovation, business support, digital transformation, access to finance, human capital, and demand increase.
