The UAE is the first worldwide in the Global Entrepreneurship Index 2022

The UAE ranked first globally in the Global Entrepreneurship Index 2022, according to the report released by the Global Entrepreneurship Monitor / GEM /, which rose from fourth place worldwide in last year’s report, outperforming all the world economies. report participate.

The country achieved the highest rate on the overall rankings of the index with 6.8 degrees, and ranked first worldwide in the surveys of entrepreneurs in the country conducted by the Global Entrepreneurship Monitor, as the best body in the world for the foundation and starting businesses and the most supportive environment for entrepreneurship.

Economy Minister Abdullah bin Touq Al Marri said: “An excellent result and a groundbreaking global achievement achieved by the United Arab Emirates thanks to the support and vision of his wise leadership for the new fifty years of the country’s life in to put it at the forefront of global economies in developing the entrepreneurship system and providing an empowering environment for companies and an incubator for entrepreneurs Attractive to entrepreneurial projects, especially those based on new ideas, innovation and emerging technologies.

He added: “We are proud of this result, which is due to the long-term vision of the wise leadership, which has placed the entrepreneurship sector at the forefront of the country’s development priorities and economic plans. The entrepreneurship sector and small and medium-sized companies in the UAE.

He stressed that this result is the culmination of the joint and sustained efforts of the Ministry of Economy and its partners of all federal and local authorities, institutions, funds and local programs involved in small and medium enterprises in the country, academic bodies and international partners.

He continued, “The result represents a clear message to investors, business owners and companies within and outside the country that the UAE has a strong economic climate and flexible and proactive policies that are capable of meeting all the ingredients and incentives. provide what is needed to attract and establish businesses and engage in economic activities, in particular through the small and medium business model, where companies starting at the UAE can To take advantage of the promising opportunities and the supporting benefits that the business environment offers to grow and transform into large and successful companies, and to reach regional and global markets from the UAE.

In turn, dr. Ahmed Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, said that the UAE’s position as the first worldwide in entrepreneurship and the leader in all countries of the world by providing the most supportive environment for entrepreneurship and the start-up of commercial activity is a new pivot to be added to the record of achievements it has achieved. The UAE, thanks to the wise vision and continued support of its wise leadership, especially in the development of the entrepreneurship sector as one of the engines of the future knowledge economy and the locomotive of the national economy towards diversity, competitiveness and sustainable growth.

He added: “The result confirms the effectiveness of the experience the UAE has gained over recent years in developing an integrated and world-class entrepreneurship system, accelerating the growth of small and medium-sized enterprises, and launching initiatives and programs that activities of small and medium-sized enterprises make a major contribution to increasing the country’s non-oil GDP and promoting the transformation to Technology, innovation and the knowledge economy at a faster pace and in line with the principles of the 50 and UAE Vision 2071. ”

He explained that this result would benefit all sectors and economic activities, entrepreneurs and investors in all emirates of the country and strengthen confidence in the UAE markets as the preferred economic destination to do business and establish pioneering projects.

He reviewed the most prominent successive exceptional achievements of the entrepreneurship model in the country over the past year and this year, as the country ranked first in funding emerging projects and entrepreneurship, and for the first time in its history more than it attracted a billion. dollars in venture capital to fund small and medium-sized businesses and emerging projects. And the 50 projects were launched to develop incentives for national entrepreneurship, and the largest range of public-private partnerships were implemented to launch the Entrepreneurship House to represent a gateway to the development of entrepreneurial practices and projects to new levels and supporting the establishment and attractiveness of more than 20 billion companies in the country’s markets during the ten years ahead.

He continued: “The UAE has today managed to consolidate its position as the first home for entrepreneurship in the world, and the preferred destination for talents and owners of entrepreneurial ideas that are commercially viable as it is the entrepreneur and the owners of new projects. with all the potential to be one of the best and most successful globally, and we will continue our efforts in collaboration between government and the private sector to ensure continued growth and momentum in entrepreneurial activities in the country during the next phase. ”

According to the report, the UAE improved on 11 of the 13 axes included in the index structure, and it was the only country in the world to participate in the report. Includes: Entrepreneurship funding, support for government policies and programs, integration of an entrepreneurial culture in education, business infrastructure and level of professional competencies, easy access to markets, physical infrastructure, level of research and development and knowledge transfer, entrepreneurial culture in society, and others.

The report focused on the outstanding positive results that the country has achieved in a number of criteria that are taken into account within the methodology and questionnaires that are implemented to achieve the result for each country. The country has also achieved high rates in other criteria such as: good opportunities to start a business, availability of skills and knowledge to start a business, confidence in the ability to meet the challenges posed by COVID-19, planning to use more digital technology to grow business, and the ability of entrepreneurship projects in the country to generate new jobs in the coming years.

The Global Entrepreneurship Index is one of the indicators of the national agenda for the UAE Vision 2021, under the heading “a competitive knowledge-based economy based on innovation”, and is supervised by the Ministry of Economy, and a national team contributes to it. with the participation of many entities involved in entrepreneurship in the country, including the Prime Minister’s Office and the Federal Competitiveness Center Statistics and relevant federal and local authorities.

The index is issued by the Global Entrepreneurship Monitor (GEM), which is the number one global reference in entrepreneurship for countries and international organizations such as the World Bank, International Monetary Fund, Organization for Economic Co-operation and Development (OECD), World Intellectual Property. Organization (WIPO) and United Nations organizations. The Observatory’s annual report is the largest study on entrepreneurship and its activities in the world, as it includes a summary of research conducted by the Observatory on global economies to measure the extent of their “entrepreneurship”. The report’s methodology focuses on achieving three objectives: measuring the differences in entrepreneurial activity across the world’s economies, and understanding the ecosystem. improve and develop activity.

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