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31.03.24 11:45

Economy

In UAE city, number of SMEs grew by 550 per cent in a year

Trade and logistics are the most popular areas for start-ups

The number of SMEs established in Dubai in 2023 has increased by 550 per cent compared to 2022. These are mainly firms involved in trade, logistics and IT. This is reported by Arab News.

Emirates authorities said 104 SMEs opened in Dubai over the 12 months.

The largest number of new companies appeared in the areas of trade and logistics (17 per cent), followed by IT (13 per cent) and food producers and agricultural companies (10 per cent).

Experts attribute this trend to the fact that the Emirates has a favourable business climate, including through legislation. The publication notes that the total number of Dubai International Chamber of Commerce offices worldwide has increased in 2023. At the moment, there are 31 representative offices.

Photo: iStock

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Nitin Gadkari

India's Union Minister for Road Transport and Highways

"Our resolution has just been passed. It is very important as far as the BRICS countries are concerned, which cover 40 per cent of the world's population. We are committed to the futuristic development of the transport sector, to create cooperation, coordination and communication between the stakeholders. This resolution indicates a lot of new technology and innovation in the transport sector. It covers the road sector, railways, aviation and water transport"

Prabowo Subianto

President of Indonesia

"This roadmap sets the framework for our joint efforts. Indonesia and Belarus have great potential for expanding cooperation in various fields. Our cooperation will focus on industrial development and agricultural modernisation. In industry, we see a major opportunity to increase trade volumes, investment, and cooperation between our two countries. We are also pushing for closer collaboration in culture and human resource development"

Liao Fan

Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS)

"We also encourage countries of the Global South to work together and contribute to the global economy. We also call on developed countries to set aside issues such as national security and strategic competition when we are discussing real global challenges – pressing issues such as public health or poverty reduction – so that development resources can be channelled truly effectively to those countries that need them. [...] Major powers and large countries must bear greater responsibility for the well-being of people around the world. This is the responsibility of the major powers"

Anutin Charnvirakul

Prime Minister of Thailand

"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"

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