UAE sets target of over 2 million startups by 2031

The UAE aims to expand its entrepreneurial ecosystem by increasing the number of startups to more than 2 million by 2031, according to Minister of Economy and Tourism Abdulla Bin Touq Al Marri. This is reported by Emirates News Agency (WAM), a partner of TV BRICS.

Speaking on the sidelines of a press briefing, the minister said the country also targets the creation of 10 unicorn startup companies within the same timeframe, five of which have already emerged. He stressed that entrepreneurs and startups are central to the UAE’s economic growth.

The minister underlined that the UAE’s strategy includes economic clusters, food security policies, innovation and intellectual property frameworks, and Comprehensive Economic Partnership Agreements to ensure a supportive environment for new ventures.

Currently, the UAE hosts over 1.2 million companies, with nearly one million owned by entrepreneurs, representing 94 per cent of the total. Small and medium-sized enterprises contribute around 63.5 per cent of non-oil GDP and account for 95 per cent of all registered businesses.

Abdulla Bin Touq Al Marri emphasised that the country’s infrastructure at both federal and local levels is fully equipped to support entrepreneurial growth, positioning the UAE as a global hub for startups in the coming decade.

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