National Entrepreneurship Agenda propose  that by 2031 ,the United Arab Emirates hopes to have created a culture that encourages and rewards entrepreneurship by creating favorable conditions for new businesses to flourish. The United Arab Emirates plans to create 10 unicorn firms by 2031 as part of its strategy to become one of the world’s most entrepreneurial nations.

The United Arab Emirates (UAE) has developed an excellent ecosystem that encourages and controls business growth. Recognizing the potential of entrepreneurial enterprises to significantly contribute to the country’s GDP, the government has developed initiatives and programs to incubate and accelerate their growth. Full foreign ownership of enterprises across all industries, golden visas for entrepreneurs, and other benefits and incentives are only a few of the federal government’s initiatives.

Specialized free zones have been instrumental over the past two decades in laying the groundwork for entrepreneurship in the United Arab Emirates. The expansion and improvement of the entrepreneurial ecosystem can be attributed in part to these tax-free zones and other enablers like significant government initiatives and accelerators.

The “Fifty Economic Plan,” which lays out the UAE’s economic framework for the years 2021-2030, reflects the country’s dedication to entrepreneurship. The plan’s overarching goals are to elevate the United Arab Emirates (UAE) to the forefront of global innovation and technology and to foster a culture of entrepreneurship among the next generation.

The United Arab Emirates (UAE) has received international acclaim for its work to encourage entrepreneurship. For the years 2021 and 2022, the country has maintained its number one spot on the Global Entrepreneurship Index. This success is a result of continued governmental efforts to strengthen competitiveness on a global scale and improve the business climate. Recognizing the importance of the SME sector as a driving force for the national economy, the Ministry of Economy is dedicated to further improving the business climate to fulfill the demands of the SME sector.

The United Arab Emirates’ (UAE’s) dedication to promoting innovation, attracting investments, and positioning itself as a worldwide leader in the entrepreneurial environment is evidenced by its emphasis on entrepreneurship, supportive regulations, and attempts to create a favorable ecosystem.

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