Executive Officer of Emirates airline and Group. “We need to further enable the creation and development of quality enterprises that are innovative and globally-oriented. Dubai SME 100 will serve as a foundation for other SME initiatives including the possible development of a SME secondary listing and the building of an equity market dedicated to SMEs,” he said.
“Small and medium enterprises are uniquely placed to attract much-needed private equity into our economy. In many developed economies, high performance SMEs are supported by financial markets. SMEs also have the flexibility, variety and adaptability to lead diversification like no other,” UAE Minister of Economy Sultan bin Saeed Al Mansouri said.
Mansouri said the UAE is in the final stage of drawing up a federal law for SMEs which is due later in 2011. The draft law will be submitted to the cabinet by the middle of this year, he added.
The minister also said that the country’s economy is growing faster than expected this year. The International Monetary Fund predicted a 3.25 per cent GDP growth for the UAE this year. In a recent announcement the Fund also increased its forecast for non-oil GDP from two to 3.25 per cent.
“Small and medium enterprises are uniquely placed to attract much-needed private equity into our economy. In many developed economies, high performance SMEs are supported by financial markets. SMEs also have the flexibility, variety and adaptability to lead diversification like no other,” UAE Minister of Economy Sultan bin Saeed Al Mansouri said.
Mansouri said the UAE is in the final stage of drawing up a federal law for SMEs which is due later in 2011. The draft law will be submitted to the cabinet by the middle of this year, he added.
The minister also said that the country’s economy is growing faster than expected this year. The International Monetary Fund predicted a 3.25 per cent GDP growth for the UAE this year. In a recent announcement the Fund also increased its forecast for non-oil GDP from two to 3.25 per cent.
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