July 1, 2022
2 mins read

UAE, S. Korea join hands to support entrepreneurship, SMEs

The UAE is one of the leading countries in the field of entrepreneurship and is ranked first in this area, according to the Global Entrepreneurship Monitor (GEMS) in 2021…reports Asian Lite News

The UAE, represented by the Ministry of Economy’s National Programme for Small and Medium-Sized Enterprises (SME), signed, with South Korea, represented by the Korea Knowledge Sharing Programme of the Korea Development Institute, a joint cooperation programme to support entrepreneurs and SMEs.

The programme comprises 11 federal and local authorities concerned with entrepreneurship and SMEs in the country, including the Ministry of Finance, the Central Bank of the UAE, the Khalifa Fund for Enterprise Development, and the Mohammed bin Rashid Establishment for SME Development, as well as the Korea Development Institute, the Korea Institute of Government Procurement, Hanyang University, and several other Korean institutions.

During the 11-month programme, the two sides will discuss their cooperation in entrepreneurship and SME development, and its participants will analyse the business environment in the two countries in terms of policies, incentives, development frameworks and means of financing.

Abdullah Al Saleh, Under-Secretary of the Ministry of Economy, said the UAE is keen to enhance the competitiveness of the business environment and support entrepreneurship, being one of the foundations of the country’s new economic model and a key driver of income diversification.

He added that the cooperation with the South Korean side is a new milestone aimed at exploring the best global practices in the field of entrepreneurship, as well as an opportunity to support SMEs in the country.

The UAE is one of the leading countries in the field of entrepreneurship and is ranked first in this area, according to the Global Entrepreneurship Monitor (GEMS) in 2021.

At the same time, South Korea is a global model of supporting SMEs, and the launch of the programme to promote the joint visions and strategies of the two countries in entrepreneurship and exchange the best-related practices.

ALSO READ:UAE sends food aid to Ukrainian refugees in Bulgaria

The Ministry of Economy recently signed a Memorandum of Understanding (MoU) with the Korea Federation of SMEs in April 2022 to promote cooperation between the two countries in relevant areas.

The ministry also announced the new national programme’s identity, through which Emirati entrepreneurs and SMEs can explore a series of related initiatives and comprehensive services.

For more information on these initiatives, you can visit the following link:
https://ddei5-0-ctp.trendmicro.com:443/wis/clicktime/v1/query?url=https%3a%2f%2fwww.uaesme.ae%2far&

Previous Story

Museum of the Future presents Dubai vision at Paris’ Louvre

Next Story

Shanghai Museums Reopen

Latest from -Top News

Pakistan reverses support for Trump’s Gaza peace plan

Pakistan retracts support for Trump’s Gaza peace plan, citing differences with Muslim nations’ draft; move reflects domestic sensitivities and regional alignment amid ongoing Middle East conflict diplomacy. In a surprising shift, Pakistan’s

Hamas agrees to release all hostages

Hamas agrees to release all Israeli hostages under Trump’s 20-point Gaza peace plan, backed by global powers and the UN, paving the way for regional stability. Hamas has formally agreed to release

Qatar now under US shield

Trump offers Qatar an unprecedented security guarantee, pledging US military protection amid Israeli strike and Gaza peace negotiations, reinforcing Qatar’s role in regional diplomacy. In an extraordinary move, the United States has

UAE condemns Manchester attack

UAE condemns Manchester synagogue attack; UK deploys extra police, PM Starmer vows protection for Jewish communities while emergency services respond to a shocking Yom Kippur tragedy. The United Arab Emirates has strongly
Go toTop

Don't Miss

Sheikh Zayed Festival concludes its activities and events

The Sheikh Zayed Festival concluded its activities on Friday, after

Dr. Abu-Ghazaleh lectures on the ‘Arab Economy in a New International Order’

He pointed out that the world is changing in every