Bin Salem highlighted that SMEs constitute over 75-80 percent of total enterprises globally…reports Asian Lite News
Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry (FCCI), discussed with Noah Debeila, President and Director-General of MSME Chambers in the Republic of South Africa, the role of SMEs in economic development, particularly in industrial growth.
The meeting was attended by Buhlebokukholwa Sibanyoni, Founder and CEO of Azanyah Trade Hub, and Ahmed Juma Al Qaizi, FCCI Assistant Secretary-General.
Bin Salem highlighted that SMEs constitute over 75-80 percent of total enterprises globally. In less developed countries, particularly in Africa, their role is even more critical, as they represent the vast majority of productive businesses and align well with the economic and social conditions of African communities.
He emphasised the importance of SMEs in diversifying income sources and fostering creativity and innovation. He also commended the efforts of commercial chambers in showcasing the pivotal role of SMEs in supporting the UAE’s economy, encouraging Emirati entrepreneurs to engage in commercial and service sectors, and assisting them in establishing their businesses.
He noted that these efforts contribute to creating a supportive environment for SMEs and reinforce their role in advancing the UAE’s sustainable development plans.
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