UAE to up SMEs contribution to GDP

Dubai – Mubasher: UAE plans to raise the contribution of small and medium-sized enterprises (SME) to the gross domestic product (GDP) to 70% by 2021, according to a press release on Saturday.

SME share in the gross domestic product ticked 60%, said Minister of Economy Sultan bin Saeed Al Mansouri on Saturday, expecting GDP  to reach AED 1.8 trillion by the end of 2016.

The GDP widened 209% year-on-year to AED 1.58 trillion from AED 511 billion, the minister added in the economic annual report.

The UAE intends to sing 15 memorandums of understanding up till 2021 in order to enhance cooperation as well as knowledge and technology transfer for fields in which SMEs are involved, the annual report revealed.  

Mubasher Contribution Time: 03-Dec-2016 10:35 (GMT)
Mubasher Last Update Time: 03-Dec-2016 10:35 (GMT)