It is estimated that Small and Medium Enterprises (SMEs) contribute 40 percent to Dubai’s GDP and employ 42 percent of the total workforce, said Fahad Al Gergawi, CEO of Dubai Investment Development Agency (Dubai FDI).

In a statement released on the occasion of 'Micro, Small and Medium-sized Enterprises Day', which is observed on June 27th, Al Gergawi, said, "The significance of such enterprises must not be overlooked as they are responsible for substantial employment and income generation opportunities across the world, thus playing a major role in poverty alleviation, socio-economic and sustainable development."

The CEO added that the new series of policies announced by federal and emirate governments are set to transform the nation’s business ecosystem by enhancing the ease of doing business, supporting new sectors and further developing SMEs.

"As we intensify our efforts to attract leading global entities that are capable of making a positive impact in the local economy, we look forward to extending our support to such initiatives and providing our expertise, resources, and knowledge to investors and businesses in Dubai," he concluded.