Abu Dhabi Chamber of Commerce Launches Startups and SMEs Working Group
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has unveiled the formation of a dedicated working group aimed at supporting startups and small and medium-sized enterprises (SMEs) operating within Abu Dhabi. This strategic initiative aligns with ADCCI’s vision to position the Emirate as the premier destination for business in the Middle East and North Africa (MENA) region by 2025.
Operating under the auspices of ADCCI, the Startups and SMEs Working Group is committed to empowering businesses and enhancing their contribution to Abu Dhabi’s economic development. Through collaboration with governmental bodies and the private sector, the group endeavors to address challenges facing startups and SMEs, foster innovation, and drive economic diversification, thereby ensuring sustained growth and progress.
With a focus on creating a conducive business environment, the working group recognizes the significant role played by startups and SMEs in providing employment opportunities for over 46% of the Emirate’s workforce, while contributing 42.8% to Abu Dhabi’s non-oil GDP. Its efforts will center on understanding the needs of these enterprises, assisting them in navigating market dynamics, and reinforcing their position as vital components of a diversified and sustainable economy.
His Excellency Fouad Darwish, Board Member of ADCCI and Chairman of the Startups and SMEs Working Group, emphasized the group’s mandate to devise plans and policies aimed at attracting enterprises to burgeoning sectors, particularly those experiencing rapid technological advancements. Additionally, the group will spearhead programs and initiatives tailored to provide guidance and skills to startups and SMEs, facilitating cooperation and the exchange of ideas and opportunities.
His Excellency Ahmed Khalifa Al Qubaisi, CEO of ADCCI, hailed the establishment of the Startups and SMEs Working Group as a significant step towards bolstering the growth of this vital sector. He underscored the collaborative efforts of ADCCI and governmental entities in fostering an enabling environment for the sector’s growth, aligning with Abu Dhabi’s long-term vision and strategic objectives.
The working group is poised to accelerate the growth of startups and SMEs by formulating strategic plans and policies and fostering an environment conducive to knowledge exchange and experience sharing. These endeavors aim to empower startups and SMEs to innovate and expand their activities, thus contributing to a more competitive economy.
In conclusion, the sectoral working groups, including the Startups and SMEs Working Group, serve as vital conduits for communication between government entities and the private sector, playing a pivotal role in attracting investments and promoting sustainable economic development in Abu Dhabi.
