UAE & Israel are discussing developing the technological system
His Excellency Dr. Ahmad bin Abdullah Hamid Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, confirmed that implementing a wide range of measures and initiatives at the federal and local levels represents an advanced step on the road to enhance the openness of the UAE economy, pointing out that it provides a golden opportunity for the Israeli business community to benefit from the promising prospects for economic cooperation between the two countries in various vital fields, especially in developing quality projects in the advanced technological system, which will positively reflect on the local and regional economic scene.
This came during His Excellency’s participation in the event recently organized by Google under the slogan “Sharing in innovation – the startup ecosystem in the UAE and the State of Israel.”
UAE & Israel technological system
The event attracted the participation of high-level dignitaries, decision-makers, policy-makers, and leaders in the world of technology from the two countries, and a group of executives at Google.
His Excellency reviewed the UAE’s success in laying solid foundations for the development of the small and medium-sized companies sector in line with the highest standards and best practices followed at the regional and international levels, making it today one of the vital sectors that support the path of diversifying the national economy.
Al Falasi indicated that the sector’s contribution amounted to 53% of the UAE’s GDP in 2019, with a tangible growth compared to about 49% in 2018, and said: We are moving forward with our relentless efforts in order to provide the guarantee ways to increase the SME sector’s contribution to the Gross domestic product GDP. The total for the country to reach 60% by next year, as a commitment to support small and medium enterprises and emerging companies as a priority to drive the growth of the UAE’s economy in the future.
UAE focus areas
Al Hammadi pointed out that the state’s focus areas include health care, cyberspace, mobility, water, the fourth industrial revolution, agricultural technology, and food technology, and making the most of its geographical position as a link between the East and the West and a leading center on the global economic map, and preserving qualified human capital.
The signing of the Abrahamic Peace Agreement represents an advanced step to open up tremendous horizons for tech entrepreneurs in both the UAE and Israel and it works. Google has been in the State of Israel since 2005 and in the UAE since 2007, as it employs thousands of qualified human resources in the region. We look forward to moving forward in our efforts to contribute to supporting the technological system sectors in the UAE, the State of Israel, and the region with a focus on enabling entrepreneurs and companies to enter new markets and reach new consumers, thus strengthening our role as a driving force for the growth path in both national and regional economies.
Mahmoud Adi, the co-founder of Pure Harvest Smart Farms, said: The event provided an exceptional opportunity to communicate with the most prominent pioneers in Israel, the UAE and the State of Israel share a common vision and commonalities in developing the startup ecosystem, technological system, and innovation, which opens horizons.
UAE is the gateway to market share in the region
The UAE represents an important gateway to direct access to a large market share in the region.
Rashid Al Ghurair, the founder of CAFU, said: From my experience, I see that cultural diversity is one of the main strengths of the existence of start-up companies in the UAE, where there are over 200 nationalities living and working here in the state.