Minister Abdullah bin Touq highlights SMEs’ 63.5% contribution to non-oil GDP as UAE accelerates its entrepreneurial growth strategy
The UAE has unveiled ambitious plans to grow its entrepreneurial ecosystem, targeting more than two million companies and the creation of at least 10 unicorns by 2031, according to Abdullah bin Touq Al Marri, Minister of Economy and Tourism.
Speaking on the nation’s economic outlook, Al Marri emphasized that small and medium-sized enterprises (SMEs) are already playing a central role, contributing an impressive 63.5% to the country’s non-oil GDP. This achievement underscores the sector’s importance in advancing the UAE’s economic diversification strategy and strengthening its resilience.
The roadmap reflects the UAE’s long-term vision to become a leading global hub for business and innovation, positioning startups and SMEs as key drivers of sustainable growth. By fostering entrepreneurship and enabling an ecosystem that encourages innovation, investment, and scalability, the country aims to attract international talent and empower local businesses to compete globally.
Al Marri noted that creating at least 10 unicorns—privately held startups valued at over $1 billion—will be a cornerstone of the UAE’s mission to solidify its position as a global leader in innovation-driven enterprises.
As the UAE continues to diversify beyond oil, these targets not only align with the country’s economic transformation agenda but also reaffirm its role as one of the world’s most attractive destinations for entrepreneurs and investors alike.
