Media ININ Economy We Trust
Abu Dhabi on October 1st
His Excellency Abdullah bin Touq Al Marri, Minister of Economy, visited the “Station F” startup incubator, the “Airbus” Innovation Center, and the headquarters of First Abu Dhabi Bank, on the sidelines of his official visit to the Republic of France, heading an economic delegation from the UAE, to discuss strengthening cooperation. Shared economic growth in a wide range of vital sectors, including renewable energy, tourism, aviation, entrepreneurship, artificial intelligence, space, intellectual property, and the circular economy.
During his tour of the startup incubator, His Excellency learned about the innovative programs and initiatives it offers to support entrepreneurs and owners of small and medium-sized companies, especially those working in the fields of advanced technology, and ways to benefit from the “Station F” experience in supporting and developing the Emirati entrepreneurship system.
In this regard, His Excellency Ibn Touq stressed that the UAE has an advanced system that supports entrepreneurs and their innovative projects, and provides them with all the possibilities for growth and prosperity inside and outside the UAE markets, through a strong and flexible economic legislative system that guarantees them fair competition and equal access to available opportunities, and programs and initiatives. A pioneer that constantly develops them and refines them with the required skills that are in line with new economic models.
He pointed out that the Ministry of Economy is constantly working to support national efforts aimed at developing entrepreneurship as one of the pillars of the country’s new knowledge economic model in light of the “We Are the Emirates 2031” vision, and to stimulate and provide the necessary funding for the activities of emerging companies that target the sectors of the new economy, in a way that contributes to Supporting the sustainable growth of the national economy, through its cooperation with a wide group of its strategic partners locally, regionally and internationally.
The UAE aims to reach the total number of small and medium-sized companies to one million by 2030, while the number of small and medium-sized companies registered in the Emirates will reach about 557,000 companies by the end of 2022. The small and medium-sized companies sector contributes 63.5% to the non-oil GDP, and it The UAE has strengthened its lead in the Global Entrepreneurship Index 2023 for the second year in a row, which is issued by the Global Entrepreneurship Observatory, outperforming many countries in the world as the best business incubator environment.
In a related context, His Excellency Abdullah bin Touq, Minister of Economy and Chairman of the Board of Directors of the General Authority of Civil Aviation, during his visit to the Innovation Center of Airbus, one of the largest civil aircraft manufacturing companies in the world, was briefed on a presentation about the company’s origins and its future plans and projects. And its latest innovations in the field of air transport in order to provide safe and sustainable services to travelers.
His Excellency said: “The successive successes achieved by the UAE aviation sector have strengthened the country’s position as a leading global center in the aviation and travel sector, and a sustainable destination for major companies that manufacture and sell civil aircraft, due to its possession of the most advanced and advanced infrastructure and airports in the region, and trained national cadres.” “The best standards followed in this field, flexible legislation and forward-looking plans will lead this vital sector towards further development.”
During the visit, His Excellency reviewed the aspects of fruitful cooperation and partnership between the civil aviation sector in the UAE and Airbus and the great successes it achieved that supported the plans and objectives of the UAE aviation sector to expand and spread towards new markets, in a way that supports the growth of the national economy and contributes to creating more Jobs chances.
In general, the aviation sector in the UAE recorded record growth in terms of air traffic and the number of passengers through the country’s airports, as the country’s airports received 62.79 million passengers during the first half of 2023, a growth of 46% compared to 43.02 million passengers during the year 2022, and air traffic also increased. During the first half of this year, there were 446,704 flights, compared to 359.9 thousand during the same period of the year 2022, according to data from the General Civil Aviation Authority, while the UAE national carriers flew by the end of the first quarter of 2023 to about 552 destinations around the world, including destinations. Common and shipping destinations, according to official data published by these carriers.
In addition, His Excellency Bin Touq visited the First Abu Dhabi Bank branch in France, and His Excellency was briefed on the bank’s current programs and the pioneering banking services it provides to the French business sector. He also discussed with officials the future plans for expansion in France, and the role of the leading Emirati financial institution in supporting the bonds of economic cooperation. In general and banking in particular between Abu Dhabi and Paris.
