Media ININ Economy We Trust
We have read in “Media IN” about the generous support provided by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi to the “Tomorrow 21” program with a budget of 50 billion dirhams to accelerate economic development in the emirate. We talked about that program that will facilitate business for Abu Dhabi residents and create competitive opportunities for global investments to guide its connection to the UAE capital. The program-based committee has allocated 20 billion dirhams from the first 2019 development package to unleash entrepreneurs to start realizing their ambitions. In the first quarter of this year, the Abu Dhabi Chamber of Commerce and Industry sponsored a number of business events in Abu Dhabi that drew our attention and did not break without comparing it to the pace of economic growth.
In mid-February, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) organized an introductory seminar on the Abu Dhabi Chamber Award for Small and Medium Enterprises (SMEs) to highlight the objectives of the award and its role in raising the competitiveness of companies and institutions of small and medium enterprises in the Emirate of Abu Dhabi. The Deputy Director General of the Abu Dhabi Chamber spoke about the award as “part of a series of initiatives within the framework of the Chamber’s vision and objectives aimed at strengthening the role of the private sector to be effective and influential at the local, regional and global levels.” The importance of supporting small and medium-sized enterprises in the belief that the SME sector is one of the most important drivers of economic growth is universally recognized as one of the most important mechanisms to support the productive structure of countries.
In my opinion therefore i would conclude by saying that given the availability of all indicators of economic growth in UAE, such as the topnotch infrastructures especially roads which not only help to transport goods and services from production areas to market centers but also labour from their homes to places of work, presence of ready market for goods and services which gives entrepreneurs assurance of high profits and this is as a result of the increasing population growth rate which in turn is leading to increasing demand for local goods and services, presence of price stability (Economic stability) the dirham has continuously remained stable against other foreign currencies on the world market and this is giving investors confidence to invest in SMEs in the region because it is easy to calculate the costs and losses by the entrepreneurs, needless to mention is the continued political stability in the UAE and this is a driving force towards economic growth as it gives entrepreneurs confidence since they are assured of safety of life and property. IN Economy We Trust.
Yasir Almahri
2019/05/02
