Ministry of Economy, SEDD meet to boost UAE competitiveness

UAE - Top officials from UAE economic ministries and the Sharjah Economic Development Department (SEDD) met to discuss economic developments in the UAE, as well as future collaborative efforts to further improve the country's business environment.

Abdulla bin Touq Al Mari, Minister of Economy; Dr Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs; and Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, met SEDD chairman Sultan bin Hadda Al Suwaidi as part of the ministers' visit to the SEDD headquarters as part of their series of meetings with several major government entities to strengthen their cooperation and enhance support for the national economy.

Both parties tackled possible joint efforts to raise the UAE's global competitiveness in terms of promoting entrepreneurship supported by a dynamic regulatory environment; ensuring ease of doing business; and attracting investments to various economic sectors.

They also discussed cooperation in implementing the 33 flexible package of initiatives to support economic sectors, along with a discussion pressing economic challenges brought about by the Covid-19 pandemic.

Al Mari emphasised on the importance of these meetings and their role in developing communication channels with various strategic partners and in the development of cooperation at the federal and local levels.

"Currently, we are spreading awareness about the 33 initiatives aimed at bringing various economic sectors to the next level. We are keen on starting fruitful dialogues with all concerned parties to listen to their suggestions and ideas in addition to working closely with them to develop a business environment that we aspire. The outcomes of the national economic development plan and related initiatives will provide the necessary support to enhance the UAE's competitiveness," he said.

Dr Al Falasi added: "Supporting small and medium enterprises is one of the priority areas of the 33-initiative plan along with the creation of an environment that is conducive for the empowerment of entrepreneurs and is capable of supporting their success and growth. Further, we seek to enhance the entrepreneurs' ability to overcome challenges brought about by the Covid-19 pandemic, as well as encourage them to adopt a sustainable business model characterised by technological innovations and digitisation. Without a doubt, Sharjah is an important destination for SMEs. We look forward to fostering a stronger partnership with the SEDD to achieve growth and development of the vital SME sector."

Dr Al Zeyoudi said: "By introducing the 33-initiative plan, we aim to enhance our partnerships with stakeholders, further develop the economic sectors, support the private sector, and create solutions to existing and potential challenges. The role of the private sector is essential to building a competitive economy. Sharjah has an excellent business environment that continues to attract investments to its key sectors, particularly healthcare, environmental development, transport, logistics and tourism."

Al Suwaidi said the SEDD is committed to fostering a fruitful partnership with the Ministry of Economy to achieve better integration within the government sector, keep pace with the latest local economic developments and fast-track national development.

"By doing so, we will take into consideration the current economic changes that require enhanced collaboration among stakeholders and increased reliance on advanced communication system and digitised infrastructure. Further, we will also ensure the highest levels of efficiency to create a more sustainable business environment in Sharjah and the UAE."