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- Bahrain All Share Index closes higher
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22/09/2025 01:44 AST
The UAE has set its sights on reaching two million companies and nurturing 10 unicorns by 2031, in a bold push to cement its position as the world's capital of entrepreneurship.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the launch of a nationwide campaign designed to reinforce the country's global leadership in fostering entrepreneurial ventures.
Abdullah bin Touq Al Marri, Minister of Economy and Tourism, emphasised the pivotal role of entrepreneurs and startups in driving economic growth, outlining plans to expand the number of registered companies in the UAE to more than two million within the next six years.
Speaking on the sidelines of a press conference announcing the national campaign "World's capital of entrepreneurs", bin Touq said the country also aims to see 10 unicorns emerge during the same period. So far, five billion-dollar companies have been launched from the UAE.
He noted that the campaign will support these national ambitions by fostering an enabling ecosystem that empowers young people to launch ventures, scale their businesses, and expand internationally.
Highlighting the UAE's readiness, bin Touq referred to comprehensive strategies spanning economic clusters, food security, and trade liberalisation through Comprehensive Economic Partnership Agreements (CEPAs), as well as national strategies for innovation and intellectual property protection. He stressed that the UAE's infrastructure at both federal and local levels is primed to accelerate startup growth.
Currently, the UAE is home to more than 1.2 million companies, of which around one million-roughly 94 per cent-are owned by entrepreneurs. Small and medium-sized enterprises (SMEs) alone accounted for 63.5 per cent of non-oil GDP by mid-2022 and represent 95 per cent of all companies operating in the country.
Gulfnews
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22/09/2025
The real estate price index in Oman surged by 10.8% year-on-year in the second quarter of 2025, compared with the same period in 2024.
Data released by the National Centre for Statistics and
Muscat Daily
22/09/2025
Oman Investment Bank has completed the successful debut bond issuance for Sindbad Overseas Group, marking an important milestone in broadening Oman's capital markets.
The transaction raised
Trade Arabia
22/09/2025
Diyar Al Muharraq, Bahrain's largest real estate development company, recently collaborated with the University of Bahrain (UOB) to organise the Real-World Urban Design Challenge.
The init
Trade Arabia
22/09/2025
Saudi Arabia's non-oil trade surplus with the Gulf Cooperation Council (GCC) countries recorded an annual growth of 119% in the second quarter (Q2) of 2025, reaching around SAR11.9 billion ($3.17 bil
Trade Arabia
22/09/2025
Farabi Petrochemicals Company today inaugurated its fourth integrated Linear Alkyl Benzene (LAB) plant in Saudi Arabia, reinforcing its position as the world's largest integrated LAB producer.
Trade Arabia
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