The UAE has been ranked first globally for the fourth consecutive year in the latest Global Entrepreneurship Monitor (GEM) report.
The country also topped the list as the best place for entrepreneurship and small and medium-sized enterprises among 56 economies assessed this year.
The UAE excelled in 11 out of 13 key indicators, including entrepreneurial finance, government policies, education, and ease of market entry.
The report highlights the UAE’s business-friendly policies, government initiatives and competitive investment climate, which have contributed to its success.
Alia bint Abdullah Al Mazrouei, Minister of State for Entrepreneurship, credited this achievement to the UAE’s forward-thinking vision and leadership, building an integrated ecosystem for entrepreneurship and SMEs.
She emphasised that the country’s commitment to a dynamic and supportive environment is key to its standing as a global startup hub.
The report pointed out the UAE’s investment of $8.7 billion to boost innovation and the growth of SMEs as part of the 'Projects of the 50' initiative, as well as the allowance of 100 per cent foreign ownership of companies.
The UAE also ranked first in the GEM’s National Entrepreneurship Context Index, which assesses each country's supportive environment for entrepreneurship based on scores derived from national experts’ evaluations.
This supports the UAE’s vision to reach one million SMEs by 2031.
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