The UAE has achieved the remarkable feat of being ranked first globally in entrepreneurship for the fourth consecutive year, according to the latest Global Entrepreneurship Monitor (GEM) report. This year, the country topped the list as the best destination for entrepreneurship and small and medium-sized enterprises (SMEs) among 56 economies evaluated.

In this report, the UAE excelled in 11 out of 13 critical indicators, including areas such as entrepreneurial finance, government policies, education, and the ease of market entry. The findings emphasize the UAE’s favorable business environment, bolstered by government initiatives and a competitive investment climate, which have played a significant role in its success.

Alia bint Abdullah Al Mazrouei, the Minister of State for Entrepreneurship, attributed this achievement to the UAE’s forward-thinking vision and leadership. She noted that the country has built an integrated ecosystem designed to support entrepreneurship and SMEs. The Minister highlighted that the UAE’s commitment to fostering a dynamic and supportive environment is essential for its status as a global startup hub.

Additionally, the report revealed that the UAE has invested $8.7 billion to enhance innovation and the growth of SMEs as part of its ‘Projects of the 50’ initiative. The allowance of 100 percent foreign ownership of companies further underscores the UAE’s dedication to creating a robust entrepreneurial landscape.

The UAE also secured the top position in GEM’s National Entrepreneurship Context Index, which evaluates each country’s supportive environment for entrepreneurship using scores derived from assessments by national experts. This aligns with the UAE’s vision to achieve one million SMEs by the year 2031.