As per the Global Entrepreneurship Index (GEI) 2020, the UAE has been positioned as the first amongst the Middle Eastern territory and in global case, been stand out in the fourth position.
As per the Index, shaped from the Global Entrepreneurship Monitor, the UAE stimulated up a place ahead from the preceding year as well as outdid many core global economies like United States, The United Kingdom, Canada, Australia, China, Japan as well as South Korea.
The UAE also was hugely positioned much better than their counterparts on its entrepreneurial infrastructure as well as the R&D. The UAE also has accomplished much better rankings in majority of the sub-indicators being ranked second on the list on how the nation countered the COVID-19 Pandemic as well as its impression within the entrepreneurial arena.
The UAE’s Minister of Economy, Abdulla Bin Touq Al Marri, stated further that the accomplishment is a huge point of “superior pride”, as well as that “depicts the triumph for the nation’s efforts made over the past decade to develop the country’s entrepreneurship sector.”
He further stated that: “Today, the UAE has a world-leading experience in supporting and organizing the entrepreneurship sector, in building an integrated system to support and incubate entrepreneurial projects, accelerate their growth, and developing initiatives and programs that make it a growth engine and a major contributor to our non-oil GDP.
Minister of State for Entrepreneurship and SMEs, Dr Ahmad Belhoul Al Falasi, stated the ministry is evolving a cohesive strategy to inspire entrepreneurship “to create an environment capable of providing comprehensive and sustainable support for entrepreneurs in the country.”
Indonesia was graded first in the global index, surveyed by the Netherlands and Taiwan. He further added: “The economic challenges created by the Covid-19 pandemic in 2020 have affected the entrepreneurial sector negatively in most countries of the world and have led to the decline of most of the world economies. The progress made by countries on this indicator during the pandemic is a multiplier and reflects the unparalleled efforts made by the UAE to ensure support for this sector.”