Abu Dhabi - Sharikat Mubasher: The UAE’s Ministry of Economy and Tourism (MoET) signed a memorandum of understanding (MoU) with the Emirates Growth Fund (EGF) to support the sustainable growth of small and medium-sized enterprises (SMEs) and accelerate their access to regional and international markets.

The MoU focuses on empowering SMEs, fostering innovation, and launching advanced accelerator programs that enhance their capacity to scale and expand, according to a recent official statement.

Both parties will join hands to increase SMEs’ active contribution to the national economy and reinforce the UAE’s position as a leading global destination for entrepreneurship.

The agreement was signed on behalf of the Ministry by Maria Alqassim, Assistant Undersecretary for the Policies and Economic Studies sector, while Najla Al Midfa, Vice Chairperson of EGF’s Board of Directors, was representing the EGF, and Khalifa Al Hajeri, Chief Executive Officer of EGF, signed the MoU on behalf of EGF.

Abdulla bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the UAE Council for Entrepreneurship, stated that the signing of the MoU with the Emirates Growth Fund represents a new step in empowering SMEs and enhancing their capacity to expand in new economy sectors. “This cooperation contributes to advancing economic diversification efforts, stimulating innovation, improving the efficiency of economic clusters, and strengthening their competitiveness at both regional and global levels,” he said.

In turn, Al Midfa affirmed that the partnership with MoET strengthens the EGF’s ability to help SMEs scale sustainably, compete globally, and build institutions that contribute enduring value to a diversified and competitive UAE economy.

The MoU focuses on providing diverse investment and financing opportunities for these companies. It aims to provide specialized capacity-building programs for SMEs, encourage them to innovate and accelerate their business growth, and facilitate access to local and international markets, as well as support their expansion plans.