GEM Report 2007 Ranks UAE Higher for Promoting Enabling Environment for Start-up Businesses

The UAE has achieved remarkable progress in promoting an enabling environment for start-up businesses and entrepreneurial activities, ranking 25th among 42 countries, up from 41st position last year, according to the UAE-Global Entrepreneurship Monitor (GEM) 2007 Report that was released in Dubai today.

The UAE is  rated first as well among 42 countries for hosting start-ups that have 25 per cent to 75 per cent of customers from overseas markets (export or re-export). The country has also moved up from 29th to 17th position out of 42 countries in the number of start-ups businesses that took off in 2007, underlining a robust business and development activity through last year.

The UAE-GEM Report 2007 was sponsored by the Mohammed Bin Rashid Establishment for Young Business Leaders for the second consecutive year.

Akil Kazim, Director - Operations, Mohammed Bin Rashid Establishment for Young Business Leaders, said: “We are glad to introduce the GEM Report UAE 2007 as a valuable informative reference to all stakeholder concerned with entrepreneurship in our country. This year’s edition of the UAE-GEM Report is a comprehensive study that presents incisive information on the entrepreneurship landscape of the UAE.

“Through identifying key drivers and challenges facing small and medium enterprises (SMEs), the report provides clear guidelines for policy makers and key stakeholders on the necessary steps for enhancing innovation and entrepreneurship across the country.”

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