UAE Minister of Economy Sultan Bin Saeed Al Mansoori has said that small and medium enterprises (SMEs) “are the cornerstone of any economy, given their huge contribution to the Gross Domestic Product (GDP) as well as employment generation. Hence, it is important to have extensive discussions on SMEs being an incubator for creativity and innovation.”

His comment came ahead of the discussion at the Annual Investment Meeting (AIM) 2015, slated for March 30 to April 1 at the Dubai International Convention and Exhibition Centre (DICEC). The event will be organised by the Ministry of the Economy under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai.

“AIM 2015 will bring experts and officials from over 140 countries to discuss major topics related to Foreign Direct Investment (FDI), mainly in SME sector”, a ministry statement highlighted.

“SMEs have become a springboard for creativity and innovation, given their economic value addition. Many of the SMEs have grown rapidly attracting a variety of investments, as well as funds and governmental support through bodies like Khalifa Fund for Enterprise Development (KFED) and Mohammed bin Rashid Establishment for SME Development,” Al Mansoori highlighted, adding that SMEs are essential for accelerating innovation.