Dubai – Mubasher: A new study has revealed that small and medium enterprises (SMEs) continue to provide lots of vacancies and add sustainable value to the UAE’s economy, as the number of created jobs increased to 52.4% in 2018 from 42% in 2009.

The report, released by Dubai SME, an agency affiliated to the Department of Economic Development (DED), in cooperation with the Dubai Statistics Centre (DSC), further added that SMEs' contribution to Dubai’s economy jumped to 47% in 2018 from 40% in 2009.

"The study confirms that our efforts over the past years have been fruitful and that the range of initiatives and policies Dubai SME has adopted are today being considered as global best practices by international organisations and institutions including the World Bank, United Nations, and the Organisation for Economic Co-operation and Development," Abdul Baset Al Janahi, CEO of Dubai SME, said.

Younger start-ups represented around 50% of the companies registered in Dubai, which validates the emirate’s appeal as a global centre for entrepreneurship, knowledge transfer and innovation, the study, which was initiated for the first time in the first quarter of 2018, showed. 

“SMEs in Dubai have demonstrated their ability to withstand regional as well as global instabilities and continue to march with confidence,” Sami Al Qamzi, director-general of the DED, commented.

Dubai SME is a part of Dubai SME Development Plan (SMDP), which is part of Dubai Plan 2021.