The UAE, represented by the Ministry of Economy’s National Programme for Small and Medium-Sized Enterprises (SME), signed, with South Korea, represented by the Korea Knowledge Sharing Programme of the Korea Development Institute, a joint cooperation programme to support entrepreneurs and SMEs.

During the 11-month programme, the two sides will discuss their cooperation in entrepreneurship and SME development, and its participants will analyse the business environment in the two countries in terms of policies, incentives, development frameworks and means of financing.

Abdullah Al Saleh, Under-Secretary of the Ministry of Economy, said the UAE is keen to enhance the competitiveness of the business environment and support entrepreneurship, being one of the foundations of the country’s new economic model and a key driver of income diversification.

At the same time, South Korea is a global model of supporting SMEs, and the launch of the programme to promote the joint visions and strategies of the two countries in entrepreneurship and exchange the best-related practices.

The Ministry of Economy recently signed a Memorandum of Understanding (MoU) with the Korea Federation of SMEs in April 2022 to promote cooperation between the two countries in relevant areas.