Investment summits and helping start-ups: Sheikh Mohammed bin Rashid launches pro-business moves

Range of initiatives include training residents and attracting skilled workers

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, launched a string of new economic initiatives. All photos courtesy: Dubai Media Office

They aim to make the UAE an even better place to do business.

Some of the measures include boosting family businesses, the establishment of a UAE research institute and the staging of an investment summit.

Sheikh Mohammed said the UAE's work is continually accelerating.

Sheikh Mohammed bin Rashid, UAE Prime Minister and Ruler of Dubai, has launched new initiatives to boost business.

They aim to support family companies, help start-ups and attract even more skilled workers to the UAE.

Also envisaged is a UAE national research institute, while an major investment summit is planned for next year.

The measures came in a meeting attended by Sheikh Mohammed and Cabinet ministers at the Ministry of Economy on Monday.

"Our economic work is continuing, accelerating and moving in the right direction," he said.

The initiatives include:

1) Business accelerators to develop partnerships between family companies and start-ups. This will help entry into new markets for the businesses while enhancing investment opportunities for start-ups.

2) The establishment of an UAE economic research institute to be launched in co-operation between the Ministry of Economy and UAE University, Zayed University, American University of Sharjah and New York University Abu Dhabi. The centre could play a role in informing policies that enhance the national economy.

3) An academy dedicated to training in entrepreneurial skills for citizens and residents of the UAE.

4) A support platform to help small and medium enterprises.

5) It was also announced that an "investment summit" will be held in the UAE in March next year.

More details about the new measures are expected in coming weeks.

Meanwhile, Sheikh Mohammed on Sunday announced the UAE will enter 25 new international markets for foreign trade.

The goal is to boost exports by 50 per cent in the next few years.