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UAE most attractive for Arab entrepreneurs in MENA: report

Xinhua, May 17, 2017 Adjust font size:

The United Arab Emirates has remained as the region's tech startup hub for the fourth year in a row, which is home to about one-third of all Middle East and North Africa (MENA) investors, UAE state news agency WAM reported.

The Crown Prince of Dubai cited the second edition of the "State of Digital Investment in MENA 2013-2016" report by Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise sector, in partnership with consultancy ArabNet.

Sheikh Hamdan said that the Government of Dubai has accordingly made it a priority to attract investments in line with the UAE Vision 2021 and Dubai Plan 2021 as well as to position the UAE as a preferred global investment destination.

Sheikh Hamdan said "The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to develop an investor-friendly economy and provide data to ensure successful investments whether locally or from around the world, have led to tangible and documented achievements as the UAE maintained its position an investment destination of choice in the region."

He added "The UAE has clear legislative and regulatory frameworks that not only protect the rights and interests of investors, but also enable emerging investors and entrepreneurs to achieve the highest degree of success."

The report covers 150 funding institutions and 760 deals concluded in the region in the last four years. The UAE accounted for 90 percent of the total 900 million U.S. dollars invested in tech start-ups across the region in 2016. Endit