At roundtable meeting attended by 26 representatives from the Emirati and Japanese business communities

H.E Alia Al Mazrouei highlights UAE market opportunities and enablers for innovative and entrepreneurial projects to Japanese business community

>> H.E. Alia Al Mazrouei: The UAE has succeeded in creating a competitive environment for entrepreneurial activities, and we are keen to engage and facilitate partnerships with the business community in Japan.

• Inviting the Japanese business community to take advantage of the competitive environment and incentives provided by the UAE, which offers ideal conditions for success for investors, entrepreneurs, and innovators.
• Japanese companies are looking to expand their operations in the UAE, particularly in the sectors of circular economy, sustainability, recycling, technology, AI, and virtual reality technologies.

Her Excellency Alia bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship, affirmed that the UAE, under the visionary guidance of its wise leadership, has successfully created a competitive environment for entrepreneurial activities and SMEs, emerging as a leading global destination for launching and establishing innovative projects in the new economy, advanced technology, and advanced industries.

This was underscored by the minister during a roundtable titled ‘Prospects for Cooperation between the UAE and Japan in Entrepreneurship and Innovation,’ held on the sidelines of the ‘Investopia-Tokyo.’ The event was attended by His Excellency Shihab Ahmed Al Faheem, UAE Ambassador to Japan, and representatives from 26 Emirati and Japanese companies and business incubators.

H.E. Alia Al Mazrouei briefed the Japanese business community about the UAE’s thriving business ecosystem, characterised by its flexible and competitive regulations, investor-friendly policies that facilitate the establishment of businesses and diverse economic activities, and initiatives tailored to support start-ups and SMEs. “We recently launched the ‘Reyada’ to develop and stimulate entrepreneurship in the country. This comprehensive program is designed to enhance the UAE's competitiveness in entrepreneurship across various aspects. These include the development of policies and legislation, infrastructure improvements, support for the ease of establishing businesses and the growth of SMEs, providing incentives to drive the growth of these enterprises, and fostering partnerships that bolster entrepreneurship, as well as activities in research, development, and innovation within the sector,” H.E. added.

The Minister of State for Entrepreneurship explained that the UAE has adopted several legislative policies aimed at providing incentives to companies wishing to establish and commence their operations in the UAE markets. “Among the most significant of these was the amendment to the Commercial Companies Law, which permits foreign investors to set up and fully own companies. This change has led to an increase in the number of companies operating in the UAE, complemented by long-term residency programs for investors and innovators. Additionally, over 40 free zones across the country enable foreign investors to participate in more than 2,000 diverse economic activities,” H.E. said.

H.E. Alia Al Mazrouei also pointed out that the UAE has launched a series of national strategies aimed at achieving leadership and progress in the technological and sustainability sectors. The most notable of these is the ‘UAE Strategy for Artificial Intelligence,’ which seeks to foster investment in AI across various key economic sectors. Additionally, the ‘National Strategy for Industry and Advanced Technology’ serves as a leading framework for developing and enhancing the industrial sector in the UAE. Meanwhile, the ‘UAE Green Agenda 2030’ provides a long-term plan to achieve sustainable development goals and support innovative ideas in waste recycling and unused materials, essential components of the country’s knowledge and innovation-driven economy.

H.E. invited the Japanese business community to capitalise the competitive environment and opportunities the UAE offers, which offers ideal conditions for success for investors, entrepreneurs, and innovators. H.E. Alia Al Mazrouei noted that the UAE hosts over 1.5 million business licenses, and highlighted that the UAE ranks first globally in establishing new business ventures, according to the Global Entrepreneurship Monitor 2024 report.

The roundtable meeting provided an important opportunity for the Japanese business community to explore investment and expansion opportunities in the Emirati markets. Entrepreneurs and Japanese companies expressed strong interest in expanding their operations in the UAE, particularly in the sectors of circular economy, sustainability, recycling, technology, artificial intelligence, virtual reality, and advanced industries. The event also aimed to enhance communication and cooperation between the two countries in entrepreneurship and innovation, focusing on supporting startups and creating tangible collaboration opportunities through the exchange of insights and best practices. Additionally, it sought to develop strategic frameworks that support sustainable growth and reinforce their status as leading countries in the field of technology.

The roundtable meeting acted as a platform for dialogue, communication, and the exploration of quality investment opportunities between the two countries, combining the dynamic entrepreneurial environment for investment in the UAE with Japan’s technological excellence, to establish new frameworks for cooperation between the business communities of both countries.