SMEs Power 42.8% of Abu Dhabi’s Non-Oil Economy: Khalifa Fund

UAE, 19 November, 2024 : Moza Obaid Al Nasri, Acting CEO of the Khalifa Fund, announced that small and medium enterprises (SMEs) account for over 90% of Abu Dhabi's businesses, employ nearly half of the workforce, and contribute 42.8% to the emirate’s non-oil GDP.  

She highlighted Abu Dhabi’s thriving startup ecosystem, which has grown in value by 28%, supported by the "Falcon Economy" strategy targeting high-growth sectors and fostering innovation through regulatory and financial initiatives.  

Speaking ahead of Abu Dhabi Business Week, Al Nasri reaffirmed the emirate's commitment to empowering SMEs with resources, networking opportunities, and funding. The event will include the Khalifa Fund Entrepreneurship Competition, offering startups a platform to pitch their ideas to investors.  

Source : www.wam.ae