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Over 338,000 private companies operating in UAE.

More than 338,000 private sector companies have been operating in UAE until the end of Q3 2018, with a combined workforce of 5.26 million, a top official at the Ministry of Economy was quoted as saying state news agency Wam.

"The private sector's contribution to the UAE GDP grew 5 percent to 70.5 percent in 2018 in translation of the government's growing interest in the sector, being a key driver of economic growth," Abdullah Al Saleh, Under-Secretary of Ministry of Economy for Foreign Trade, said in his speech at the First Arab Corporate Citizenship Forum, in Abu Dhabi.

"The UAE is laying a particular focus on the private sector's contribution to the National Innovation Strategy announced in 2015, which is based on accelerating R&D efforts to address key challenges like water scarcity, climate change, waste recycling, renewables, food security, and others, in addition to empowering the sector to play a significant role in AI applications," he added.

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Publication:TradeArabia (Manama, Bahrain)
Geographic Code:7UNIT
Date:Jan 24, 2019
Words:183
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