Dubai SME, the agency of the Department of Economic Development in Dubai (DED) mandated to develop the small and medium enterprise (SME) sector, has announced the first-ever 'Dubai SME 100' ranking of companies in a ceremony held at the Dubai World Trade Centre. The companies that made into the first list of top 100 SMEs were honoured by Sheikh Ahmad Bin Saeed Al Maktoum, Chairman of the Economic Sector Committee in Dubai, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates airline and Group, at the ceremony. Speaking at the ceremony, Sami Al Qamzi, Director General of DED, said: "The Government of Dubai has launched various initiatives to promote entrepreneurship and SME development under its SME 5-year plan. This commitment to promote entrepreneurship and SMEs is in the DNA of Dubai, supported and led by our socio-economic stability, openness and visionary leadership. The Dubai SME 100 initiative will serve to inspire our emerging SMEs. It will encourage them to think outside accepted parameters, push their creativity and thus achieve their goals". The SME sector in Dubai is a major driver of the economy, accounting for 95% of the enterprises and 40% of the workforce in Dubai and contributing 42 % of the annual value-add created by the emirate. Many SMEs that originated in Dubai have grown on to become global enterprises. The SME sector, in addition to being a key source of innovations, new products, services, markets and new business models, also supports a whole business ecosystem and all parts of the industry value chain making up the economy of Dubai and the UAE. Source: ameinfo.com
