Dubai has an entrepreneur-friendly ecosystem

Dubai has handled the Covid-19 crisis particularly well, and recognises that the pandemic has reiterated the critical need for retaining talent, innovating business models, and the importance of the expat community’s contribution towards the economic growth of the city, said Mohamed Karmaoui, general manager of Capital Club Dubai.

Karmaoui noted that the UAE has built up its economy and reputation over the last 50 years, ranking 16th with a score of 80.9/100 on the World Bank’s 2020 Ease of Doing Business Index.

Moreover, he pointed out that there is an active participation to build an entrepreneur friendly ecosystem where startups and SMEs can grow and thrive, with support for many incubators, accelerators, and investments increasing in the country.

In the first half of 2020, FDI worth Dh12 billion was injected into 190 projects and a capital of Dh739 million for startups flowed into Dubai.

Karmaoui also highlighted the role that the Capital Club has played as it evolved over the years. The club is a premier members-only club located in the heart of Dubai International Financial Centre (DIFC), and is a meeting ground for Dubai’s prominent business leaders to network professionally, dine, socialize, and host private meetings.