‘Take ‘Made in UAE’ global’

The Pak Banker - - 6BUSINESS -

Small and medium sized en­ter­prises (SMEs) which have been born and brought up in the UAE can and should be taken in­ter­na­tional, said Ni­raj Masand, co-founder and di­rec­tor of banke In­ter­na­tional, at the 2016 SME World sum­mit in Dubai.

"I per­son­ally think we should en­cour­age a plat­form whereby we sell the UAE brand glob­ally. We need to take our made in UAE brand prod­ucts and ser­vices and trade them in­ter­na­tion­ally. We should take our home grown brands to in­ter­na­tional mar­kets, and I en­cour­age all our SMEs to start with the re­gion it­self. The pop­u­la­tion in the UAE is close to 10 mil­lion, but if you look at the neigh­bour­ing coun­tries, they can give a big boost to the UAE SMEs that reach out to th­ese mar­kets," Masand said.

Speak­ing in a panel dis­cus­sion on Dubai's Eco­nomic Blue­print for 2021, Masand also high­lighted how di­ver­si­fi­ca­tion is im­por­tant in the SME in­dus­try in the re­gion.

He ex­plained that for an SME owner to­day, ex­pand­ing their core busi­nesses is a must if they are to re­tain a com­pet­i­tive ad­van­tage. Sim­i­larly, Farah As­lam, man­ag­ing di­rec­tor of Di­mara In­ter­na­tional, also spoke about the im­por­tance of in­no­va­tion and how SMEs that fo­cus on in­no­va­tion have and edge in the mar­ket. SMEs in the UAE to­day al­ready con­trib­ute over 60 per cent of the coun­try's non-oil GDP, and are likely to con­trib­ute as much as 70 per cent by 2021.

Speak­ing on the cur­rent eco­nomic en­vi­ron­ment in the re­gion, Hans Hen­rik Chris­tensen, di­rec­tor of the Dubai Tech­nol­ogy En­tre­pre­neur Cen­tre at the Dubai Sil­i­con Oa­sis Au­thor­ity, noted that the SME sec­tor in the re­gion would re­main mainly un­af­fected by the neg­a­tive con­di­tions. "Ob­vi­ously, there are a lot of star­tups that are strug­gling to find cus­tomers for their prod­ucts right now, but we are just scratch­ing the sur­face in terms of what mar­ket can take.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.