Ministry of SMEs and Startups Signs MOU with UAE... Expecting Activation of Business Exchange and Investment

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups and the United Arab Emirates (UAE) Ministry of Economy have signed a memorandum of understanding (MOU) pledging cooperation in the fields of small and medium-sized enterprises (SMEs) and startups.

On the 15th (local time), the Ministry of SMEs and Startups announced that it signed the MOU on cooperation in SMEs and innovation at the UAE Presidential Palace, coinciding with the bilateral summit between the two countries.

Through this agreement, it is expected that cooperation between the two countries will advance to a new level, including startup exchanges and the activation of investment.

The UAE aims to nurture 8,000 SMEs and startups by 2030 and to establish 20 unicorn companies within the country.

Minister Lee Young of the Ministry of SMEs and Startups stated, "We will focus our capabilities to ensure that our SMEs and startups can seize global growth opportunities in the Middle East region, which is preparing future growth engines based on abundant financial resources."

Meanwhile, on the 14th, the Ministry of SMEs and Startups also signed a business agreement with DMI (Dubai Media Incorporated), the official media channel of the Dubai government, to promote the local entry of Korean content and consumer goods companies.

The agreement was pursued to provide SMEs and startups with new overseas sales channels and marketing means, and the Ministry plans to hold an export consultation meeting in Dubai during the first half of the year.

This content was produced with the assistance of AI translation services.