Support Hub for Small and Medium Ventures Entering the Middle East, Dubai Support Consortium Meeting Held

Minister Oh Young-joo's First Visit to the Middle East
Attends Dubai SME Support Council Meeting

The Ministry of SMEs and Startups has begun exploring support measures for the entry of our small and medium-sized enterprises (SMEs) and startups into the Middle East.

The Ministry announced on the 4th that Minister Oh Young-joo attended 'BIBAN2024,' the largest annual SME and startup festival in the Middle East, held by the Saudi Arabian Small and Medium Enterprises Authority.

As her first schedule in Dubai, Minister Oh visited the Dubai GBC, encouraged companies entering the United Arab Emirates (UAE), and checked the status of SME entries into Dubai and support for these companies.

Dubai GBC was established in 2006 to support SMEs entering Dubai, one of the major trade hubs in the Middle East. Located in the UAE's largest free economic zone, it houses 18 companies. It provides office space and supports local market entry through product localization (certification, product improvement, etc.).

Following her visit to Dubai GBC, Minister Oh attended a meeting of the ‘Dubai SME and Startup Overseas Diplomatic Mission Support Council,’ reviewing the council’s operations so far and exploring support measures to help our companies smoothly demonstrate their capabilities locally in Dubai.

The SME and Startup Overseas Diplomatic Mission Council was established based on a memorandum of understanding signed by the Ministry of SMEs and Startups and the Ministry of Foreign Affairs in April. It is installed and operated at overseas diplomatic missions in 25 regions where our companies are actively expanding overseas, to secure overseas bases and resolve local difficulties.

The Consulate General in Dubai has been communicating regularly with local companies and institutions since its first meeting in May, resolving 10 difficulties and providing 44 pieces of information, supporting not only problem-solving for companies entering Dubai but also local networking.

This meeting was organized as a communication platform where companies and institutions that have settled in Dubai could share their achievements and know-how accumulated so far and request continuous government support and attention, taking advantage of Minister Oh’s visit.

Companies attending the meeting expressed gratitude for being able to settle more smoothly locally through SME-dedicated support bases such as the Overseas Diplomatic Mission One-Team Council and Dubai GBC, while also suggesting the need for additional support such as establishing cooperation channels with local institutions and strengthening information provision.

Minister Oh said, “The UAE is an important foothold and our largest trading partner for the entry of our SMEs and startups into the Middle East. Since the Dubai Overseas Diplomatic Mission Council plays the most crucial role in supporting local companies, I hope it will continue to pay great attention and effort to resolving companies’ difficulties.” She added, “I also encourage businesspeople residing locally to actively utilize the council whenever they encounter difficulties in their business activities.”

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