The UAE has been keen to invest in young people by empowering them in entrepreneurship and small and medium enterprises to drive the economy, in line with consumer needs that play a major role in creating a rising generation dependent on the labour market and the private sector and investing in itself to keep pace with sustainable economic development.
According to the statistics of the Ministry of Economy for 2019, medium and small enterprises represent approximately 94% of the total number of companies in the country, and the number of medium and small companies is approximately 350,000 companies in the UAE, providing job opportunities for more than 86% of the total workforce in the private sector.
They contribute about 60% of the GDP, and the majority of these companies, about 73% of them, work in the trade and retail sector, 16% in the services sector, and about 11% in the industrial sector. Statistics also showed that 45% of these companies are based in Dubai, 32% in Abu Dhabi, 16% in Sharjah, and 7% in separate places in the rest of the Emirates, and that the state aimed to raise the contribution of medium and small enterprises in the GDP to 70%.
From here, we deduce the actual translation of Mohammed bin Zayed’s vision to empower the nation’s youth and harness government support and economic incentives, which enable young people to delve into the economic diversification of the UAE, as statistics in 2018 from the World Bank stated that the UAE ranked second globally in the percentage of youth of the population and this characterizes the wisdom of leaders in the investment of young people.
The question here is, how do I start my investment as a young man? What are the investment opportunities available in the country?
My young brothers, my advice at the outset is the direction of the market analysis that is carried out by the official statistical departments in the country, which clarify the services and local consumer goods and their quality, and then looks at the trade balance. For example, the UAE imports 2,000 tons of commodity A, which means the possibility of producing this commodity in the UAE and investing young people in working on it and exporting the surplus to neighbouring countries. On the other hand, working on developing our products according to the best available technological means while working on marketing the production on social media.
Finally, do not rush profits, as statistics indicate that the results of logical profits come after 18 months of starting and implementing any business project.
