Posted by Neil King
An agreement has been signed aimed at forging closer ties between small and medium-sized enterprises (SME) in Dubai and their counterparts in Malaysia.
According to the Bernama news agency, the Malaysia Business Council-UAE and the Mohammed Bin Rashid Establishment (MBRE) for SME Development have agreed terms for a memorandum of understanding (MoU).
The bodies claimed that the MoU would add further impetus to enhancing trade and economic activities between Malaysia and the UAE and particularly Dubai.
Meanwhile, MBRE chief executive officer Abdul Baset Al Janahi commented that his organisation is committed to helping UAE nationals set up their own businesses.
Noting that SMEs currently account for up to 98.5 per cent of Dubai's companies and 61 per cent of the total workforce, he said: "Many people only see the so-called 'big boys'. But we have so many SMEs here who may one day become big boys themselves."
Earlier this week, it was revealed that Dubai has witnessed a 15 per cent rise in hotel occupancy rates during its Summer Surprises (DSS) shopping and tourism festival, which ends tomorrow (August 7th).