Dubai – Sharikat Mubasher: Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, announced the launch of the ‘Emirates Growth Fund’ during the opening of the "Make it in the Emirates" exhibition.
The AED 1 billion fund, established under the Emirates Development Bank, aims to empower small and medium-sized enterprises (SMEs) across key sectors including manufacturing, healthcare, food security, and advanced technology. It will provide long-term capital and strategic support to enable sustainable growth and effective expansion.
Al Jaber highlighted the provision of competitive financing solutions exceeding AED 40 billion over the next five years. These will be offered through national banks such as Emirates Development Bank, First Abu Dhabi Bank, Mashreq Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and Wio Bank.
He emphasized that the UAE has successfully laid strong foundations for an efficient industrial sector that contributes to economic diversification. He noted the country’s resilience and ability to adapt to change. He also stressed that the UAE views artificial intelligence not merely as a tool or new technology, but as a comprehensive economic sector projected to generate over USD 1.5 trillion in global revenues by 2040.
