Ministry of Economy and Tourism, Emirates Growth Fund sign MoU to boost SME growth and global market access

Tourism

Ministry of Economy and Tourism, Emirates Growth Fund sign MoU to boost SME growth and global market access

In the presence of the Minister of Economy and Tourism, the Ministry of Economy and Tourism (MoET) has signed a Memorandum of Understanding (MoU) with the Emirates Growth Fund (EGF) aimed at strengthening the role of small and medium-sized enterprises (SMEs) in developing the UAE’s economic clusters and accelerating their access to regional and international markets.

The partnership focuses on empowering SMEs, supporting their sustainable growth, and enhancing their ability to scale through innovation-driven initiatives and advanced accelerator programmes. It is designed to increase the contribution of SMEs to the national economy and reinforce the UAE’s position as a global hub for entrepreneurship.

The signing ceremony was attended by H.E. Abdulla bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the UAE Council for Entrepreneurship, and H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism. The MoU was signed on behalf of the Ministry by H.E. Dr. Maria Hanif Alqassim, Assistant Undersecretary for the Policies and Economic Studies Sector. Representing the Emirates Growth Fund were H.E. Najla Ahmed Al Midfa, Vice Chairperson of EGF’s Board of Directors, and Khalifa Al Hajeri, Chief Executive Officer of EGF, who signed the agreement on behalf of the fund.

H.E. Abdulla bin Touq Al Marri said the UAE continues to strengthen its global standing as a leading destination for entrepreneurship through national initiatives, advanced infrastructure, and the adoption of cutting-edge technologies that support entrepreneurs, innovators, and startup founders.

He noted that, under the guidance of the UAE’s leadership, the country has prioritised the development of economic clusters in key sectors in line with the National Policy for Economic Clusters. He added that strengthening the role of startups and SMEs is central to advancing these clusters and supporting the transition towards a knowledge-based economy.

“The signing of this MoU with the Emirates Growth Fund represents a new step in empowering SMEs and enhancing their ability to expand within new economy sectors,” he said. “This cooperation supports economic diversification, stimulates innovation, improves the efficiency of economic clusters, and strengthens their competitiveness at both regional and global levels.”

H.E. Najla Ahmed Al Midfa, Vice Chair of the Emirates Growth Fund, said the fund addresses one of the most persistent challenges faced by high-potential SMEs: access to growth capital. She explained that EGF combines long-term, patient capital with active value creation to help companies scale sustainably and compete globally.

Khalifa Al Hajeri, CEO of EGF, described the MoU as a milestone in the fund’s mission to unlock the growth potential of SMEs. He said the collaboration will enable EGF to invest growth equity in companies built for long-term success, while supporting them with strategic capital aligned with national economic priorities.

The MoU outlines plans to deliver specialised capacity-building programmes, encourage innovation, and support SMEs in accelerating business growth. It also aims to facilitate access to local and international markets, support expansion strategies, and provide diverse investment and financing opportunities. In addition, the agreement includes provisions for joint initiatives, projects, and the exchange of expertise in investment-related fields to enhance business sustainability across the UAE.

As part of the same event, H.E. Abdulla bin Touq Al Marri also witnessed the signing of a separate MoU between the Emirates Growth Fund and the UAE Food Cluster. The agreement was signed by Khalifa Al Hajeri on behalf of EGF and Saleh Lootah, Chairman of the Board of Directors of the UAE Food Cluster.

This second MoU enables EGF to access companies operating under the UAE Food Cluster and provide them with strategic growth capital. The partnership is expected to support the UAE’s food security objectives, promote economic diversification, and contribute to building a more sustainable and self-sufficient national food ecosystem.