According to Amac News, the country said the competitive environment it offers will attract talent and accelerate the growth of non-oil industries such as technology, finance and renewable energy.
The measures the UAE has taken to encourage foreign investment, including full ownership in many sectors, tax incentives and specialized free zones, have made the country a global hub for startups.
Government initiatives such as the “Operation 300 Billion” and startup accelerators such as Hub71 are further enhancing the country’s appeal.
The Sheikh Khalifa Excellence Award has also been launched in this regard, which strengthens quality standards and competitiveness in the business sector. The award is given to companies that demonstrate superior performance and significant innovation.
The entrepreneurs who recently received the award said that the support provided to startups by the UAE allows companies to expand regionally and globally.
Mohammed Salman, CEO of Union Copper Rod, pointed to the growth of the manufacturing sector in the UAE, which is driven by export policies and industrial laws.
Salman stressed that the plant produces 200,000 tons of copper annually, with 90 percent of its production exported, significantly contributing to the national economy and strengthening Abu Dhabi’s industrial position.
Meanwhile, Deniz Tekrek, co-founder and commercial director of Archireef, said that receiving the Sheikh Khalifa Excellence Award is a significant milestone for the company, which is dedicated to restoring marine ecosystems and navigation in support of the UAE’s environmental goals.
He emphasized the need for companies to be more specialized in environmental protection and to work closer with various organizations to achieve the country's sustainability goals.