Mastercard has joined forces with IFZA , one of the fastest-growing free zones in the UAE, and Global Tax Assistant , an international consulting firm, to launch a fully digital, AI-driven business registration journey in the UAE. The collaboration aims to accelerate the growth of the country's small- and medium-sized enterprises SMEs and pave the way for their expansion across the Eastern Europe, Middle East and Africa EEMEA markets.
SMEs account for over 94 of all businesses in the UAE and contribute to more than 50 of its GDP. The National Agenda for Entrepreneurship and SMEs seeks to establish the UAE as an entrepreneurial nation, and one of the top three countries in the Global Entrepreneurship Index by 2031. The collaboration marks one of the first digital AI-powered business registration pilots in the region, reflecting a unique public-private sector collaboration focused on SME enablement through advanced technology.
"The thriving SME economy forms the beating heart of the UAE's diverse business landscape. At IFZA, we believe SMEs are the prototype of tomorrow's global companies, driving innovation, job creation, exports and new business models. We work together with our partners to equip the country's small business community with the tools and resources they need to succeed. We are confident our latest joint initiative will boost the UAE's global competitiveness as a business hub with progressive infrastructure."
- Jochen Knecht, CEO, IFZA