Department Of Economic Development

In the context of Dubai government's keenness to support and develop small and medium enterprises, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, issued a law regarding the Mohammed bin Rashid Foundation for the Development of Small and Medium Enterprises - one of the Dubai economic institutions - in September of The year 2009. The law includes restructuring the "Mohammed bin Rashid Foundation for the Development of Small and Medium Enterprises" established under Decree No. (15) of 2002, and the restructuring consists in modifying the name, functions and responsibilities of the institution to become "Mohammed bin Rashid Foundation for the Development of Small and Medium Enterprises", and to work to create the environment Supporting the establishment and development of small and medium enterprises, as these enterprises represent 95% of the total registered businesses in Dubai and employ 40% of the emirate's workforce. The law also aims to strengthen the emirate's position as a center for entrepreneurship, and to establish projects based on innovation and intellectual property.