Dubai / WAM
The Second Ministerial Economic and Business Conference (EBC II), a flagship programme of the Indian Ocean Rim Association (IORA), will be held in Dubai from April 11-13 in conjunction with the Annual Investment Meeting (AIM) 2016.
To be held under the theme of ‘SMEs and Innovation: Investing in a Sustainable Future’, EBC II will recognize the prospects of ICTs and innovation-led development planning as contextual drivers capable of fostering long-term growth for small and medium enterprises in the region and globally.
IORA, that has an objective to facilitate trade and investment, promote sustainable economic cooperation and capacity building for the development of the countries bordering the Indian Ocean, said that the UAE will become its chair by 2019.
IORA covers a region that incorporates 21 coastal states bordering the Indian Ocean and is home to about two billion people spanning three continents and boasting a regional GDP of over USD 9 trillion in 2015. The decision to hold Economic and Business Conference II in Dubai was taken as a result of joint efforts by the Ministry of Economy and Ministry of Foreign Affairs and International Cooperation in the UAE.
AIM, which is organised by the UAE Ministry of Economy, will be held under the patronage of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to mainly focus on foreign direct investments in emerging markets.
“The UAE’s overall economic vision stresses on the importance of creating viable success factors and drivers for small and micro-businesses. In the UAE, small businesses play a vital role in rooting the foundations of our economic prosperity. We are finalising a new set of policies aimed to encourage SMEs exponential growth. Along with a sustainable path for micro-enterprises, we are actively supporting entrepreneurship grounded in the highest standards of corporate performance and structured governance,” Sultan bin Saeed Al Mansouri, UAE Minister of Economy, said.
“The theme of the 2nd IORA Ministerial Economic and Business Conference resonates with the main scope and societal objective of our economic strategy. We hope that EBC-II will provide actionable methodologies and comprehensive tools to achieve IORA members their economic development objectives,” Al Mansouri added.