UAE’s Sustainable Development Goal (SDG): Expanding access for small businesses and other industries
The "Proportion of small scale businesses having a loan or line of credit" is an SDG target used to gauge progress.
The UAE has up until now concentrated on enhancing bank guarantees for commercial SMEs that have access to low credit rates. In particular, the UAE places a strong emphasis on loan support and integration of green SME manufacturing into global value chains. The planned manufacturing strategy and the UAE's green strategy combined to produce this work.
Future initiatives will include a credit programme, loans, and export assurances to facilitate investments in manufacturing facility energy and environmental performance upgrades. The plan would connect current credit and insurance contracts issued in support of new export guarantee instruments rather than relying on the establishment of a brand-new fund. Three specific policies that are expected:
· Small interest loans, redemption hand outs, and loans backed by sizable public and commercial entities are all forms of credit and guarantees.
· Promotion of green exports (Guarantee): Up to 20percent of total of exports should be covered by export guarantee programmes for all UAE-based businesses. Use the network of current funds to your advantage to offer the assurances.
· Green investments include all current investments, both national and international, made in technological firms and funds, such as Masdar's Clean Technology Fund.
Vision 2030
By 2030, promote innovation, significantly increase the number of workers engaged in research and development per million people, and increase both private and public research and development spending. Improve scientific research. Upgrade the technological prowess of industrial sectors worldwide, with a focus on developing nations.
Development and research investment as a percentage of GDP is used to gauge progress towards such a SDG target.
UAE's R&D spending climbed from 0.5 - 0.9% of GDP between 2014 and 2016. By 2018, this number is predicted to rise to 1%.
Enhance scientific research, modernise industrial sectors' technological prowess in all nations, particularly developing nations, and, by 2030, promote innovation and greatly raise the ratio of R&D personnel to every 1 million people as well as public and private R&D spending
The number of researchers (in full-time comparable) per million population is used to gauge progress towards such a SDG target.
The number of academics employed by the UAE today, in both the private and public sectors, has greatly expanded. Future research will put more of an emphasis on the next generation of scientists working on R&D for production. The Confederation of Industries will build a shared platform to focus on relevant R&D initiatives, and public financing will be given to both public and private groups working on those projects.
