UAE aims for 2M companies and 10 unicorns by 2031

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The United Arab Emirates has announced a bold vision for the future of its economy, putting startups and entrepreneurs at the heart of its growth journey. The country is planning to raise the number of registered companies to more than two million by the year 2031. Alongside this target, the UAE also wants to see at least 10 unicorns — companies valued at over one billion dollars — emerge from its business ecosystem within the same period. So far, around five unicorns have already been created from the UAE.

Officials highlighted this ambitious plan while unveiling a new national campaign under the theme “The Emirates: The Startup Capital of the World.” This campaign is designed to strengthen the UAE’s position as a global hub for entrepreneurship and innovation. It will create a supportive environment where young people can start businesses, grow them, and eventually expand internationally.

The UAE’s government explained that its strategies cover multiple areas that directly benefit new businesses. These include economic clusters, food security initiatives, and Comprehensive Economic Partnership Agreements (CEPAs) that link the UAE to global trade partners. In addition, there are strong frameworks for innovation, research, and intellectual property protection. This means that anyone launching a business in the UAE can rely on both federal and local infrastructure that is ready to help companies grow and succeed.

As of now, the UAE is already home to more than 1.2 million companies. Out of these, around one million are run by entrepreneurs, which makes up about 94% of the total. This clearly shows how entrepreneurs are shaping the backbone of the nation’s economy.

Small and medium-sized enterprises (SMEs) also have a very powerful role. By the middle of 2022, SMEs were responsible for 63.5% of the UAE’s non-oil GDP, proving that the private sector, beyond oil, has become a strong engine of growth. Moreover, SMEs represent around 95% of all businesses currently operating in the UAE market.

The UAE believes that encouraging more startups will not only support the national economy but also create new opportunities for youth, enhance global competitiveness, and strengthen its reputation as a business-friendly nation. The vision reflects the country’s long-term approach of diversifying beyond oil, investing in innovation, and opening doors for talent from around the world.

By 2031, if these targets are achieved, the UAE will not only be home to millions of companies but will also establish itself as one of the most attractive destinations for entrepreneurship worldwide. The campaign aims to build confidence among investors, inspire ambitious founders, and make the UAE a preferred home for the businesses of tomorrow.

This is a clear signal to the global business community that the UAE is serious about creating opportunities, empowering young minds, and supporting the growth of innovative companies across different industries. From technology to food security, from trade to cultural creativity, the nation’s leaders are making sure the economy stays open, diverse, and strong for decades to come.

UAE economy, UAE startups, UAE entrepreneurs