Dubai – Technology is one of the watchwords for the investors at the panels held by the Annual Investment Meeting (AIM), a conference on foreign direct investment (FDI) in Dubai, United Arab Emirates. To talk about technology as a tool for small enterprises, this Tuesday (9) the forum held the debate “Small and medium enterprise focus: Strengthening SMEs in a digitalized world.”
One of the highlights of the panel was addressed by Qamar Saleem (right at the picture), global lead for small and medium enterprises at the International Finance Corporation (IFC), a World Bank branch for the private sector. For him, one needs to keep an eye at fintechs, startups focused on innovation in financial services. They are the ones making services previously only offered by banks affordable for small enterprises and individuals. “For the last five years, fintechs have grown by 50% per year. Last year, they yielded USD 60 billion, USD 50 billion being only in finances in China,” said Saleem in an interview to ANBA.
For him, fintechs is a way for small and medium enterprises to access the financial market, although using them is easier in large markets such as China and the United States. According to the experts, this problem may become an opportunity, since there is a large market share available for entrepreneurships to create and invest in fintechs. “Brazil is an example. It is a very large country, and the last time I was there I saw many fintechs. And there is still space in this market in the world,” Saleem concluded.
For Dubai Angel Investors chairman Abdullah Mutawi, also at the panel, fintechs already are a topic of interest in the agenda of UAE investors, as are other innovations. “In this region, everyone is interested in technologies. Technologies in areas such as healthcare, mobility, e-commerce. Not just e-commerce companies but technology that fosters this electronic trade. Artificial intelligence is expanding, and so are blockchains and fintechs. So, technology is the real theme,” pointed out Mutawi to ANBA.
Dubai Angel Investors chairman explains that to evoke interest from foreign investors, small companies must create relevance in their own countries. “People invest internationally in businesses relevant to their origin. We have investments in companies that evolve and make a difference as they grow locally,” he explained.
Translated by Guilherme Miranda
