The smart business management tool provides comprehensive data on vital sectors & markets to help aspiring entrepreneurs
Abu Dhabi, 7 October 2019: The Ministry of Economy launched its ‘Business Map (BMap)' platform in the presence of H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, during its participation at GITEX Technology Week 2019. The solution, developed by the Department of Strategy and Future, is a smart business management tool that provides comprehensive data on vital sectors and markets that help investors and entrepreneurs establish or expand a business.
During his visit to the exhibition, the Minister of Economy reviewed a number of services and applications that are being showcased by the Ministry at its GITEX stand this year, in the presence of H.E Eng. Mohammed bin Abdul Aziz Al Shehhi, Undersecretary of Economic Affairs in the Ministry of Economy; and H.E. Juma Mohammed Al Kait, Assistant Undersecretary of the Ministry of Economy for Foreign Trade Affairs. The most notable among these is the MoE Dashboard application, which displays smart reports about the services provided by the Ministry to customers.
He also reviewed the official website of the National Program for Small and Medium Enterprises (SMEs) of the Ministry of Economy, the registration procedures in its databases, and the information and services it provides to entrepreneurs to enhance their ability to further develop their businesses.
H.E Al Mansoori said that GITEX Technology Week, today, has become one of the most reputable platforms in the world to showcase technological developments and applications, adding that the Ministry of Economy has always remained keen to launch and review new smart initiatives, applications and services to support the country's business sector and its various economic fields. These efforts fall in line with the directives of the wise leadership to adopt smart government services in a large scale, thereby supporting the nation's transformation into a knowledge economy with global competitiveness, he added.
Business Map: A platform to start new businesses
‘BMap' assists small and medium businesses and new industries wanting to start new ventures through the use of deep learning technologies, by showing the user the most suitable areas for the launch of the new business.
The platform provides future forecasts of revenue, profits and industry growth by analyzing old and current data, which enables business owners to get an overview before starting operations. This analysis considers many factors such as GDP growth, industry growth and population, among many others. The platform also provides a unique business intelligence algorithm to deliver ideas and business plans to the right investors and people, enabling them to find suitable partners.