Emirati SMEs win Dh3.3 billion government contracts

More than 23,000 Emirati entrepreneurs have received business consultancy services from Dubai SME since its inception and the agency has also supported the launch of over 4,000 projects. Dubai SME is the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector.

Dubai SME has also been successful in securing nearly Dh3.3 billion worth of contracts to its members under the government procurement programme (GPP) so far. Meanwhile, more than 4,000 enterprises benefited from Dubai SME's incentive packages. The net value of such support has exceeded Dh290 million.

Established in 2002, Dubai SME has enabled a number of Emirati youth to evolve into entrepreneurs and pursue innovations in commercial and industrial projects.

Sami Al Qamzi, director-general Dubai economy  said Dubai SME has enabled young entrepreneurs in the country to progress through local and regional markets to the global stage.

"We are keen to develop young talent in the UAE into a distinguished generation that will position the country in the forefront of the global economy. Our aim is to provide an attractive environment for entrepreneurs to translate their creativity into successful projects that support national economic development. To that end, we develop programmes and policies that can stimulate SMEs to adopt innovative business models and be productive," added Al Qamzi.

Abdul Baset Al Janahi, CEO of Dubai SME, expressed his pride in the agency achieving competitiveness and sustainability as a business facilitator in the government sector. "SMEs form the backbone of the economy in Dubai. The Dubai SME policy is aligned to the focus of the leadership and government in the emirate on building a competitive and diversified economy."

"We have more than 45 service providers as our partners. In addition to enabling our members to win over Dh3.3 billion in government contracts, the Hamdan Innovation Incubator in Dubai SME has supported 515 projects, including financing 50 successful projects."

The Hamdan Innovation Incubator (Hi2) aims to make Dubai the entrepreneurship capital and innovation hub of the region. Hi2 helps entrepreneurs launch projects in diverse sectors and supports them in early stage development.

The Mohammed Bin Rashid Fund (MBRF), the financial arm of Dubai SME, has enhanced financing options for innovative entrepreneurs. The Dh600 million fund has had 56 startups securing more than Dh48 million in startup and growth financing so far.

Dubai Entrepreneurship Academy has also been established under the umbrella of Dubai SME with the primary goal of developing the business skills and leadership of Emirati entrepreneurs. The Academy offers courses accredited by the Knowledge and Human Development Authority to help aspiring and existing entrepreneurs hone their skills in business management and development. Nearly 7,000 trainees have graduated from the Academy so far.

The government procurement programme in Dubai offers SMEs the opportunity to develop their business by supplying the needs of the government of Dubai.

According to Article (12) of Law No (16) of 2016, all entities owned by the government of Dubai, or in which the government of Dubai has ownership of more than 25 per cent, are obliged to exempt Emirati entrepreneurs from any registration fees for being a preferred supplier and also give priority to bids submitted by Dubai SME members if the bid value does not exceed five per cent than the best bid submitted.

Source: Khaleej Times