Members of Dubai SME won contracts worth Dh17 million during the first half of 2016 under a partnership with Dubai Holding. The Dubai SME is the agency of the Department of Economic Development mandated to develop the small and medium enterprise (SME) sector.
The beneficiaries include 46 Emirati enterprises. Service providers accounted for 48.7 per cent of the beneficiaries and won contracts worth Dh8.5 million while food companies won contracts worth over Dh1 million.
Companies from public services, advertising, interior design, stationery, logistics, consultancy and training accounted for 44.9 per cent of the beneficiaries, which together won contracts worth Dh7.8 million.
Abdul Baset Al Janahi, CEO of Dubai SME, said: “The results achieved prove our commitment to supporting SMEs in Dubai and enabling them to be productive and sustainable. Initiatives in Dubai have opened up vast opportunities for national entrepreneurs to demonstrate their competencies in the local market as well as globally.”
Al Janahi added: “Dubai Holding offers 20 per cent discount on industrial land, workers’ housing, commercial and industrial warehouse, offices, galleries and shops for five years. We are looking at strengthening the partnership to cover more areas and offer added benefits to Dubai SME members.”
Fadel Al Ali, CEO of Dubai Holding, said: “Dubai Holding understands the vital role SMEs play in developing economies and the positive impact they have on the business ecosystem. We are aligned with the government’s agenda to develop the SME sector and are committed to supporting Emirati entrepreneurs. This partnership represents our concerted efforts to contribute to Dubai’s economic diversification and the results achieved demonstrate the strong local appetite for competitive business models and innovative ideas.”