Members of Dubai SME, the agency of the Department of Economic Development, DED, mandated to develop the small and medium enterprise, SME, sector, won contracts worth AED17 million during the first half of 2016 under a partnership between the agency and Dubai Holding, a global investment holding company.

This partnership aims to support competitive entrepreneurs in the emirate, and across the UAE.

The beneficiaries include 46 Emirati enterprises that are also covered by the Government Procurement Programme (GPP). Service providers accounted for 48.7 percent of the beneficiaries and won contracts worth AED8.5 million while contracts worth over AED1.1 million were won by foods sector companies that had a 6.4 percent strength of the total.

Companies from diverse sectors such as public services, advertising, interior design, stationery, logistics, consultancy and training accounted for 44.9 percent of the beneficiaries, which together won contracts worth AED7.8 million.

"We are proud of our partnership with Dubai Holding, and the outstanding results achieved during the first half of this year itself proves our shared commitment to supporting SMEs in Dubai and enabling them to be productive and sustainable. Initiatives in Dubai have recently opened up vast opportunities for national entrepreneurs to demonstrate their competencies in the local market as well as globally," said Abdul Baset Al Janahi, CEO of Dubai SME.

"The partnership brings varied benefits to entrepreneurs, over and above winning contracts. Dubai Holding offers 20 percent discount on industrial land, workers housing, commercial and industrial warehouse, offices, galleries and shops, all for a period of five years. We are looking at strengthening the partnership to cover more areas and offer added benefits to Dubai SME members," he added.

The partnership with Dubai Holding is part of a series of agreements Dubai SME entered into in 2016 with government, semi-government and private sector entities to optimise the benefits for Dubai SME members, added Al Janahi.

"Through such agreements, Dubai SME seeks to promote entrepreneurship and highlight growth opportunities for SMEs by way of capability development programmes and enabling our members to meet the varied requirements of government departments," he added.

Fadel Al Ali, Chief Executive Officer, Dubai Holding, commented, "Dubai Holding understands the vital role SMEs play in developing economies and the positive impact they have on the business ecosystem as a whole. We are aligned with the government’s agenda to develop the SME sector, and as such are committed to supporting Emirati entrepreneurs. This partnership represents our concerted efforts to contribute to Dubai’s economic diversification and the remarkable results achieved in the first six months alone demonstrate the strong local appetite for competitive business models and fresh innovative ideas."

"Dubai Holding has a long history in supporting Dubai’s economic diversification plan, delivering developing industry-specific infrastructure through TECOM Group and operating business incubators, such as ‘in5’ and ‘in5 Media’ in Dubai Internet City," Al Ali added