The Golden Vendor List is a rebranding and an expansion of the Abu Dhabi Local Content Program begun in 2013, that seeks to develop a sustainable and competitive local supplier base, and a robust local industry in Abu Dhabi.
This new list has been developed by the Abu Dhabi Department of Economic Development (ADDED) in conjunction with the Abu Dhabi Department of Government Enablement (ADDGE); this now extends the successes of the Abu Dhabi Golden List across 145 sectors and now caters for 74% of the government procured products.
That’s because Golden Vendor List financial software key features may include;
- Local Supplier Empowerment: The list offers government entities as well as private companies a vast range of local suppliers with high service standards thus supporting UAE’s objective of improving local sourcing.
- Enhanced Procurement Processes: Applying HS codes for product classification helps make transactions simpler, and enhances clarity to suppliers and buyers.
- Government Tender Integration: Some of the products and services in the list are incorporated in the Abu Dhabi government tendering system, so that the government commercial values would put more weight on local sourcing in each bid.
- Focus on Sustainability and Diversification: It fosters innovation and use of technology and increase investment in research and development (R&D), enabling the growth of the new economy sectors in the emirate.
Economic Impact
The Golden Vendor List is expected to:
- Boost Local Manufacturing: Facilitate industries to synchronize with required Government demand for their expansion.
- Create Jobs: Employment in the company should mainly be given to citizens of United Arab Emirates and encourage the growth of talent.
- Attract Investment: Making available information on government tenders by policy and enhancing investors’ participation about the same.
- Drive Innovation: Propose the usage of technology to advance the usage of technology and the progress in technology to achieve a diverse and strong economy.
Mohammad Al Kamali, Chief Trade and Industry Officer at ADIO, highlighted the importance of this initiative:
Overall, To achieve these goals the government has strategically managed to link its procurement requirements with local manufacturers thus promoting the creation of a diversified economy, encouraging innovations and ensuring the creation of lasting opportunities for business and individuals.
