Suppliers that were identified to be SMEs from Dubai formed part of the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development-Dubai SME and had such companies receive AED1. 27 billion in contracts and purchases in 2023. This development, which was released on this year’s UN Micro, Small and Medium Sized Enterprises (MSMEs)’s day, seeks to emphasis the importance of MSMEs when undertaking economic transformations, support and job creation.
In particular, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, stressed on the significance of the development of SMEs in the context of Dubai because they are the main agents of innovation, competitiveness, and sustainability. SMEs have significant contributions in the realization of the objectives of the Dubai Economic Agenda D33 that targets placing the size of Dubai economy two folds and position the emirate’s economy as amongst the three biggest city economies in the world by 2033.
Since its establishment back in 2002, Dubai SME has been able to provide contracts amounting to AED 10. 91 billion to the entrepreneurs of the UAE. For the 2023 contracts, the payment was split by the sector; 606 million AED from the Dubai Government entities, 94. 46 million AED from the federal government, 332 million AED from the semi government, and finally 238. 48 million AED from the commercial establishments.
His Excellency Helal Saeed Almarri, Director General of Dubai Department of Economy and Tourism (DET), stressed on the correlation of Dubai SMEs campaigns and plans with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the D33 agenda. He appreciated the projected large deal size accessible to the Dubai SME members as an indicator of the many sectors’ support to SMEs.
In fact statistics show that nearly 99% of these units make up the establishments in Dubai and provide work for 50% of the human resource and a near about 46% to the total value added for the Dubai. These are critical in the process of economic development, fostering innovation and placing Dubai on the map as the premier business destination it is.
Following the official opening of the exhibition Abdul Basit Al Janahi, CEO of Dubai SME underlined that the organization would continue work in supporting entrepreneurial initiatives and innovations, so Emirates could have everything necessary to become successful businessmen and build productive business in Dubai.
Some of the highest supporting entities of 2023 included Roads and Transport Authority, Municipality of Dubai, Dubai Police, General Directorate of Residency and Foreigners Affairs, Emirates group, Emirates flight catering, Emirates Health Services Corporation, Ministry of Human and National resources, Union coop, Majid Al Futtaim Hypermarkets among others.
