National Forum For SMEs Aims To Enhance Government Procurement Opportunities In The UAE

The Ministry of Economy (MoEc) recently hosted the "National Forum for SMEs - Government Procurement," a pivotal event designed to bolster Emirati entrepreneurs by offering them a platform to benefit from tenders and contracts provided by federal entities and local companies. This initiative underscores the government's dedication to nurturing the SME sector, a critical component of the UAE's economic framework. Over 80 federal entities, local firms, and Emirati SME owners participated in the forum, which aimed at enhancing awareness about the role of government procurement in stimulating national economic growth.

Abdullah bin Touq Al Marri, the Minister of Economy, underscored the significance of SMEs in the country's economic landscape. He pointed out that SMEs constitute 95% of all businesses in the UAE and are responsible for employing approximately 86% of the private sector's workforce. The Minister also shed light on various initiatives launched by the Ministry to support Emirati entrepreneurs across different sectors. Among these initiatives, the "National Program for SMEs" stands out by offering services and incentives to projects led by Emirati entrepreneurs through collaborations with both governmental and private sectors. This program has already aided over 5,000 members.

During his inspection tour at the forum, Bin Touq reviewed tenders and contracts and engaged in discussions with event partners. Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry of Economy, emphasized the critical role of procurements in propelling national economic growth and enabling SME participation in government tenders. He highlighted the "Government Procurements for Local SMEs" performance indicator, which assesses federal entities' commitment to dedicating a specific percentage of contracts and tenders to SMEs.

The forum presented contracts and tenders exceeding AED 2.3 billion from more than 30 federal entities and national companies, targeting small and medium enterprises. It featured sessions on policies, legislation, success stories, implementation practices, enhancing opportunities, government initiatives, support from local government entities, and guidelines on becoming a professional supplier to government agencies.

Ultimately, the "National Forum for SMEs - Government Procurement" aimed to empower Emirati entrepreneurs by enhancing their competitiveness and providing them with ample opportunities to leverage government procurement contracts effectively. This initiative reflects the government's steadfast commitment to supporting SMEs and promoting a knowledge-based economy.

With inputs from WAM