UAE Ministry of Finance (MoF) and Dubai SME, an integrated division of Dubai Economy have signed a Memorandum of Understanding (MoU) to support the business sector and advance comprehensive as well as sustainable development in the Emirate.
The MoU was signed by Ms. Mariam Al Amiri, Under-Secretary of the Ministry of Finance’s Financial Management Sector, and Mr. Saeed Matar Al Marri, Deputy CEO of Dubai SME, and it aims to assist entrepreneurs and SME owners in the region.
Under the terms of the MoU, both parties will assist SME owners registered with Dubai SME by encouraging them to register with the Ministry of Finance’s Federal Supplier Register so that they can participate in government tenders and contribute to the UAE’s sustainable development.
Dubai SME will enable them to register in the Federal Supplier Register and share the data of their registered SMEs’ owners with the Ministry of Finance to improve effective contact with its licensed enterprises.
“SMEs play a vital role in the national economy’s sustainable development. At Dubai SME, we are committed to enhancing the capabilities of these enterprises and enabling them to be among the fundamental components in various sectors. This is in line with our wise leadership’s directives to provide the appropriate environment that supports business continuity, especially for SMEs. We are pleased to cooperate with the Ministry of Finance to provide local start-ups and SMEs with new opportunities and take part in government tenders.”
Mr. Al Amiri has affirmed the ministry’s desire to work with various federal, state, and local institutions, as well as private sector businesses, to help the country’s business sector, entrepreneurs, and small business owners. This reflects the ministry’s belief in the projects’ position in diversifying the national economy and promoting the country’s comprehensive and sustainable growth.
“At the Ministry of Finance, we are working to achieve the vision of the wise leadership to support and empower entrepreneurs and pave the way for SMEs to contribute to bolstering the national economy. During the past period, the ministry has devised sound policies and procedures to stimulate the economic movement and support the business sector in the country,” he further added.