19 November 2016
• 46 Emirati enterprises from diverse sectors among beneficiaries
• “Our goal is to boost SME productivity and sustainability,“ says Abdul Baset Al Janahi
• Dubai Holding CEO: We are aligned with the government’s agenda to develop the SME sector, and committed to supporting Emirati entrepreneurs
Dubai, 19 November 2016: 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 AED 17 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.
Companies from diverse sectors such as public services, advertising, interior design, stationery, logistics, consultancy and training accounted for 44.9% of the beneficiaries, which together won contracts worth AED 7.8 million.
Abdul Baset Al Janahi, CEO of Dubai SME, said: “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 has recently opened up vast opportunities for national entrepreneurs to demonstrate their competencies in the local market as well as globally.”
Al Janahi added: “The partnership brings varied benefits to entrepreneurs, over and above winning contracts. Dubai Holding offers 20% 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.”
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.”
Al Ali added: “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.”
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.”
About Dubai SME:
Dubai SME, an agency of the Department of Economic Development (DED), Government of Dubai, aims to foster an entrepreneurial culture and develop a competitive SME sector for the Emirate of Dubai. The key strategies adopted by Dubai SME are: advocate a pro-business environment for developing entrepreneurship and SMEs, seed innovative start-ups and groom promising SMEs. Dubai SME’s vision is to make Dubai the centre for innovative SMEs to start, grow and expand their businesses, thus adding greater value to the economy of Dubai.
For further information, please contact:
Government Communication Division
Department of Economic Development
Tel: (971 4) 455 5927
About Dubai Holding
Dubai Holding is an investment conglomerate with operations in 24 countries employing over 22,000 people. Established in 2004, Dubai Holding today manages an AED 130 billion portfolio of assets, which supports the strong development of Dubai’s non-oil economy across sectors including; tourism, hospitality, real estate, media, ICT, education, design and trade. Its portfolio includes TECOM Group, which manages 11 of Dubai’s most successful business communities; Jumeirah Group, the hospitality arm which owns and operates 22 hotel developments in 11 destinations in 9 countries; Dubai Properties Group, one of the largest fully integrated and community development business in Dubai; Family Entertainment and New Media, which implements a strategic plan to develop new family destinations and further grow digital media business lines.
Dubai Holding’s current project pipeline will add significantly to the Emirate’s portfolio of landmarks. This includes Mall of the World, all-season city district comprising the world’s largest retail network; and Dubai Creek Harbour, a joint venture with Emaar Properties to build a futuristic waterfront city at The Lagoons. Dubai Holding plays an influential role in delivering on Dubai’s economic diversification strategy and initiatives such as Tourism Vision 2020, Dubai Smart City, Dubai Innovation Strategy, Dubai Industrial Strategy and Capital of Islamic Economy.
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© Press Release 2016