.
.
.
.

UAE MoF signs MoU with Dubai SME to support entrepreneurs and small businesses

Published: Updated:

The United Arab Emirates’ Finance Ministry (MoF) has signed a Memorandum of Understanding (MoU) with Dubai SME to support entrepreneurs and SME owners in the country. H.E. Mariam Al Amiri, Undersecretary, Financial Management Sector at MoF and Saeed Matar Al Marri, Deputy CEO of Dubai SME, signed the MoU recently.

For the latest headlines, follow our Google News channel online or via the app.

It’s part of the UAE’s efforts to support the business sector and advance comprehensive and sustainable development in the country.

H.E. Al Amiri reaffirmed the MoF's keenness to cooperate with various federal and local entities, and private sector companies, to support the country’s business sector. The ministry believes its actions will help diversify and boost the national economy.

H.E. Al Amiri said: “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 economy movement and support the business sector in the country.”

Saeed Matar Al Marri said: “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.”

Under the MoU, both parties will promote and support SME owners registered within Dubai SME, by encouraging them to register in the Federal Supplier Register at the MoF, so they can participate in government tenders offered by federal entities. In turn, Dubai SME will encourage its accredited enterprises to register in the Federal Supplier Register and exchange the data of its registered SMEs’ owners with MoF, to enhance effective communication with them.

Read more:

Only with transparency can SMEs secure trusting commercial partnerships with lenders

Saudi Arabia’s Cabinet approves establishing bank of SMEs