Expo 2020 Dubai has pledged to feed 20 per cent of contracts, about Dh5 billion, for the event to local and international SMEs.
With more than 400,000 SMEs accounting for 94 per cent of the total number of companies and contributing to more than 60 per cent of the UAE’s GDP, the Expo hopes to provide operational and legacy-driven initiatives to bolster and support the community, it said on Monday in a statement.
“The possibilities for SME participation in Expo 2020 Dubai are vast and extend far beyond the physical site and the six-month duration of the event itself,” said Reem Al Hashimy, the UAE’s Minister of State for International Cooperation and Director General of the Bureau Expo Dubai 2020. “Expo 2020 Dubai acts as an enabler for SMEs and is constantly looking for opportunities to maximise their integration into the wider UAE economy.”
She said all interested vendors and suppliers are encouraged to register on the Expo 2020 Dubai eSourcing portal as the portal serves as the primary gateway to the vast majority of Expo 2020 Dubai procurement operations.
“This is evident in the strong activity on our e-Sourcing Portal, where of the 6,196 suppliers registered, 2,418 are SMEs, and of the 787 contracts already awarded, 320 have been won by SMEs,” the minister said.
The UAE’s SME Council has been working with the various Expo stakeholders to identify the right mechanisms for SMEs to draw upon the financial facilities and business opportunities available within the UAE.
The procurement process has been modified to allow SMEs to bid more competitively with no tender bonds required and no advanced payment guarantee required.
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