Both entities will support SMEs in access to knowledge, participation in innovative projects and attracting investments
Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has signed a memorandum of understanding (MoU) with Emaar Industries & Investments (EII) to co-operate and collaborate in assisting local SMEs to be part of innovative projects and grow internationally.
The MoU is part of the Dubai SME strategy to create partnerships and platforms that facilitate SME access to specialised expertise and investment support required to attain global competencies and grow sustainably. Saeed Al Marri, Deputy CEO of Dubai SME, and Waleed Dhaduk, CEO of Emaar Industries & Investments, signed the MoU in the presence of senior officials.
Commenting on the partnership, Al Marri said it will provide a significant opportunity for SMEs to achieve accelerated growth through participation in innovative projects, particularly in industrial initiatives aimed to keep Dubai in the forefront of the Fourth Industrial Revolution.
“SMEs in Dubai have acquired world-class capabilities in varied products and services as a result of the emphasis on entrepreneurship in the vision and strategies guiding development in the emirate. Dubai SME is delighted to have Emaar Industries & Investments as our esteemed partners and together we will focus on enabling our SMEs compete with the best in the world in diverse industries,” Al Marri stated.
Waleed Dhaduk said: “Through our collaboration with Dubai SME, we are underlining our commitment to playing a constructive role in maximising the positive impact of international SMEs in Dubai. This reflects the vision of the Dubai leadership to promote SMEs, a key contributor to the GDP, and also to accelerate the industrial ecosystem in line with the Dubai Industrial Strategy. EII has proven expertise in nurturing innovative enterprises and taking their growth to the next level. We will offer our strategic insights in supporting SMEs to grow globally.”
Under the MoU, Dubai SME and EII have agreed to help facilitate exchange of market information, investment trends, collaboration via business partnerships and contracts as well as identification of interesting prospects/targets that add value to both parties.