ENOC looks to source five percent of supplies from SMEs
Emirates National Oil Company Ltd (ENOC) LLC is aiming to source five percent of its annual supply needs from the small-to-medium business sector in line with its support for the Sheikh Mohammed Bin Rashid Establishment for Young Business Leaders.
The Dubai-headquartered energy group says it has already made headway in reaching its target following the formation of a special steering committee. "The committee is made up of key executives representing companies and major business units within the group," explained Hussain Sultan, Group chief executive and board member, ENOC.
"Its aim is to create internal awareness of the objectives of SMEs and to steer the process forward. The team has achieved excellent results in a limited time with a considerable number of sales awarded to SME registered companies over recent months."
Sultan explained that ENOC has put in place plans and internal processes targeted at reaching its five percent objective. "These include technology solutions that classify SME registered companies by nature of business, and immediately notify and invite them to participate in forthcoming tenders," he said.
ENOC believes its support for the Sheikh Mohammed Bin Rashid Est. For Young Business Leaders demonstrates its commitment to assisting the national economy and developing a business community for the future.
"This support is now one of ENOC’s top priorities," said Sultan. "We are also currently looking at strategic plans that will further enhance the relationship between these two Government of Dubai companies."
The Sheikh Mohammed Bin Rashid Est. For Young Business Leaders was established last year as the first initiative of the Dubai Development and Investment Authority (DDIA). Its vision is to nurture the domestic entrepreneurial spirit of Dubai and help spur the development and growth of the local SME sector.
"We are looking to enhance entrepreneurial activity among UAE nationals through education, promotions and the creation of opportunities," said Saeed Hussain Al-Muntafiq, director general, DDIA. "ENOC is a sterling example of education at work and the results it can bring once the business community at large is made more aware of the role the SME sector has in any thriving economy."
The Sheikh Mohammed Bin Rashid Est. For Young Business Leaders offers various incentives and programs to existing and would-be entrepreneurs. These include facilitating access to government procurement activities, facilitating access to capital, promoting entrepreneurship in Dubai and assisting with access to business services.— (menareport.com)
© 2003 Mena Report (www.menareport.com)