MoF, Dubai SME Sign An MoU To Support Entrepreneurs And SMEs
As part of its continuous efforts to support the business sector and advance comprehensive and sustainable development in the country, the Ministry of Finance (MoF) recently signed a Memorandum of Understanding (MoU) with Dubai SME, an integrated division of Dubai’s Department of Economic Development (Dubai Economy). H.E. Mariam Al Amiri, Undersecretary, Financial Management Sector at MoF and Saeed Matar Al Marri, Deputy CEO of Dubai SME, signed the MoU which seeks to support entrepreneurs and SME owners in the country.
H.E. Al Amiri reaffirmed the Ministry of Finance's keenness to cooperate with various federal and local entities, and private sector companies, to support the country’s business sector, entrepreneurs, and SME owners. This comes within the ministry’s belief in the role of these projects in diversifying and boosting the national economy and advancing comprehensive and sustainable development in the country.
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 MoF, so they can participate in government tenders offered by federal entities and thus contribute to the UAE’s sustainable development. 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.
UAE Ministry of Finance
The UAE Ministry of Finance (MoF) is responsible for implementing all fiscal, monetary and industrial policies related to the UAE’s economic development. Among its core responsibilities are the preparation and allocation of the Federal Budget and the management of the government’s financial position.