Dubai: 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.
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About Dubai SME
Dubai SME, an agency of the Department of Economic Development (DED), Government of Dubai, aims to foster an entrepreneurial culture and develop a competitive SME sector for the Emirate of Dubai. The key strategies adopted by Dubai SME are: advocate a pro-business environment for developing entrepreneurship and SMEs, seed innovative start-ups and groom promising SMEs. Dubai SME’s vision is to make Dubai the centre for innovative SMEs to start, grow and expand their businesses, thus adding greater value to the economy of Dubai.
For further information, please contact:
Faisal Shamsudheen, Tel: (971 4) 445 5927, Email: faisal.pathiasseri@dubaided.gov.ae
About Emaar Industries & Investments
Emaar Industries & Investments (EII) is a private joint stock company and an associate of Emaar Properties (PJSC) with an investment focus in construction, manufacturing, real-estate and hospitality services. EII invests in high growth potential businesses that are complementary to the Emaar ecosystem. EII increases the value of their portfolio by injecting capital into businesses as well as helping these businesses unlock greater business opportunities.
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