Dubai SME members, including Emirati entrepreneurs and national companies, won contracts and purchases worth Dh1.12 billion ($305 million) in 2022 – a 21.5 per cent year-on-year increase – as part of the UAE's efforts to support entrepreneurship.
Under the Government Procurement Programme, Dh553 million worth of contracts were awarded by Dubai government entities to these small and medium-sized enterprises and Dh88 million by federal government bodies, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said in a tweet on Wednesday.
Semi-government bodies awarded Dubai SME members Dh268 million in contracts, while the private sector provided Dh214 million in contracts, Sheikh Hamdan said.
The move shows “Dubai's commitment to supporting Emirati entrepreneurs and empowering SMEs”, he said.
“We will continue to support entrepreneurial creativity in Dubai … and look forward to seeing new success stories to go global from Dubai.”
The Government Procurement Programme, an initiative of the emirate's Department of Economy and Tourism, has awarded contracts and purchases worth Dh9.6 billion over the past two decades since Dubai SME's inception in 2002, the Dubai Media Office said in a statement.
Dubai, the commercial and trading hub of the Middle East, has unveiled various support measures for SMEs, including financing facilities and mentorship opportunities.
SMEs account for about 98 per cent of companies operating in the UAE. Developing the sector and accelerating the growth of start-ups are priorities for the UAE government under its development strategy for the next 50 years.
Last year, the UAE Ministry of Economy launched an updated programme to drive the country's goal of becoming a global leader for entrepreneurship.
The Entrepreneurial Nation 2.0 initiative seeks to develop more than 8,000 SMEs and start-ups by 2030, the ministry said in October last year.
The Government Procurement Programme is helping to back the Dubai Economic Agenda D33 and “opening new horizons” for Emirati entrepreneurs, Sheikh Hamdan said.
The D33 strategy is aimed at boosting the emirate’s competitiveness and future-readiness. The plan envisages a programme to support 30 private companies to achieve unicorn status ― worth more than $1 billion ― by 2033.
D33 also aims to make Dubai a global digital economy leader, the fastest growing and most attractive global business centre, a hub for sustainability and economic diversification, and an incubator and enabler of talent.
Dubai is a “centre for launching those with big ambitions” and “backing Emirati entrepreneurs is a priority”. Sheikh Hamdan said.
“The increase in the value of contracts awarded to Dubai SME members in 2022 underlines the confidence and trust in the local SME sector and its pivotal role in building a competitive and diversified economy,” said Helal Almarri, director general of Dubai’s Department of Economy and Tourism.
“We encourage increased support from government, semi-government, and private sector establishments to create more opportunities for Emirati entrepreneurs and pave the way for top-performing SMEs to grow into successful global enterprises.”
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
THE NEW BATCH'S FOCUS SECTORS
AiFlux – renewables, oil and gas
DevisionX – manufacturing
Event Gates – security and manufacturing
Farmdar – agriculture
Farmin – smart cities
Greener Crop – agriculture
Ipera.ai – space digitisation
Lune Technologies – fibre-optics
Monak – delivery
NutzenTech – environment
Nybl – machine learning
Occicor – shelf management
Olymon Solutions – smart automation
Pivony – user-generated data
PowerDev – energy big data
Sav – finance
Searover – renewables
Swftbox – delivery
Trade Capital Partners – FinTech
Valorafutbol – sports and entertainment
Workfam – employee engagement
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New process leads to panic among jobseekers
As a UAE-based travel agent who processes tourist visas from the Philippines, Jennifer Pacia Gado is fielding a lot of calls from concerned travellers just now. And they are all asking the same question.
“My clients are mostly Filipinos, and they [all want to know] about good conduct certificates,” says the 34-year-old Filipina, who has lived in the UAE for five years.
Ms Gado contacted the Philippines Embassy to get more information on the certificate so she can share it with her clients. She says many are worried about the process and associated costs – which could be as high as Dh500 to obtain and attest a good conduct certificate from the Philippines for jobseekers already living in the UAE.
“They are worried about this because when they arrive here without the NBI [National Bureau of Investigation] clearance, it is a hassle because it takes time,” she says.
“They need to go first to the embassy to apply for the application of the NBI clearance. After that they have go to the police station [in the UAE] for the fingerprints. And then they will apply for the special power of attorney so that someone can finish the process in the Philippines. So it is a long process and more expensive if you are doing it from here.”
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Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Madrid Open schedule
Men's semi-finals
Novak Djokovic (1) v Dominic Thiem (5) from 6pm
Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm
Women's final
Simona Halep (3) v Kiki Bertens (7) from 8.30pm
HWJN
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Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
UAE currency: the story behind the money in your pockets
Pathaan
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UAE currency: the story behind the money in your pockets
The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
Princeton
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
6 UNDERGROUND
Director: Michael Bay
Stars: Ryan Reynolds, Adria Arjona, Dave Franco
2.5 / 5 stars
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
Results:
CSIL 2-star 145cm One Round with Jump-Off
1. Alice Debany Clero (USA) on Amareusa S 38.83 seconds
2. Anikka Sande (NOR) For Cash 2 39.09
3. Georgia Tame (GBR) Cash Up 39.42
4. Nadia Taryam (UAE) Askaria 3 39.63
5. Miriam Schneider (GER) Fidelius G 47.74
UAE%20v%20West%20Indies
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