Abu Dhabi SME Champions Program Supports $24 Million in Procurement Contracts

UAE, 02 October, 2024 : The Abu Dhabi SME Champions programme has facilitated AED88.6 million ($24 million) in procurement deals within six months, surpassing expectations. Launched by the Abu Dhabi Department of Economic Development (ADDED) in 2023, the initiative aims to enhance SME participation in procurement with large private companies (LCs) and government-related entities (GREs).

In its pilot phase, 54 contracts were awarded to 50 SMEs, with an average procurement value of AED1.8 million. SMEs in the telecommunications, electrical, consultancy, and security sectors secured significant deals, while 75% of contracts went to those in construction, apparel, and catering.

The programme attracted 835 applications, identifying 190 suppliers. Small enterprises claimed 63.5% of the contracts, valued at AED56 million, while medium-sized businesses accounted for 36.2%, worth AED32.1 million.

Executive Director of the SMEs Sector at ADDED, Mouza Al Nasri, highlighted the programme's success in surpassing targets, supporting SMEs in driving Abu Dhabi’s economic growth and diversification.

Major companies like Etihad Aviation Group, Aldar Projects, and Emirates Steel Arkan have joined the initiative, with a goal of providing AED230 million in procurement opportunities for SMEs in 2024. The programme also offers upskilling and support to help SMEs compete in larger procurement processes.

Source : www.zawya.com