Emirates News Agency – 6.8 billion dirhams of contracts awarded to small and medium-sized companies through Expo 2020 Dubai

DUBAI, April 25, 2022 (WAM) – Expo 2020 Dubai has awarded contracts worth 6.8 billion dirhams to small and medium-sized enterprises, making a significant contribution to a vital sector of Dubai’s vibrant economy and exceeding the commitment made in 2016. At least 20 percent of total direct and indirect spending by SMEs.

The figure represents more than a quarter of all Expo 2020 Dubai contracts by value. Of the 3,245 suppliers awarded contracts for Expo 2020 Dubai, 66 per cent (2,150) were SMEs, with 64 per cent (1,390) of these being local SMEs, reflecting the caliber and diversity of UAE-based businesses. based and supporting the UAE’s broader push towards prosperity. The private sector and the most resilient economy.

Most of the 760 SME suppliers overseas came from the UK (24 percent), the US (16 percent), France (4 percent), India (4 percent) and Australia (4 percent). Overall, suppliers outside the UAE came from 94 countries, which is indicative of the global scale and influence of the World Expo.

Mukhtar Safi, Executive Vice President and Chief Financial Officer and Member of the Executive Board of Expo 2020 Dubai, said: “Our commitment to SMEs has been integrated into our planning since the beginning of our journey to the World Expo, in honor of the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and President of the UAE. Cabinet Ruler of Dubai, to support and empower small and medium businesses, the lifeblood of economies around the world, including the UAE, as they are an important engine of economic growth and a vital source of job creation.

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“Incorporating SMEs into presenting what has been a truly exceptional World Expo will be an important part of the legacy of the Expo for the UAE and the wider region, stimulating employment, strengthening existing industries, improving the competitiveness of SMEs and ultimately contributing to sustainable economic growth.”

From construction companies to event organizers and retail stores to food and beverage outlets, SMEs have played a major role in the success of Expo 2020 Dubai, which awarded 1.06 billion dirhams to SMEs in the UAE in 2021 alone.

Of these, 161.7 million UAE dirhams (US$44 million) in contracts were awarded to Dubai’s small and medium-sized businesses, strengthening the Dubai Public Procurement Programme, which requires UAE government agencies and institutions in which the government holds a 25 percent or more stake Allocate 10 percent of it. Their purchases are from UAE member companies in Dubai SME – part of the Department of Economic Development that provides support, information and awareness to SMEs in the growing business sector.

The Expo 2020 Dubai procurement process itself was based on three principles: simplicity, transparency and inclusiveness, allowing companies of all sizes to do business with Expo 2020 Dubai in the simplest and most competitive way. In 2018, Expo 2020 Dubai became the first global exhibition and the second-ever mega event to receive the Excellence in Procurement Award from the Chartered Institute of Procurement and Supply.

Translated by: Mina Samir Fouka.

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