Dubai: Dubai Holding has signed a memorandum of understanding (MoU) with Dubai SME, an agency of the Department of Economic Development (DED) in Dubai, according to a statement on Wednesday.
The MoU will provide Dubai SME members with incentives for operations within Dubai Holding companies such as Tecom Group, Jumeirah Group and Dubai Properties Group.
Dubai Holding offers business environments across several sectors such the hospitality, real estate, media, ICT, design, industrial, educational, life sciences, retail, and telecommunications, among others.
The partnership with Dubai SME will help Dubai Holding better support Emirati entrepreneurs and their start-ups as well as existing businesses in Dubai Holding’s business communities, stated Ahmad Bin Byat, Vice-Chairman and Managing Director of Dubai Holding.
“The SME [small and medium sized enterprises] sector is vital to Dubai Holding’s strategy of creating an innovation driven knowledge-based economy in line with Dubai’s long-term ambition to transform into the smartest and most productive city in the world,” he said.
Abdul Basit Al Janahi, CEO of Dubai SME, said that the agency has supported more than 20,000 Emirati entrepreneurs and contributed to the launch of more than 3,300 national enterprises.
“Nearly Dh250 million have been disbursed by Dubai SME in incentives and facilities to entrepreneurs during the same period and in addition, we have helped them win government contracts worth more than Dh2.5 billion,” he said in the statement.
