Hamdan bin Mohammed: GPP provides exceptional growth opportunities for entrepreneurs
- April 1, 2018
Local and Federal Government entities play a significant role in supporting the growth of national start-ups by providing lucrative contracts and business opportunities through the Government Procurement Programme, GPP, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said.
The programme is a leading initiative that provides business opportunities for Emirati Small and Medium Enterprises, SMEs, and supports them in expanding their operations, thereby promoting national entrepreneurship and contributing to enhancing Dubai’s GDP.
The total value of the contracts provided by Dubai SME – the agency of the Department of Economic Development, DED, in Dubai, mandated to develop the SME sector – for GPP members amounted to AED1.5 billion in 2017, 44.5 percent higher than the AED857.76 million recorded in 2016. For the first time, the value of the contracts exceeded AED1 billion.
Sheikh Hamdan thanked His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, for his support for the SME sector, citing Article 12 of Law No. 16 of 2016, which requires all Dubai Government entities – as well as institutions where the Dubai Government owns more than 25 percent of the capital – to procure 10 percent of their purchases from Emirati-owned Dubai-SME-member start-ups.