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FINANCIAL NEWS
UAE supports SMEs by 10 percent of government contracts
14 Apr 2014
(MENAFN) As part of UAE’s government to improve and support small and medium-sized enterprises, it will offer 10 percent of future federal government contracts to be awarded to SMEs, according to Arabian Business.
Economy minister Sultan bin Saeed Al Mansouri said: “We want to encourage government agencies to support SMEs to meet their purchasing, service and consulting needs.”
The government aims to reduce unemployment in the UAE and help its citizens establish their own companies.
SMEs will be offered the 10 percent annual financing, as well as tax incentives by domestic major banks.
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