Dubai has an ever-expanding landscape with development happening in every corner of the Emirate. And now, adding to the process, especially for the small and medium enterprise sector, a big agreement is underway. Yes, we are talking about the cooperation agreement between Dubai SME — the subsidiary of the Dubai Department of Economy and Tourism — and the Danube Group — a large conglomerate in the Middle East. They have signed a cooperation agreement that will boost market opportunities and foster growth for Emirati-owned SMEs, thereby developing the small and medium enterprise sector. Here is more about this major cooperation agreement.
Danube Group Signs Agreement With Dubai SME
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Signing the cooperation agreement means that the buyer base will be diversified and there will be an expansion of market opportunities for Emirati-owned SMEs. This strategic alliance between Danube Group and Dubai SME aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, who is the Vice President and the Prime Minister of the UAE and the Ruler of Dubai. In fact, it aligns with his goals of the ambitious Dubai Economic Agenda D33, which aims to consolidate Dubai’s position as a leading global city for business and leisure.
What Did The Leaders Have To Say About This?
The signing ceremony happened at the Danube Properties Headquarters in Dubai. Present at the signing were Rizwan Sajan, Founder and Chairman of Danube Group and H.E. Abdelbaset Mohammed Al Janahi, CEO of Dubai SME.
Here’s what H.E. H.E. Abdelbaset Mohammed Al Janahi had to say about the partnership, “This agreement with Danube Group is a testament to the unique model of public-private partnerships that define the success of the D33 Agenda, underpinned by the visionary leadership’s commitment to make Dubai the best city to visit, live and work in. It is a significant step towards expanding market opportunities for our SME members.”
Rizwan Sajan, the founder of the Danube Group revealed his thoughts about the agreement as well. He said, “Dubai is a hub of opportunities and this agreement is a testament to our ongoing commitment to support and nurture the business community and contribute to the economic growth of Dubai.”
How Is This Partnership Beneficial?
This major signing agreement has several benefits that are bound to benefit small and medium enterprises. They are as follows:
Expanding Market Opportunities
With the signing of this agreement, the partnership aims to attract private-sector buyers from several industries. As a result, Dubai SME-listed members and suppliers will be offered a broad range of tender opportunities. So, as buyers from the private sector will be included, this programme opens a new avenue for growth and business expansion.
Enhancing Competition
The agreement aims to increase the number of buyers who will participate in the programme As a result, it will foster heavy competition among the members’ suppliers. This competitive environment in turn will not only drive innovation but also improve quality and promote efficiency. And, this will ensure that the Dubai SME-listed members can deliver top-class products and services, meeting market demands.
Streamlining The Tendering Process
This is one of the key objectives of the collaboration. It will simplify the process of posting tenders and evaluating supplier proposals. As a result, it will be easier for private sector buyers to engage with Dubai SME members. Additionally, it will help SME members understand and comply with the unique requirements and standards of private sector buyers.
Fostering Partnerships & Collaborations
This will be done by facilitating network opportunities. So, it will encourage the formation of long-term business associations. And this will lead to the driving of mutual growth and success! It’s worth mentioning that these partnerships will lead to innovative solutions and sustainable business practices. So, it will benefit the broader business ecosystem in Dubai.
Finally, it should be noted that the group is helping to create a business environment that fosters growth, sustainability, and innovation.
What do you think about this agreement? Let us know in the comments section below.
Cover Image Courtesy: Internal
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First Published: June 06, 2024 3:26 PM