“Industry”: “The Program” provides financing solutions and incentives to support exports.. It includes all services and purchases
The “added value” provides a preferential position for small companies in tenders and partnerships
Omar Al-Suwaidi: “There is no predetermined percentage of the program contracts for small companies, as it depends on the companies’ competitiveness.”
The program provides companies with new opportunities to work and obtain new contracts.
archival
picture
The Undersecretary of the Ministry of Industry and Advanced Technology, Omar Ahmed Suwain’ Al-Suwaidi, said that the national added value program launched by the UAE government the day before yesterday, within the “50 projects” at the state level, will achieve many advantages and benefits for small and medium-sized companies, as it includes all services and purchases, It also includes awarding contracts to small, medium and large companies.
Additional support
In response to a question to "Emirates Today" during a ministry briefing, Al-Suwaidi explained that the program provides solutions to facilitate granting funds to small companies, as it provides them with several incentives to support exports abroad, while additional support will be given to small companies in the form of special advantages and incentives to obtain contracts. Pointing out that these companies will have a preferential status in entering tenders and establishing partnerships with local and foreign companies, small and large.
He added that there is no predetermined percentage of the program contracts for small companies, as it depends on the companies' competitiveness, pointing out that the program provides companies with new and important opportunities to work, obtain new contracts and establish alliances.
incentives
He stated that the National Added Value Program includes incentives for the private sector, indicating that there are incentives for joining companies in general, most notably obtaining energy at competitive prices, as well as providing them with distinguished financing solutions.
He pointed out in this regard that all small, medium and large companies have an opportunity to enter into tenders after their own technical evaluation, which is followed by a financial evaluation based on the percentage of the added national value, explaining that the higher the national value added, the greater the chance to submit a lower price in the tenders. The incentives offered to small businesses were better.
He said that the ministry seeks to increase the national added value of small companies and increase their chances of entering tenders.
industry support
Al-Suwaidi indicated that the National Added Value Program, which is applied at the state level, aims to support the national industry, recycle the bulk of government purchases and services expenditures for the national economy, and create qualitative job opportunities for citizens, pointing out that the program includes the total amounts spent inside the country on the cost of manufacturing and products. Local services, investment in the state, appointment and qualification of national cadres, and this is implemented by issuing certificates to suppliers.
He stated that the program aims to localize the production of goods and services and lead to providing job opportunities for citizens in the private sector, in addition to enhancing the flexibility of value chains, diversifying the domestic product and attracting industrial investments, noting that the program includes thousands of supplier companies and the opportunity is open to add more of them during the coming period.
requirements
Al-Suwaidi added that the program gives supplier companies greater planning for their future operations and saves logistical requirements and time for suppliers and supply operations.
He pointed out that the program will offer special tenders for small companies, with regard to matters that do not require the availability of complex technical aspects for this.
Al-Suwaidi pointed out that the program, which is being implemented by the Abu Dhabi National Oil Company (ADNOC), has created many job opportunities for citizens and has been able to attract new investments.
National Value Added Program
The Ministry of Industry clarified that the National Added Value Program aims to increase the demand for local content and services by redirecting more than 42% of purchase and contract expenses to the national economy, noting that the program will start gradually through 45 federal entities and 15 major national companies. Increasing the number of approved suppliers to 7,300 companies.
She stated that the Emirates Development Bank will provide capabilities and competitive financing solutions to local suppliers and foreign companies that are members of the program, in a way that will raise the demand for Emirati services and products from 33 billion dirhams currently to 55 billion dirhams by 2025.
The ministry indicated that for the first time at the state level, the Ministry of Industry and Advanced Technology will provide a database open to the participants in the program, to help suppliers and entrepreneurs know the supply and demand system in the industrial sector, thus contributing to directing their efforts to provide the most demanded industries, thus improving their performance. It supports opportunities for growth, expansion and prosperity.
Follow our latest local and sports news and the latest political and economic developments via Google news