Facilitates Entrepreneur Entrepreneurship 10 New and Future Sectors

13.5 thousand small companies benefit from the national added value program

The "program" enhances the dependence of local industries on basic materials available within the country.

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The Ministry of Industry and Advanced Technology revealed that more than 13,500 small and medium companies will benefit from the national added value program, in the form of numerous financial and technical facilities, which is reflected in the medium, small and micro enterprises sector, in terms of enabling entrepreneurs to develop projects and small enterprises. Helping these companies to grow, enhance their capabilities, and enable them to contribute effectively to the national economy.

Finance

In response to questions by "Emirates Today", the ministry stated that "finance is no longer an obstacle for small enterprises and entrepreneurs," noting that the national added value program contributes to addressing the challenges facing small enterprises, foremost of which is the challenges of financing.

It stated that it provided, through the program, a package of financing solutions for small and medium-sized companies and the entrepreneurs sector, and easy financing options for this category, through the Ministry's partners, most notably the Emirates Development Bank, which will provide a set of financing incentives for program certificate holders exclusively with a competitive profit rate. What supports its ability to continue and expand.

new sectors

The ministry explained that the program facilitates entry of small and medium enterprises into 10 new and future sectors, which are: petrochemical industries, heavy industries, electricity, machinery and equipment, food and beverage products, as well as entering into future industries such as space, hydrogen, agricultural technology, medical devices and equipment, Medicines, pharmaceutical products, etc., which increases the UAE's contribution to global value chains.

She added that the major industrial institutions in the UAE will cooperate, through the National Value Added Program, in building specialized local supply chains, providing thousands of opportunities for small and medium enterprises and entrepreneurs, pointing out that the positive impact will not stop at the industrial sector only, but will transfer its effects to the rest of the sectors. economics in the country.

growth opportunities

She expected that the entrepreneurship sector and small and medium-sized enterprises would achieve greater growth opportunities, through the localization of value chains, as the program, which was approved by the Council of Ministers within the "Fifty Projects", helps entrepreneurs and the small business sector find real growth opportunities among major manufacturers and suppliers, and the spread of products. UAE in new foreign markets.

supportive canopy

The ministry indicated that the Emirates Development Bank has provided a supportive umbrella for providing consultations and feasibility studies in a way that will lead to doubling the number of national factories and enhance commercial feasibility opportunities, especially since most of those who start their own projects may lack experience and practical knowledge in the market, hence the importance of technical support for entrepreneurs. People with ideas and talents.

incentives

The ministry confirmed that the program gives local companies many incentives, enhances the dependence of local industries on basic materials available within the country, and will give suppliers several competitive advantages, as 21 companies have been provided to provide the national value-added certificate service to suppliers, according to neutral standards in a way that allows more than one option. My price is flexible in front of them to get the certificate.

She indicated that she is currently studying with certificate-issuing companies offering discounts to small and micro companies.

Entities and companies

The ministry explained that by 2025, the program will include 45 federal entities and 15 major national companies, and will work to increase the number of approved suppliers from 5,000 currently to 7,300 companies, in addition to providing capabilities and competitive financing solutions to local suppliers, members of up to 10 billion dirhams, through the Emirates Bank. For development, divided between five billion for entrepreneurs and small and medium-sized enterprises, and another five billion in institutions that adopt advanced technology solutions.

positive repercussions

The ministry pointed out that the national added value program will not only support entrepreneurs and small companies, but will have positive repercussions on the growth of the national economy and the production of more quality jobs.

developmental leap

The ministry stated that the UAE has succeeded in achieving a developmental leap, based on the applications of the Fourth Industrial Revolution, which provided at the national level the opportunity to move from importing technical solutions in previous decades to serious steps towards exporting knowledge today.

redirection

It is noteworthy that manufacturers and suppliers in the country will benefit from the National Value Added Program, by redirecting billions of dirhams from purchases of government, national and private entities that are members of the program, to the local markets in the UAE.

The 10 sectors

Petrochemical industries.

- heavy Industries.

- electricity.

- The machines and the equipments.

Food and beverage products.

- The space.

Hydrogen.

Agricultural technology.

Medical devices and equipment.

- Medicines and pharmaceutical products.

Greater opportunity for real partnerships

The Ministry of Industry and Advanced Technology said, "The National Value Added Program gives citizen entrepreneurs and industrial investors a greater opportunity to enter into real and direct partnerships with foreign companies, in a way that benefits the national economy."

"The Program" provides a package of financing solutions for small and medium-sized companies.

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