The UAE Ministry of Finance (MoF) has entered into a Memorandum of Understanding (MoU) with the Khalifa Fund for Enterprise Development, marking a significant step towards enhancing collaboration between the two organizations.
The agreement is designed to bolster support for entrepreneurs and small and medium enterprises (SMEs) accredited by the Fund, providing them with new opportunities to engage in procurement activities across the federal government.
This initiative aims to foster the growth of the UAE’s SME sector and further strengthen the nation’s entrepreneurial ecosystem.
MoF-Khalifa Fund to boost SME participation in government contracts
Under the memorandum of understanding, the MoF will facilitate opportunities for registration and the signing of framework agreements, allowing entities to be listed in the Federal Catalogue of Products and Services and thereby expanding their access to business opportunities within the federal government.
According to the reports, the UAE MoF also pledges to enhance the capabilities and skills of entrepreneurs and small and medium-sized enterprises (SMEs), equipping them to qualify as approved suppliers for federal entities.
HE Younis Haji AlKhoori Undersecretary UAE Ministry of Finance
“The memorandum of understanding with the Khalifa Fund for Enterprise Development is part of the MoF’s ongoing efforts to strengthen national partnerships that support entrepreneurs and SMEs, and to enable their active participation in the government procurement ecosystem. The Ministry is committed to providing a sustainable business environment that supports entrepreneurs and national ventures and opens new growth horizons through integration with federal supply chains.”
HE Mouza Obaid Al Nasri, CEO of the Khalifa Fund for Enterprise Development, said that, “The signing of the Memorandum of Understanding with the MoF marks a significant step in empowering Emirati small and medium-sized enterprises (SMEs) and reinforces Khalifa Fund’s role as a key catalyst for economic diversification, sustainable growth, and long-term competitiveness.”
“Through this collaboration, the Fund undertakes a pivotal role in preparing accredited SMEs and integrating them systematically into the federal government’s supply chains, enhancing their institutional readiness and innovation capacity, and turning them into key contributors to economic growth, expanding their participation in government procurement, and increasing their contribution to GDP,” Al Nasri added.
