Expo 2020 Dubai Awards $1.8 Bln in Contracts to SMEs

Expo 2020 Dubai Awards $1.8 Bln in Contracts to SMEs

Expo 2020 Dubai awarded AED 6.8 billion (around $1.8 billion) of contracts to small and medium-sized enterprises (SMEs), providing a significant contribution to a vital sector of Dubai’s vibrant economy and exceeding a commitment made in 2016 to award at least 20% of all direct and indirect spend to SMEs.

The figure represents more than a quarter of all Expo 2020 Dubai contracts in terms of value. Of the 3,245 suppliers awarded Expo 2020 Dubai contracts, 66% (2,150) were SMEs, with 64% (1,390) of these comprising domestic SMEs, reflecting the caliber and diversity of UAE-based enterprises and supporting the UAE’s wider drive towards a thriving private sector and more resilient economy.

The majority of the 760 overseas SME suppliers hailed from the United Kingdom (24%), the United States (16%), France (4%), India (4%) and Australia (4%). Overall, suppliers from outside the UAE were sourced from 94 countries, indicative of the World Expo’s global reach and impact.

Mukhtar Safi, Chief Financial Officer and Deputy CEO, Expo 2020 Dubai, said: “Our commitment to SMEs has been embedded into our planning since the very beginning of our World Expo journey, honoring the visionary leadership of Sheikh Mohamed bin Rashid Al Maktoum, Vice President and Prime Minister