Expo 2020 Dubai awarded contracts worth $1.85 billion (AED 6.8 billion) to small and medium-sized enterprises (SMEs), representing more than a quarter of all Expo 2020 Dubai contracts in terms of value.
The value of contracts exceeded the commitment made in 2016 to award at least 20 percent of all direct and indirect spend to SMEs.
Of the 3,245 suppliers that were awarded contracts by Expo 2020 Dubai, 66 percent (2,150) were SMEs, with 64 percent (1,390) of these comprising domestic SMEs.
The chief financial officer and deputy CEO of Expo 2020 Dubai, Mukhtar Safi, said: “Our commitment to SMEs has been embedded into our planning since the very beginning of our World Expo journey, honouring the visionary leadership of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to support and empower SMEs – the lifeblood of economies across the world, including the UAE, where they are an important driver of economic growth and a vital source of job creation.”
The majority of the 760 overseas SME suppliers hailed from the UK (24 percent), the US (16 percent), France (4 percent), India (4 percent), and Australia (4 percent).
Overall, suppliers from outside the UAE were sourced from 94 countries, indicative of the World Expo’s global reach and impact.
“The integration of SMEs into the delivery of what has been a truly exceptional World Expo will be an important part of Expo’s legacy for the UAE and wider region, stimulating employment, strengthening existing industries, enhancing SME competitiveness and ultimately contributing to sustainable economic growth,” Safi added.
From construction firms to event organisers, retail stores to food and beverage outlets, SMEs played a key role in the success of Expo 2020 Dubai, which awarded $288.5 million (AED 1.06 billion) to UAE-based SMEs in 2021 alone.
Of this, AED 161.7 million ($44 million) in contracts were awarded to Dubai SMEs, strengthening Dubai’s Government Procurement Programme, which requires the UAE Government entities and establishments where the government holds equity of 25 percent or more to allocate 10 percent of their purchasing to Emirati firms that are members of Dubai SME.
The Expo 2020 Dubai procurement process itself was based on three principles: Simplicity, transparency, and inclusivity, allowing business of all sizes to do business with Expo 2020 Dubai as easily and competitively as possible.
In 2018, Expo 2020 Dubai became the first World Expo and only the second ever mega-event to secure an Excellence in Procurement Award from the Chartered Institute of Procurement & Supply.
Follow us on
