Business Bureau, Gulf Today

Dubai SME, the agency of the Department of Economic Development (DED) mandated to develop the small and medium enterprise (SME) sector, has signed a memorandum of understanding (MoU) with the Dubai Chamber of Commerce and Industry (Dubai Chamber) to launch an index that will evaluate the cost of doing business for SMEs in Dubai.

The MoU was signed by Abdul Baset Al Janahi, CEO of Dubai SME, and Atiq Juma Nasib, Senior Vice President of Commercial Services at Dubai Chamber in the presence of representatives from both organisations.

Commenting on the strategic agreement, Al Janahi said: “This partnership effectively contributes to the sustainability and competitiveness of SME businesses by creating a benchmark to measure the cost of doing business for small and medium enterprises in Dubai, which in turn helps to monitor the status of companies periodically and provide the necessary data to stakeholders to accelerate the process of decision making, and thus the development of entrepreneurship in Dubai.”

The agreement will promote knowledge sharing between the two entities, and develop new plans and initiatives to ensure a competitive environment for SMEs in various stages of growth, added Al Janahi. Nasib said: “The agreement between Dubai Chamber and Dubai SME marks the beginning of a strategic partnership that will further our efforts to support the stimulus plans and business-friendly measures launched by the government of Dubai. Through the index and our combined efforts, we can take proactive steps to ensure a favourable business environment and enhance SME competitiveness in Dubai.”

Nasib added that the index will highlight the challenges and opportunities faced by SMEs, identify possible solutions for overcoming such obstacles and highlight the changing needs of businesses operating in this sector with the aim of boosting the contribution of the private sector towards Dubai’s economic and sustainable growth.

Dubai SME, an agency of the Department of Economic Development (DED), Government of Dubai, aims to foster an entrepreneurial culture and develop a competitive SME sector for the Emirate of Dubai. The key strategies adopted by Dubai SME are: advocate a pro-business environment for developing entrepreneurship and SMEs, seed innovative start-ups and groom promising SMEs. Dubai SME’s vision is to make Dubai the centre for innovative SMEs to start, grow and expand their businesses, thus adding greater value to the economy of Dubai.

Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.

Meanwhile the CBRE, the global real estate consulting firm, has launched its first ever Proptech event in the Middle East. Dubai’s Chamber of Commerce and Industry’s event covered the digital transformation of the real estate sector and its effects on property lifecycles from finding and marketing a property to buying, selling and letting it more easily.

Led by Dr. Thomas Herr, EMEA Head of Digital Innovation at CBRE, the forum will provide a unique opportunity for all of those in real estate - from residential to commercial, retail and hospitality — to learn more about the technologies that are revolutionising their sector and how they can be implemented to empower investors and tenants, drive efficiency, increase profitability and enhance trust.

The event featured a lively panel discussion comprised of a number of CBRE leaders in the field of Proptech including: Scott Sullivan, Director, Digital Solutions — Property Management — APAC at CBRE; Anna Tng, Head of Business Development For Property Management — Asia at CBRE; Matt Hallett, Associate Director In EMEA Retail & Consumer Advisory at CBRE; Alexandra Rose, Director, Digital Product Sales EMEA at CBRE; Aidan Purvis, Associate Director, Digital Product Sales at CBRE and Borja Quintero, Architect & Valuation Advisory at CBRE.