MoF, KFED team up to support small and medium businesses

The Ministry of Finance (MoF) signed a Memorandum of Understanding (MoU) with the Khalifa Fund for Enterprise Development (KFED) at the ministry’s headquarters in Abu Dhabi, aimed at strengthening cooperation between the two parties to support entrepreneurs and small and medium enterprises (SMEs) accredited by the Fund, and to enable them to participate in procurement opportunities across the federal government.

The MoU was signed by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and Mouza Obaid Al Nasri, Chief Executive Officer of the Khalifa Fund for Enterprise Development, in the presence of Mariam Mohammed Al Amiri, Assistant Undersecretary of the Ministry of Finance for Government Financial Management.

Younis Haji AlKhoori said: “The memorandum of understanding with the Khalifa Fund for Enterprise Development is part of the Ministry of Finance’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.”

AlKhoori added: “Cooperation with the Khalifa Fund for Enterprise Development is a significant step in the right direction towards linking SMEs to commercial opportunities available via the digital procurement platform and enabling them to benefit from the programmes and initiatives offered by the Ministry, in particular the Federal Catalogue and the Federal Suppliers Register.”

He noted that the Ministry is keen to develop the federal government procurement system to enhance its efficiency and competitiveness, and to ensure its inclusiveness of all business community components, especially national entrepreneurs, in line with the nation’s sustainability vision.

He also emphasised the importance of continued cooperation with strategic partners to achieve shared goals, support the national entrepreneurship environment, and increase the effective contribution of SMEs to the national economy.

Mouza Obaid Al Nasri, CEO of the Khalifa Fund for Enterprise Development, said: “The signing of the Memorandum of Understanding with the Ministry of Finance 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. This participation is not merely a business opportunity, but a strategic tool to boost productivity, foster innovation, and build strong national companies capable of growing locally and competing regionally and globally,” Al Nasri added.

Under the memorandum of understanding, the Ministry of Finance 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.

The Ministry 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.

As part of its commitment, the Ministry will develop awareness materials detailing the registration process for the Federal Suppliers Register, the benefits available to entrepreneurs under the federal procurement framework, procedures for participating in tenders, and the product and service categories included in the Federal Catalogue.

Additionally, the Ministry will issue the necessary notifications to the Khalifa Fund, promoting available business opportunities announced by federal entities through the digital procurement platform, in alignment with the sectors and activities relevant to SMEs.

The memorandum also outlines the Ministry’s coordination with relevant competent authorities to ensure the alignment of efforts and the achievement of shared objectives. It further includes cooperation with the Fund to organise training workshops and facilitate registration on the “SME Champions” platform, thereby strengthening the effective participation of these enterprises in major supply chains and government procurement opportunities.