Dubai Launches SME Assistance Program

by Lorys Charalambous, Tax-News.com, Cyprus

17 August 2010

The Dubai Export Development Corporation (EDC), an agency of the government of Dubai’s Department of Economic Development (DED), has launched its new Export Assistance Program, which is to provide financial assistance to privately-owned small- and medium-sized enterprises undertaking exporting activities from the Emirate.

According to the Department, "the Export Assistance Program has been developed to assist SMEs in exploiting international business opportunities by providing access to financial assistance that will allow them to commence and develop their export activities, which in turn will result in the export of goods and services of UAE origin.”

Sami Al Qamzi, Director General of DED explained that the newly-launched scheme would serve as a catalyst for creating, developing and expanding export markets for the United Arab Emirates (UAE). “In accordance with Dubai’s Strategic Plan 2015, the Export Assistance Program will help us expand the overall number of sustainable national exporters for the long-term benefit of Dubai and the UAE as a whole."

“Qualified SMEs will be encouraged to undertake export promotion activities in order to create or increase the demand outside the country for their products. Suitable activities which are eligible for partial reimbursement under the Export Assistance Program include conducting market studies, carrying out market visits, exhibiting at trade exhibitions and carrying out buyer visits,” Al Qamzi explained.

“This new scheme is aimed at promoting exports of goods and services that are of UAE origin with a minimum 40% value addition in the UAE," Saed Al Awadi, CEO of the Export Development Corporation added.

Apart from the Export Assistance Program, the EDC also offers practical export advice, international market intelligence and on-going export support to aspiring and current exporters in Dubai and the rest of the UAE.

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