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UAE Plans New Legislation to Boost Growth of SMEs

14/4/2014

UAE has planned a legislation aiming to boost the growth of small and medium-sized enterprises (SMEs) by requiring 10 percent of future federal government contracts to be awarded to SMEs.

UAE has planned a legislation aiming to boost the growth of small and medium-sized enterprises (SMEs) by requiring 10 percent of future federal government contracts to be awarded to SMEs.

The government is keen to promote SMEs in order to reduce unemployment among UAE citizens and help them establish their own companies, a step towards diversifying the economy beyond oil.

The said law is expected to be enacted within three months.

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