Abu dhabi: The Ministry of Finance (MoF) has entered into a Memorandum of Understanding (MoU) with the Khalifa Fund for Enterprise Development at the ministry's headquarters in Abu Dhabi. This collaboration is aimed at enhancing cooperation between the entities to support entrepreneurs and small and medium enterprises (SMEs) accredited by the Fund, enabling them to engage in procurement opportunities across the federal government.
According to Emirates News Agency, 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. The signing was attended by Mariam Mohammed Al Amiri, Assistant Undersecretary of the Ministry of Finance for Government Financial Management.
Younis Haji AlKhoori emphasized that the MoU is part of the Ministry's efforts to strengthen national partnerships that support entrepreneurs and SMEs, facilitating their participation in the government procurement ecosystem. The Ministry is dedicated to creating a sustainable business environment that promotes entrepreneurial ventures and integrates them with federal supply chains.
AlKhoori further elaborated on the significance of the partnership with the Khalifa Fund, which aims to connect SMEs to commercial opportunities via the digital procurement platform. This collaboration will allow SMEs to benefit from the Ministry's initiatives, such as the Federal Catalogue and the Federal Suppliers Register. The Ministry is focused on improving the federal government procurement system to ensure its competitiveness and inclusiveness, aligning with the nation's sustainability vision.
Mouza Obaid Al Nasri, CEO of the Khalifa Fund, highlighted that the MoU is a pivotal step towards empowering Emirati SMEs and enhancing their role in economic diversification and growth. The Fund aims to systematically integrate accredited SMEs into the federal government's supply chains, thereby boosting their innovation capacity and economic contribution.
The MoU outlines the Ministry's commitment to facilitating registration opportunities and framework agreements, allowing SMEs to be listed in the Federal Catalogue of Products and Services. This will expand their access to federal business opportunities. The Ministry will also enhance the skills of entrepreneurs and SMEs, preparing them to qualify as approved suppliers for federal entities.
The Ministry will develop materials to raise awareness about the Federal Suppliers Register and the benefits of the federal procurement framework. It will also notify the Khalifa Fund of available business opportunities relevant to SMEs, promoting participation through the digital procurement platform.
In return, the Khalifa Fund will encourage entrepreneurs and SMEs to register with the Federal Suppliers Register and promote federal business opportunities among its members. The Fund will also provide updated member lists to the Ministry and jointly organize training workshops on registration and participation in federal tenders.
This collaboration marks a significant step in integrating SMEs into major supply chains and government procurement, reinforcing their capacity to compete locally and globally.