Expo 2020, Dubai SME join hands to boost Small Firms
- July 19, 2021
- Posted by: axiom_admin
SMEs in UAE have been pivotal in the growth of UAE and its economic development accounting to 86% of the workforce of UAE. As the nation gears up to prepare for the first World Expo to be conducted in Middle East, Africa and South Asia, Axiom Mark’s Business Consultants bring to you a comprehensive analysis of what you can expect from Expo 2020 for SMEs
In a historic turn of events, Dubai won the bid to host the World Expo in 2020 marking a significant milestone in Dubai’s rapidly progressing role in the global economy. This becomes the first ever time a World Expo will be hosted in Middle East, North Africa and South Asia, reinforcing the Dubai’s status as a business hub in the region and is also expected to have around 25 million visitors making it the most inclusive international event in World History.
Expo 2020 is primarily built on Dubai’s strategic ability of public, private sectors partnership and Collaboration with technology and Innovation. Partnership and Collaboration has been vital to the Dubai, that’s how the region has grown, SMEs and Entrepreneurs have been instrumental in Dubai’s rapid economic growth.
According to Dubai Economic Department, SMEs hope to generate a windfall of AED 90 billion from Expo 2020. SMEs have always been the backbone of the UAE’s economy accounting to a Whopping 95 % of the total enterprises. So, it is no wonder the Government and Dubai SME emphasize on creating a conducive environment for Dubai SMEs to strengthen the 400,000 SMEs established in UAE.
Dubai Expo 2020 and Dubai SME will work closely to develop and promote SMEs in alignment with the vision of the Expo, which is, Mobility, Sustainability and Opportunity. Dubai Government is working steadfastly to strengthen its Infrastructure, support developments and encourage SMEs to gear up for Expo 2020.
Dubai Expo and Dubai SME have partnered to create a level playing field for the SMEs and support the SMEs with multitude support services. For example, Dubai Expo 2020 and Dubai SME are holding a workshop to help SMEs to create and win contracts to make licensed products for Expo 2020. Dubai SME states that they expect visitors to buy more than 5000 types of Expo branded products.
Expo 2020 will create endless opportunities for SMEs, attract inbound investment, endorse important sectors like leisure & hospitality, real estate &construction, transportation etc. SMEs will do good by capitalizing on the various opportunities to get a steadfast positioning in the market by scaling up themselves in alignment to the dynamism the market needs.
SMEs will do well by
- Developing Dynamism on par with the global standards.
- Competitive pricing and Brand Positioning.
- Improving client relationships and work on Brand Loyalty
- Take conscious efforts to attract customers both locally and Internationally.