The first initiative is to pay the dues of small and medium enterprises that supply services and goods to government agencies, within 30 days instead of 90 days, provided that the repayment period does not exceed 10 Days for members of the Mohammed bin Rashid Foundation for the Development of Small and Medium Enterprises, and the government, according to the initiative, ranks the establishments that are entitled to receive its dues within 30 days, and this initiative is expected to provide additional liquidity of 1.6 billion dirhams annually when paying the dues. The second initiative aims to provide greater financial liquidity to small and medium enterprises, while ensuring greater opportunities for these enterprises to participate in supplies to government agencies, and to reduce the value of the primary insurance for small and medium enterprises, to range Between 1 and 3% instead of 2 and 5%, in order to motivate it to continue to supply to government agencies, and under this initiative, the minimum primary insurance was reduced from 40 million dirhams to 20 million, and this includes 80% of small and medium enterprises, while it was reduced The maximum limit is from 100 million dirhams to 60 million, which includes 20% of the facilities.
The third initiative to stimulate economic growth related to final insurance for guaranteeing the performance of small and medium enterprises in government projects, which includes reducing the final insurance rate, known as performance insurance, for these establishments from 10% to 5% for all supplies.Within the framework of this initiative, the Dubai government intends to prepare a classification for the establishments that have the right to reduce performance assurance to 5%, in addition to linking the mechanism for returning part of the final insurance to the percentage of supplies made by the establishments, while increasing the contribution of small and medium enterprises in the gross domestic product, and the focus of the initiative is The fourth is to allocate 5% of government capital projects to small and medium enterprises.
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