Introduction
The Abu Dhabi Government encourages Emirati citizens to enter into the fields of investment and private business, and to provide all necessary means for qualification in order to become a businessman, owner of a project or an investment company that contributes to supporting the country's economy. The Emirati entrepreneurs are also an important element in the post-oil stage to complete the sustainable development process, so that an economic system will be build based on entrepreneurship, innovation and production.
Economic incentives
In the interest of good leadership in the Emirate of Abu Dhabi to stimulate economic growth and support startups, the Department of Government Enablement issued a package of encouraging economic incentives in government procurement. Accordingly, the Circular No. (7) of 2020 regarding Economic Incentives for Emirati Entrepreneurs includes the following items:
- Exempting Emirati entrepreneurs from submitting a bank guarantee for the bid bonds.
- Exempting Emirati entrepreneurs from submitting a bank guarantee for the performance bond, provided that the government entity reserves 5% of the value of each invoice due for a period of 3 months after the final delivery.
- Pay the dues of Emirati entrepreneurs within 15 days of the date of the bill.
How to benefit from economic incentives
To take advantage of these benefits in incentives according to Circular No. (7) of 2020 regarding Economic incentives for Emirati Entrepreneurs, the supplier must be registered. Please click on the link below to access the webpage explaining how to register to become potential supplier to the Entities of Abu Dhabi Government.
Did You Know
Target group: All holders of commercial licenses owned by 100% UAE nationals issued by the Department of Economic Development - Abu Dhabi (including partners).
Government agencies included in the incentives program: All government entities of the Emirate of Abu Dhabi.
Become a Registered Supplier
To take advantage of these benefits and incentives