Introduction
The Abu Dhabi government recognizes the importance of Startup business in spreading the culture and thought of self-employment, the spirit of entrepreneurship, initiative and innovation, and a contributing element to the economy and its diversity, and enhancing competitiveness and innovation in any economy. This support led to the growth of this sector and the increase in the issuance of commercial licenses by 40% in 2019 compared to 16% in 2018.
Economic incentives
In the interest of good leadership in the Emirate of Abu Dhabi to stimulate economic growth and support startups, it issued a package of encouraging economic incentives in government procurement. Accordingly, the Department of Government Support issued a package of economic incentives in Circular No. (5) of 2020 regarding Economic Incentives in government procurement. The incentives includes the following items:
- To stop collecting tender guarantees to reduce the financial burden on companies, during the year 2020.
- Exempting startups from a guarantee of good implementation for projects that amount to (50) million dirhams, during the year 2020
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.
