A new initiative has been launched to boost business opportunities for GCC-based contractors in the local, regional and international markets.
The scheme, the Dubai Subcontracting and Partnership Exchange Program (Dubai-SPX), is being overseen by the Dubai Export Development Corporation (EDC), the Gulf Organisation for Industrial Consulting (Goic), and the United Nations Industrial Development Organisation (Unido).
It is designed to act as a bridge between main- and sub-contractors, pairing up those that require a particular service with those that have the capacity to deliver such a service (see below for how-to).
“We work with anybody who wants to be a sub-contractor,” Unido investment promotion unit chief Mithat Kulur said. “We make everybody available for selection.
“The SPX makes sure that the information provided to potential buyers is accurate, because the SPX stands behind that information.”
Initially a small subscription fee may be charged for businesses to be listed, Goic industrial promotion unit head Ismail Elshafei said.
Goic assistant secretary general Dr Lulwa Al Misned explained that Dubai-SPX joins a wider network of similar schemes across the Gulf that list firms from a wide range of sectors including metal works, building materials, industrial services and petrochemicals.
“We have 400 firms listed from Dubai and 200 from Qatar,” Al Misned said. “We are looking at 600 from Saudi Arabia, 200 from Bahrain and a number of firms from Oman and Kuwait.
“In the next 18 months we will have 10% of the total industrial establishment in the GCC listed.”
The move comes as part of Dubai and the wider region’s goal of diversifying its economy into a broad range of sectors. Dubai-SPX will also push business relationships between GCC companies and other regions, including the EU, Africa and Central Asia.
A number of SPX systems have been successfully established globally, with over 40 units in operation in over 30 countries.
“The UAE has taken several measures to ensure progress increases across different sectors,” said Department of Economic Development deputy director general Khalid Al Kassim.
“We aim to positively shape the local economy to achieve high growth rates in the future.”
How To: The Dubai-SPX
- A main contractors will contact Dubai-SPX through various channels, including an online portal, with details of its requirements.
- A team from Dubai-SPX will search its database for potential subcontractors after receiving the initial enquiry.
- Subcontractors will be verified to ensure they have the capability required and Dubai-SPX will schedule a meeting for both parties.
- Both parties will report back to Dubai-SPX on the success of the pairing. From here it is intended that long-term partnerships will be built.
- Regular networking opportunities will also be arranged for interested parties.