| 23 April 2024, Tuesday |

Dubai Economy partners with Amazon to stimulate growth of local SMEs

Dubai Economy and e-commerce company Amazon are collaborating on a new initiative to support the growth of local start-ups and small and medium enterprises.

The program will support DED Trader license holders interested in growing their online presence, Dubai’s Department of Economic Development said in a statement on Sunday.

New e-learning courses will be provided to license holders through the Amazon Seller University. The e-commerce giant will also host a dedicated store front on to showcase products offered by local traders, the statement said.

Dubai Economy aims to accelerate the “growth of e-commerce initiatives and promote technology integration” within the local business community, Omar Al Mehairi, director of development and follow-up in Dubai Economy’s Business Registration and Licencing arm, said.

The Covid-19 pandemic and the movement restrictions put in place to curb its spread has shifted consumer habits in the UAE, spurring a preference for online shopping and boosting e-commerce sales.

Almost 70 percent of UAE respondents to a joint Visa, Dubai Police and Dubai Economy survey in June last year had reduced spending in physical stores and increased spending online.

In July, Dubai Economy said it experienced an 83 per cent increase in the number of DED Trader licences issued in the first half of 2020 as more companies were set up to cater to growing demand.

“We have faith in the potential and capabilities of start-ups in Dubai … through such collaborations, we aspire to accelerate their entrepreneurial journey with all the tools and retail expertise we have to offer,” Ronaldo Mouchawar, vice president of Amazon Middle East and North Africa, said.

Once Dubai-based businesses are registered to sell on, they can also access the company’s account managers who will offer insights into how to grow their business.

Third-party sellers – most of whom are SMEs – now account for more than half of everything sold across Amazon stores globally.

The US-based e-commerce giant last year increased net profit by 84 per cent to $21.3 billion as revenue grew 38 per cent to $386.1bn.

  • The National News