NBAD Launches Award to Support Manufacturing SMEs

The National Bank of Abu Dhabi (NBAD) has launched Star of Manufacturing Award as part of its ongoing efforts to support the small-and medium-sized enterprises (SMEs) and promote entrepreneurship in the UAE.

NBAD Star of Manufacturing Award, one of the key award categories in the Stars of Business Awards 2014 event, is presented by NBAD in association with SME Advisor ME. The Awards event follows on from the “SME Beyond Borders” summit which will be held in Dubai on November 30th and December 1st.

Both the Awards and Summit is the result of NBAD’s strategic partnership with SME Advisor ME, which engages at multi-level with the SME sector – print, online, thought leadership, and recognition - across the UAE, and in the near future, in other core markets of Oman, Egypt, Kuwait and Jordan, “We see the Manufacturing sector as a tremendously important catalyst in the growth and diversification of the economy which is in line with Abu Dhabi 2030 vision,” said Abdulla Al Otaiba, Senior Managing Director & Group Head of Global Retail and Commercial Banking at NBAD.

“This award aims to promote best practices and recognise the success of SME businesses that contribute greatly to the health of the economy. We are also fully committed to the larger SME space, which we see as a powerhouse of economic change and rich with growth potential”. SMEs contribute more than 60% to the UAE’s nominal GDP and provide 86% of all private sector employment.

NBAD Star of Manufacturing Award recognises the achievements of manufacturing businesses that have made an exceptional contribution to the UAE economy through leading-edge manufacturing technology, product innovation, notable productivity and strong levels of revenue. The Award is open to businesses with up to 500 employees and an annual turnover not in excess of USD 50 million.

The Gold & Silver winners in this category will receive an executive business programme from New York Institute of Technology in Abu Dhabi, a governance programme from Hawkamah Institute for Corporate Governance in Dubai and advertising packages in CPI group of publications. Additionally, the Gold winner will receive an expense paid trip to Hannover Messe Trade Fair in April 2015.

In addition to NBAD Star of Manufacturing, the Stars of Business Awards recognises 21 business awards including high performing Emirati achievers in the categories of ‘Admirable Woman Entrepreneur of the Year’, ‘Emirati Entrepreneur of the Year’, and ‘Emirati first time Entrepreneur’ , and notable achievements in the fields of retail, trade, real estate, technology, hospitality, marketing and event, among others.

The nominations are scientifically assessed and judged by an expert panel of highly respected specialists across sectors and disciplines.

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