Sunday 28 November 2021 - 9:38:11 am

Sharaka supports private sector in Abu Dhabi settle undisputed payments with public sector


ABU DHABI,11th July 2021 (WAM) - The Department of Economic Development (ADDED) announced the settlement of all eligible claims for government payments due to the private companies registered on the Sharaka platform by end of Q1 2021.

Sharaka is an initiative of the Ghadan 21 Abu Dhabi government development accelerators programme.

Mohamed Ali Al Shorafa, Chairman of ADDED, emphasized the Abu Dhabi government’s desire to speed up the process of settlement and payment of the private sector companies’ dues that are submitted through the "SHARAKA" platform.

Following the Abu Dhabi Executive Council’s decision to speed up the payment process, as part of the Economic Stimulus Package announced last year, all eligible dues between March 2020 and March 2021 were cleared within 15 days instead of 30.

He added that the platform has dedicated staff and will provide long-term support for private sector partnerships with the public sector. This will increase the private sector’s contribution to the emirate’s GDP and enhance Abu Dhabi’s status as a preferred hub for business and investment.

Mohamed Ali Al Shorafa commended the efforts of government and semi-government entities to promote and strengthen the role of the "SHARAKA" platform in strengthening the role of the private sector. By supporting the settlement of undisputed payments, "SHARAKA" enhances private sector growth by improving ease of doing business in the emirate, which in turn helps motivate the private sector’s role as a driver of Abu Dhabi’s local economy.

He indicated that the Department is currently working with the Economic Collaboration Committee to study any challenges facing the private sector. The goal is to develop direct solutions, as part of the Abu Dhabi development accelerators programme "Ghadan 21" and to alleviate the burden imposed by the COVID-19 pandemic since early 2020.

The Sharaka platform has contributed to supporting private sector companies in a number of vital sectors, such as infrastructure, safety, tourism, culture, health, community development, environment, education and manufacturing.

Application for claims can be submitted through the SHARAKA platform via ADDED’s website link: https://sharaka.added.gov.ae, or through a personal visit by the company’s owner or his designated representative to the Abu Dhabi Business Centre at ADDED’s headquarters.

To submit an application via the SHARAKA platform, there must be a direct contract between the company and the concerned entity excluding a third party or subcontractors. Applications cannot be submitted for cases that have been referred to courts. Each application is reviewed within one working day and companies will be contacted to complete any added requirements. Payments are prioritised according to several criteria including the payment delay period and any risk factors.

 

WAM/Hassan Bashir