Sharjah Foundation for Entrepreneurship concludes its participation in the Small and Medium Enterprises Exhibition in Abu Dhabi

MEDIA IN \ SHARJAH 01-05-2019 / WAM

The Sharjah Foundation for Entrepreneurship (ROWR) today concluded its participation in the Small and Medium Enterprises Exhibition held in Abu Dhabi on 29-30 April at the Abu Dhabi National Exhibition Center (ADNEC), organized by the National Program for Small and Medium Enterprises (SMEs) at the Ministry of Economy.

The participation of supported projects from Ruwad in the exhibition underscores the importance of the support provided by the Foundation to small and medium-sized national projects, especially in view of the limited share of the total loans to banks at the present time. Has been awarded directly or through banks during the past year to AED 4,150,000.

He pointed out the importance of direct and indirect financing services provided by the Foundation for projects in addition to training and consultancy services that raise the level of successful preparation of the feasibility of projects in order to enhance their chances of obtaining appropriate funding and thus push these companies to take their important role in the development of the state economy.

He pointed out that SMEs are among the most important locomotives of economic growth in the UAE. The Ministry of Economy’s latest estimates indicate that the contribution of the SME sector to the country’s GDP is about 53 percent in 2018. It stimulates economic diversification policies, Of the necessary job opportunities, as well as their contribution to a large share of the total value added and providing affordable goods and services to a large segment of low-income people.

The Abu Dhabi Small and Medium Enterprises Exhibition (SME) also provides a key platform to enhance opportunities for cooperation between companies and banks in project financing and to highlight the challenges facing corporate finance and ways to overcome them.

On the sidelines of the exhibition, the Director of the Foundation met with a delegation of representatives of Etihad Airways to discuss ways to support the entrepreneurs from the members of the Foundation and visited the Chairman of the Board of RAK Chamber and the Chairman of the Higher Committee of Saud Bin Saqr Foundation for Youth Development Projects and the Senior Manager of the Project Follow- “Pioneers” to view member projects and share experiences in the field of pioneer support.