Media ININ Economy We Trust
12-03-2019 Media in\ Dubai
Mohammed Bin Rashid Establishment for SME Development, one of Dubai’s economic institutions, has announced that it will support 4,227 Emirati entrepreneurs in 2018, up 32 percent from 2017.
The institution has played a vital role in providing a package of incentives and facilities amounting to 101 million, growing by 63 percent compared to 61.8 million dirhams in 2017.
The Foundation also provided training services and development programs to 5,767 entrepreneurs, up 163 per cent from 2017. A total of 175 national companies established their business in Dubai through the support provided by the Foundation.
The results show the company’s key role in translating leadership orientations in supporting youth entrepreneurship, stimulating entrepreneurship and competitiveness in small and medium-sized enterprises to improve their productive capacities and drive them to achieve further growth in support of Dubai’s economy and the overall economy of the UAE.
Abdul Basset Al Janahi, Executive Director, Mohammed Bin Rashid Establishment for SME Development, said: “The Foundation has adopted a strong strategy since its inception in 2002. It is a translation of the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The citizen is part of the economic development and the real asset of the State. In this regard, the Foundation strives to support entrepreneurship and develop the SME sector in Dubai, which is the backbone of the emirate’s economy.
Al Janahi emphasized the role of the Foundation in promoting entrepreneurship competitiveness through its clear and explicit policy in supporting and developing the SME sector in Dubai and making Dubai a global hub for innovative SMEs. It is the ideal platform for entrepreneurship and partnerships for sustainable growth and competition for global reach.
He pointed out that the Mohammed Bin Rashid Establishment for SME’s financial support provided financial support to 18 projects in 2018 with a total of 14 million dirhams, an increase of 147 per cent over 2017. He stressed that the subsidized projects are characterized by the talent and quality of service offering to compete With its peers from international companies in the local market.
He added that the Foundation has been able to successfully enhance the services and facilities offered to entrepreneurs and promote their projects in the local market and neighboring markets at the level of the Gulf and the region, in addition to supporting the spirit of innovation and talents in the world of business and different age groups through training programs and development initiatives and financial support And the consultant for those wishing to enter the market with their new projects.
He pointed out that the Hamdan Center for Innovation and Innovation of the Mohammed Bin Rashid Establishment for the Development of Small and Medium Enterprises in 2018 served more than 38 UAE companies and a number of companies for brothers from the GCC countries, where the Center helped entrepreneurs to start and launch their projects in various sectors and help them to develop Incorporation strategies and help projects grow.
