Media ININ Economy We Trust
Media In – Abu Dhabi 19 June 2018 /
The Khalifa Fund for Enterprise Development has signed a Memorandum of Understanding (MoU) with Majid Al Futtaim Hypermarkets to provide support to IFAD-supported suppliers providing fresh food, groceries, light appliances, clothing and electrical appliances to the Carrefour chain.
The MoU comes within the framework of joint and constructive cooperation between the two parties and as the Khalifa Fund seeks to provide the best facilities for UAE projects and secure access to new markets through agreements signed with leading suppliers in the local market.
Under the Memorandum, Majid Al Futtaim Hypermarkets will select suppliers and goods, review suppliers’ business, provide them with the necessary training and awareness, and provide a department for each supplier with strict hygiene and strict procedures for the safety of products offered by the company in its stores. The suppliers shall be the official registered agent of the goods and the suppliers shall bear all responsibilities and compensation, together with the provision of permanent insurance policies.
The MoU also stipulates that Majid Al Futtaim Hypermarkets will receive reduced discounts from suppliers as well as the number of stores to be distributed as deemed appropriate.
Ahmed Khalfan Matar Al Rumaithi, Senior Manager, Projects Monitoring Department, Khalifa Fund, said: “The MoU aims to enhance joint work with one of the leading brands in the management and operation of shopping malls in the UAE by providing facilities for projects supported by the Fund, He stressed the keenness of the Fund to establish strong relations with various local economic institutions, which ultimately contribute to support the local economy and stimulate the commercial movement in the country.
