Mohammed Bin Rashid Establishment for Small and Medium Enterprises (SME) has announced that its members have received government procurement contracts in Dubai and financing of AED 1.2 billion during the past year, with the full support and assistance of the Foundation.
The remarks came on the sidelines of the closing ceremony of the Palace Pioneers Competition yesterday in Abu Dhabi, in the presence of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, and the Duke of York, Prince Andrew, where four Emirati entrepreneurs were honored.
Members of the Foundation
Abdul Baset Al Janahi, Executive Director of Mohammed Bin Rashid Establishment for Small and Medium Enterprise Development, revealed that members of the Foundation received government procurement contracts in Dubai and AED 1.2 billion in financing last year, with the full support and assistance of the Foundation.
Al Janahi said in a press statement on the sidelines of the closing ceremony of the competition of palace pioneers in its third Emirati edition organized by Khalifa Fund for Project Development, that these contracts covered a wide variety of areas, mainly trade, aviation, infrastructure and tourism, pointing out that 60% of these contracts were in the trade sector Specifically.
He pointed out that the Foundation currently has 7000 members, and has recently set up five business incubators, which have been licensed and supported by the Foundation to provide support and assistance to small projects, pointing out that the Foundation is keen to provide all forms of support and facilities for small entrepreneurs in particular, including education and training services, and encourages Enterprise Entrepreneurs who have new ideas on turning them into projects.
Programs and services
He stressed that no country in the world provides programs, services and facilities for small and medium enterprises such as the UAE, especially Dubai, where «Mohammed bin Rashid Foundation», for example, offer free licenses for small projects for five years, without paying the owner of any fees for any A government agency to help meet the challenges facing projects in the first phase of their establishment.
Al Janahi pointed out the importance of events such as the “Pioneers of the Palace” competition, where it helps small entrepreneurs to present their projects and ideas to local and international personalities to help their success, which provides them with distinct opportunities to hold entries and acquire new experiences and skills.
Bank guarantees
For her part, the acting CEO of Khalifa Fund for Enterprise Development, Moza Obeid Al-Nasseri, revealed that «the fund has reached an agreement recently, and has already begun its implementation with a group of government companies and chambers of commerce, provides for the exemption of projects funded by the Fund from the bank guarantees necessary to allow entrepreneurs “This is a large amount that is part of the tender's value.
Nasseri added that it was agreed with government companies, to give the owners of projects member of the Fund, a priority in obtaining tenders, in addition to reducing some government fees, and the establishment of training workshops to help them to submit tenders.
She pointed out that about 80 entrepreneurs submitted in the first and second phases of the competition in Abu Dhabi and Dubai, and 12 contestants were selected for the third stage, and four of them were selected yesterday to apply in the Gulf version to be held in Bahrain in November, in addition to qualify to participate in the fourth version of the program The "Palace Pioneers", which will be held at the St. James Palace in London in December.
4 entrepreneurs
Four Emirati entrepreneurs were crowned by Khalifa Fund for Enterprise Development at the closing ceremony of the 3rd Emirati Palace Competition at the Emirates Palace Hotel in Abu Dhabi yesterday.
The competition was won by the Ariam project, which specializes in designing a cooling suit for workers facing high temperatures during their work. The Arabic project is an integrated program to teach Arabic online for children and offers a variety of stories, books, language guides, and other materials that help the child learn and master the Arabic language. Doctorsae.com, which provides users with information about all health entities within the UAE, has also won the website where patients can search for doctors, hospitals and pharmacies smoothly and quickly. The Rafiq application connects homeowners with licensed maintenance and decoration providers in the country.