Mohammed bin Rashid Establishment for Small and Medium Enterprises (SME), one of Dubai's economic institutions, has strengthened its partnership with Etihad Cooperative by renewing the cooperation agreement aimed at supporting the presence of its members in the retail sector and providing the necessary facilities to ensure their products are displayed in the branches of the cooperative spread across the Emirate of Dubai.
According to a statement issued yesterday, the new memorandum of understanding was signed by Abdulbaset Al Janahi, CEO of Mohammed Bin Rashid Establishment for Small and Medium Enterprises, and Khalid Al Dhilasi, CEO of Union Cooperative.
The memorandum includes facilities provided by the Union Cooperative to the members of the institution, most notably the allocation of 10% of the shops in the new sites to the members of the institution in the case of the number of shops 10 and above, in addition to granting support 25% of the annual rent for the first three years when they rent shops or «counters »In the commercial centers or branches of the cooperative, also provided a variety of support by 50 to 100% with priority in a range of services and other facilities.
Al Janahi said: “We are delighted to renew our partnership with the Union Cooperative, launched since 2015, which is one of the most prominent supporters of national small and medium enterprises, where members of the Foundation benefited from the privileges available in various branches of the Union Cooperative, distributed on a number of consumer products such as food and household products , Expecting «growth in the number of beneficiary members and financial transactions».
Al-Janahi affirmed the Foundation's keenness to provide moral and material support, in addition to providing privileges that give motivation to the members of the Foundation to use the surplus capital in the expansion management processes such as increasing the number of employees, or raising productivity, and the purchase of new equipment, and other organizational matters.
For his part, Al Falasi stressed that the cooperative is seeking to renew its partnership to support national institutions, enhance its competitiveness with other institutions in the retail sector, in addition to overcome the challenges facing them, and contribute to raising the level of productivity and promotion of small and medium enterprises, and thus contribute to the GDP of the Emirate of Dubai and the UAE in general And contribute to advancing a sustainable economy.
Al-Falasi said, "The cooperative is keen to support national projects in terms of social responsibility, in cooperation with Mohammed bin Rashid Foundation for the development of small and medium enterprises through the provision of facilities and services and discounts, and priority in contracting with members of the Foundation."
Value of transactions
The value of transactions between Mohammed bin Rashid Establishment for Small and Medium Enterprises and the Union Cooperative during the last year amounted to 89 million and 948 thousand dirhams, while it is expected that the value of transactions by the end of this year about 113 million and 622 thousand dirhams.