Hamdan bin Mohammed: The integration of roles between the public and private sectors has resulted in an exemplary business environment that attracts investment

Launching the "Venture Fund to Support Startups" in Dubai with a capital of 370 million dirhams

Hamdan bin Mohammed while presiding over the Executive Council meeting yesterday at Umm Suqeim Council.

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His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, approved the launch of the "Venture Fund for Ventures" with a capital of about 370 million dirhams, with the aim of promoting Dubai's economic growth and consolidating its position as a global center for financial technology (fintech) and innovation in The investment capital, with effect from June 2022.

This came during His Highness presiding over the Executive Council meeting yesterday at Umm Suqeim Council, where His Highness said: “In accordance with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, regarding supporting economic diversification for sustainable growth. We launched the (Venture Fund for Emerging Ventures) under the supervision of the Dubai International Financial Center .. We possess the ingredients and provide opportunities .. And Dubai will always remain the ideal choice for the launch of those with great ambitions and creative ideas.

His Highness the Crown Prince of Dubai added: "Dubai is the city of entrepreneurs and daring investors. Thanks to the integration of roles between the public and private sectors, a model business environment has been developed with regulatory frameworks and a flexible legislative structure in parallel with the provision of various financing tools, thus making Dubai the most suitable city for investment, attracting the attention of investors From different parts of the world to the endless new opportunities that it presents every day for growth and success within many of the leading strategic sectors.”

The "Bold Fund for Emerging Ventures", which is supervised by the Dubai International Financial Center and contributes with 15%, will create an integrated system within a variety of financing facilities suitable for companies, represented by providing a capital of approximately 370 million dirhams to finance small and medium emerging projects, and ensure their development from Dubai and its launch to global markets, which serves to develop and enhance a stimulating environment for the establishment of funds or similar financing instruments.

Within the framework of its strategic plan, the fund will contribute about three billion dirhams to the emirate’s domestic product, during its eight-year working period, which can be extended for two additional years. A regional hub for entrepreneurship, fintech, innovation and venture capital, and a magnet for investors and entrepreneurs from around the world.

In addition, the Executive Council approved during the meeting the establishment of a center concerned with institutional care for the most vulnerable groups to provide shelter services and bridge them through permanent or temporary institutional care that works to improve the quality of life for individuals who are unable to rely on themselves, within integrated programs and services that ensure the provision of institutional care services According to approved quality standards.

The center will provide its services to those who are unable to take care of themselves, such as people of determination, senior citizens, the elderly and those deprived of adequate family care, in addition to children subjected to abuse, neglect or exploitation, so that they are provided primarily with rehabilitation, personal care, correction and repair services 24 hours a day. .

Under the approval of the Executive Council to establish the center, an executive team was formed, led by the Community Development Authority and the membership of the concerned authorities, to develop a detailed implementation plan, interim priorities, detailed budgets, and support necessary for implementation and temporary solutions to the completion of construction works, taking into account all specialized requirements, including social and medical.

Dubai Crown Prince:

• “Dubai is a city of entrepreneurs and daring investors, and small and medium companies are a force driving the economic growth of the Emirate of Dubai.”

• "We possess the ingredients and provide opportunities... and Dubai will always remain the ideal choice for the launch of those with great ambitions and creative ideas."

• 3 billion dirhams, the expected direct contribution of the fund to Dubai's GDP, and the provision of 8000 job opportunities for specialized talents.

• "Venture Finance" boosts Dubai's economic growth and confirms its position as a global center for financial technology and investment capital

• "Dubai International Financial" supervises and manages the fund and will contribute to it by 15%... and the fund will be activated as of June 2022.

Appointment of Amer Sharif as CEO of the Dubai Academic Health Corporation

Dubai ■ Emirates today

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of the Emirate of Dubai, issued Council Resolution No. (30) of 2022 appointing the Director of the Mohammed bin Rashid University of Medicine and Health Sciences, Dr. Amer Ahmed Sharif, as Executive Director of the Dubai Academic Health Corporation, In addition to his original duties.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Board of Directors of the Dubai Academic Health Corporation, stressed that Dr. Amer Sharif is one of the distinguished national competencies in the field of health care and medical education. His Highness said: “Dr. Amer has extensive experience that makes him worthy of this role, which requires an innovative leader who contributes In developing the health system in Dubai to become one of the world’s leading academic health systems, and we are confident that with the work team, he will be able to achieve the institution’s vision (together we advance human health).”

In addition, His Highness Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, Vice Chairman of the Board of Directors of the Dubai Academic Health Corporation and Chairman of the Supreme Committee for Crisis and Disaster Management in Dubai, said: “I worked closely with Dr. Amer through his position as head of the Control and Control Center to combat the Corona virus in Dubai. I felt for myself the extent of his efficiency and his distinguished work style to unify the efforts of various sectors and make decisions based on scientific evidence, which made Dubai a model in the global response to the pandemic.

We are confident that his competence and commitment to community service will enable us to set new global standards for healthcare in Dubai.”

For his part, Dr. Amer Sharif expressed his deep thanks and appreciation to His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, for honoring this appointment and gratitude for the trust of His Highness, saying: “I am honored to have been chosen as Executive Director of the Dubai Academic Health Corporation and I hope to be up to this precious trust.

I look forward to working with the Foundation's team to improve the health and well-being of members of the community and establish Dubai's global reputation as a healthcare destination.

Our core value (Patients First) will be the main principle of our work, where healthcare, scientific research and medical education are integrated under one umbrella to provide the best outcomes and results for patients and society.

The integration of innovation and discovery is fundamental to achieving this ambition, and we will work to develop effective partnerships to accelerate the achievement of the desired goals of community health.”

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