H.H. Sheikh Saud bin Saqer Al Qasimi Member of the Supreme Council, RAK Ruler, has stressed on the importance of the vital role undertaken by Khalifa Fund for Enterprise Development in supporting the efforts of sustainable development in RAK through the support of typical and innovative economic entities.
The Ruler of RAK was speaking at the Reyada Forum organised by Khalifa Fund for Enterprise Development in RAK on Monday.
“The efforts exerted by Khalifa Fund in the field of enhancement and support of RAK local economy, have started to be fruitful whether through establishment of small and medium enterprises of added value run by Emiratis or through the efforts being exerted for spreading the values of creativity, innovation and entrepreneurship, which will have future impact on the enhancement of RAK knowledge economy,” he said.
Sheikh Saud added that the opening the Khalifa Fund for Enterprise Development Branch in RAK under the guidance of President His Highness Sheikh Khalifa bin Zayed Al and the directives of His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, has effectively contributed to the empowerment of UAE nationals in realising their investment ambitions and future enterprises, which would be positively reflected on betterment of their life and standard of living.
He called for youth motivation and encouragement to harness their talents and creative capabilities in harmony with the wise leadership approach aiming at empowerment of Emirati youth to fully contribute to the comprehensive development and activation of economic and commercial movement with nationals’ hands.
Sheikh Saud also opened the exhibition on the sidelines of the Reyada Forum at 10 enterprises existing in RAK funded and supported by Khalifa Fund have participated. He was briefed by the enterprise owners about the products and services they provide as well as the nature of support that they had received from the Khalifa Fund .
The ceremony was attended by Sheikh Ahmed bin Saqr Al Qasimi, Chairman of the Customs Department, the chairman of the free zone in Ras Al Khaimah, Sheikh Salem bin Sultan bin Saqr Al Qasimi, Chairman of the Civil Aviation Department. Sheikh Mohammed bin Kayed Al Qasimi, Chairman of Department of Economic Development in Ras Al Khaimah.
Hussein Jassim Al Nowais, Chairman of Khalifa Fund for Enterprise Development, said that Khalifa Fund during the last three years funded 44 enterprises of various sectors in RAK.
“A package of non-financial support services has been provided for ten other enterprises existing in RAK whereby raising the number of enterprises benefiting from the Fund services into 54 enterprises. Thus, the funded enterprises in RAK constitute 24% of the total enterprises funded by the Fund outside Abu Dhabi”, added Al Nowais.
He stressed the importance of spreading of the entrepreneurship culture and refinement of the UAE youth skills and knowledge in the field of investment. Al Nowais pointed out that Khalifa Fund has held more than 24 training courses in RAK of which 450 Emirate male and female cadres benefited, adding the training would contribute to the support and enhancement of the entrepreneurship culture among UAE nationals.
Obaid Al Nuaimi, Chairman of RAK Chamber of Commerce & Industry, said that the Global Economy nowadays is based on the Small & Medium Enterprises, pointing out that the number of small and medium enterprises operating in UAE has reached approximately to 300, 000 companies and more than 85% of the companies operating in UAE are under the umbrella of small and medium enterprises.
During the discussion session of the Reyada Forum, titled Entrepreneurship and Investment Challenges Encountering, Dr. Amna Khalifa, Chairperson of Ajman Women Entrepreneurs, said that women have been able and capable of entering the business sector side by side with men for building up a strong and prosperous economy. “You are undoubtedly aware that many successful establishments are managed by UAE national women who have been distinguished for hard working and diligence, hence their establishments are striking examples of success and creativity.” .
Source : WAM News Agency for United Arab Emirates
