Khalifa Fund for Enterprise Development (KFED) hosted recently a forum as part of its efforts to promote domestic SMEs’ growth and implement plans to help foster an entrepreneurial spirit in the country.
HE Abdullah Saeed Al Darmaki, CEO of KFED, said that the Khalifa Fund plays a pivotal role in demonstrating the UAE’s support of the SME industry, adding that the ‘Strategic Alignment Forum’ is in line with the UAE’s strategy aimed at strengthening the SME sector, to ensure its active participation in the country’s sustainable development.
The forum was attended by delegates from the Department of Economic Development in Abu Dhabi; the Abu Dhabi Chamber of Commerce and Industry; Dubai SMEs; Sharjah Entrepreneurship Centre (Sheraa); Ruwad Establishment; Sandooq Al Watan; and the Emirates Development Bank.
At the session, participants discussed strategies and explored various projects and practical steps designed to produce and support a generation of efficient entrepreneurs capable of contributing to the country’s growing economy. The attendees also explored ways to establish joint programmes and initiatives, facilitate the exchange of experiences and minimise waste in financial and human resources. The forum also served as a platform to create awareness about KFED’s projects and other similar initiatives of different entities in a bid to support Emirati entrepreneurs and the local SME sector, as well as promote a positive communication and networking mechanism within the industry.
KFED outlined its strategic projects for 2018 and discussed ways of joint implementing the plan to achieve the set objectives, which include fostering a culture of entrepreneurship in the country and encouraging innovation and sustainable growth within the SME community in support of the UAE’s social and economic development. KFED is also working towards creating a suitable business environment and providing financing solutions and integrated programmes for entrepreneurs.
KFED aims to urge government, semi-government, and private entities to grant privileges for the SMEs that contribute to their development and success. Khalifa Fund has concluded several agreements with many government and private entities for the benefit of local entrepreneurs and SMEs aimed at increasing the efficiency of their projects and enhancing their integration.