Khalifa Fund hosts forum to bolster country’s SMEs

Abu Dhabi / WAM

The Khalifa Fund for Enterprise Development (KFED), in collaboration with Mohammed Bin Rashid Establishment for SME Development, Dubai SME, successfully held the second Tawasul Forum for 2018 in Dubai in the presence of Khalifa Fund’s members and SMEs entrepreneurs, as well as government and private entities.
The forum is part of a series of qualitative initiatives organised by the fund to promote and encourage entrepreneurship, foster a spirit of innovation and support SMEs in the country.
The forum, held in the Business Village Building at Dubai SME, included discussions on projects funded by the Khalifa Fund’s presentations aimed at strengthening existing networks and exchanging ideas to bolster SMEs in the country. Companies also showcased their experiences and success stories with the participants, to enhance communication and contribute to an innovative society focussed on excellence and innovation.
Abdulla Al Darmaki, CEO of KFED, said, “The Khalifa Fund is keen to help entrepreneurs build business relationships with various institutions from within and outside the country, to complete its journey of leadership based on its vision of enhancing the competitiveness of SMEs and helping them grow, in line with the fund’s strategy in strengthening entrepreneurship and promoting creativity among the community, as well as creating an encouraging environment leading to the success, sustainability and competitiveness.”
Al Darmaki stressed the need for cooperation and collaboration between various entities to ensure continued support for SMEs and to increase the administrative and technical efficiency of the entrepreneurs. He also pointed out the need to enrich the knowledge base of the entrepreneurs supported by the fund, enhance their expertise and skills and identify and address their problems.
The forum consisted of presentations by various government and private entities as well as SMEs financed and supported by the fund, on several relevant topics and sectors.
Adnoc conducted a presentation for suppliers to familiarise them with the In-Country Value, ICV, strategy to local products and on adopting their contributions and reviewing their performance in this regard. The presentations also included strategies for skill development, raising awareness about entrepreneurship and innovation, tips to identify and recognise tender categories where participation could be limited only to local SMEs as well as a clear overview of Adnoc’s future expenses to encourage suppliers to enhance their local investments.
The Dubai Expo 2020 team reviewed the relevance of the online marketplace and its features which provide a free platform to encourage contracting opportunities and gain access to a local and international supplier base, which also facilitates consumer purchases and boosts efforts to search for products and services in the traditional market. The presentation also included an overview of the event, an exposition of the expo’s international exhibitions’ history and a detailed description of Expo 2020 Dubai’s objectives.
The presentations were followed by an open discussion session organised within the framework of the forum, to facilitate improved interaction between the fund and the various governmental and private entities and entrepreneurs.
The forum provided an ideal platform for them to acquaint themselves with the latest programmes and initiatives launched by the fund, identify various participating entities contributing to the support of national projects and instil a culture of entrepreneurship that encouraged them to realise their aspirations and dreams and turn them into reality. This promoted the social and economic development of the UAE by providing the projects with all the facilities and creating an environment conducive to the growth and development of their businesses.

Leave a Reply

Send this to a friend