Khalifa Fund joins Adnoc in-country value strategy to support entrepreneurs, SMEs

Abu Dhabi / Emirates Business

The Khalifa Fund for Enterprise Development (KFED) has joined a workshop on the implementation of Abu Dhabi National Oil Company’s (Adnoc) new in-country value (ICV) strategy that was launched to help stimulate socio-economic value, promote locally-made content and products, and nurture government and private partnerships in the UAE.
The participation was in keeping with Fund’s vision to be at the forefront of promoting entrepreneurship among UAE citizens and enhancing the competitiveness and growth of small and medium enterprises (SMEs). During the workshop attended by a number of entrepreneurs, the two parties agreed to reinforce their efforts to drive socio-economic growth in the country, exchange knowledge, and provide additional opportunities for young citizens in various sectors.
The workshop complemented Khalifa Fund’s mission to maintain the strong relationships with government, semi-government, and private entities to enlist their support for SMEs’ development and success. Thus, opening new business opportunities and promoting cooperation according to the UAE’s vision and strategy to spread the culture of entrepreneurship and encourage innovation in young and adult Emiratis as they are the future makers.
Ahmad Khalfan Matar Al Rumaithi, Senior Manager, Entrepreneurship Development — Support & Membership at Khalifa Fund, said the strategic cooperation with ADNOC creates a lot of growth opportunities for local SMEs and generates employment opportunities for UAE citizens in the private sector which is expected to contribute in the country’s economic growth and diversification.