(MENAFN -Khaleej Times) the uae recognises the importance of regional and international cooperation, through the exchange of experiences and know-how in order to achieve wealth
Shaikh nahyan touring the exhibition of smes projects on the sidelines of the international network for smes in abu dhabi on wednesday. — supplied photo
Shaikh nahyan bin mubarak al nahyan, minister of culture, youth and community development, inaugurated the 10th annual forum and meeting of the international network for small and medium enterprises (insme), organised by the khalifa fund for enterprise development, under the theme ‘investing in innovation: building a sustainable knowledge-based economy.’
Shaikh nahyan, in his opening speech, welcomed the attendees: “this forum highlights, the success between ideas and knowledge and the initiative to convert these ideas and knowledge into practical applications leading to a successful business. the forum focuses primarily on the role of creativity, achieving economic growth, education and training in preparation for new generations to enable them to contribute to the economy by providing a national regional and global environment.”
The minister also stressed that the uae recognises the importance of regional and international cooperation, through the exchange of experiences and know-how in order to achieve wealth.
He said: “we recognise quiet well that innovation, courage, flexibility and the ability to plan, to acquire knowledge, being ethically committed, having the maturity, as well as communicating with stakeholders and being persistent are all essential elements in realising a successful competitive market.” after his speech, shaikh nahyan inaugurated the exhibition which showcased projects funded by the khalifa fund.
Khalifa fund sanctions dh671m
The khalifa fund for enterprise development has sanctioned dh671 million since its inception to promote the entrepreneurial skills of emiratis. the fund’s financing has benefited more than 670 pioneering uae entrepreneurs, one third of them women.
Hussein jassim al nowais, chairman of the khalifa fund for enterprise development in his speech at the tenth annual forum and meeting of the international network for small and medium enterprises said that the essence of entrepreneurship is innovation and experimentation, and learning from the experiences of others, which is exactly what such an event provides for young uae
He said the substantial subsidies given to the sme sector were paid off and has succeeded in the development of the sector in a short time, where it provides 86 per cent of jobs and contributes to about 60 per cent of gdp.
Regarding the role played by the khalifa fund during his career, al nowais stated that the fund has managed to spread the culture of entrepreneurship and encourage the various sectors of society to embrace the concepts of creativity, excellence and innovation, through organising 375 specialised training courses, which benefited about 5,300 uae nationals.