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The Department of Economic Development and Khalifa Fund for Enterprises Development, organize the “Abu Dhabi Forum for SMEs-2010” next Tuesday

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The Department of Economic Development and Khalifa Fund for Enterprises Development, organize the “Abu Dhabi Forum for SMEs-2010” next Tuesday

Sunday, December 26, 2010
The Department of Economic Development in Abu Dhabi and Khalifa Fund for Enterprises Development, in cooperation with the Ministry of Economy are set to organize the Abu Dhabi Forum for SMEs 2010 .  Over 300 persons from various federal and local government entities private sector institutions and, companies, will participate in the event, which will be held, at Abu Dhabi Fairmont Hotel Bab Al Bahr next Tuesday.The forum will be open by H.E. Sultan Bin Saeed Al Mansoori, Minister of Economy who will deliver, the opening speech, which will highlight the most prominent features of the State's strategy to support SMEs, as well as the most important Articles of the new law expected to be issued next year.His Excellency Mohammed Omar Abdullah, Undersecretary, of the Department of Economic Development will deliver a speech, laying emphasis on the efforts of the Government of Abu Dhabi to provide a package of incentives in support of SMEs, in line with the objectives of Abu Dhabi Economic Vision 2030, which accorded great importance to these projects in achieving GDP growth especially in the industrial and tourism sectors.H.E. Dr. Ahmed Khalil Al Mutawa, Executive Director of Khalifa Fund for Enterprises Development, will address the Forum, shedding light  on the Fund's strategy, in the next phase for provision of funding for distinctive and innovative projects, which will add to the local economy and promote the Emirate’s surge towards the knowledge-based economy.Rashid Ali Al Zaabi,  the Executive Director of Planning and Studies Division, said that Abu Dhabi SMEs Forum -2010, comes at a time when these projects are nurtured and supported by the government, pointing out that the forum will focus on the financing and protectionist policies, Law and legislation, which are the dominant patterns of the support strategies adopted by many countries and different economies for furthering this vital sector.Al Zaabi said that the successful international experiences are characterized by the broad scope of support, along with contemporary economic and social realities, taking into consideration the distictiveness of each case. He explained that support strategies have recently witnessed a drift towards specific areas within SMEs, such as export capacity, technological capabilities and competitiveness of projects.Rashid Al Zaabi pointed out that through its initiatives and Strategies, the Department aims at  seeing EMEs play a leading role as a source of income diversification in the emirate, and meet a large part of domestic demand rather than relying on imports. SMEs are expected to be means of export development in addition to achieving full employment through the optimum utilization of capital, natural and human resources.Al Zaabi added that according to the directives of the Executive Council of the Emirate of Abu Dhabi, the Studies Directorate of the Department of Economic Development, carries out many studies and prepares reports on SMEs, including commercial and industrial activities, business environment and other related fields.  Al Zaabi also said that this Forum comes within the framework of the recommendations and findings that emerged from these studies, for activating and strengthening partnerships between stakeholders, through organizing of meetings and seminars for small and medium enterprises.During the opening session of the Forum, Mr. John Klan Plana, Head of the Investment and Technology Promotion Office of UNIDO” will make a presentation on the importance of SMEs in the world; and highlight initiatives offered by UNIDO to strengthen the role of these institutions in the development of national economies in various countries.The first session will discuss the opportunities and the possibility of financing SMEs. Mr. Ibrahim Al Mansoori, Deputy Chairman of Khalifa Fund, Abdul Baset Al Janahi, Chief Executive Officer of Mohammed Bin Rashid Establishment, Khaled Al Mugalid  from Sharjah Pilot Projects Establishment, Haitham Al Rifaie Director Business Commercial Management of the National Bank of Abu Dhabi and Shaker Zriqi Senior Manager, Finance Department of the HSBC Bank.The second session of the Forum will review the legislative and regulatory frameworks for SMEs. Participants in this regard include Ahmed Al Hosni, Director of Commercial Registration, Ministry of Economy, Habib Mohamed, Wazir, Director of Administrative Legislation, Policy and Legislation Sector of the Department of Economic Development, Rashid Hilal Darmaki Director of Investors ZONESCORP and Abdul Rahim Abdul Rahman the Economic Advisor, Abu Dhabi Chamber of Commerce and Industry.In conclusion, Miss Dina Ali Shagfoush, Director of Training and Consulting of the Jordan River Establishment, will highlight the experience of the establishment in the SMEs sector in Jordan, pointing out the its development stages , and the main obstacles encountered in its successful march.
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