Sharaka forum seeks support for SMEs

A number of public sector institutions have signed accords with Abu Dhabi’s Khalifa Fund for Enterprise Development which will help Emirati SMEs to bid for businesses and contracts. The second Sharaka Forum being organised by Khalifa Fund for Enterprise Development kicked off on Tuesday in order to activate the role of public sector in supporting the SMEs. The moot, attended by over 50 governmental and semi-governmental entities in Abu Dhabi, will go a long way in creating supportive environment for SMEs to “grow and succeed”, said Abdullah Saeed Al Darmaki, Chief Executive Officer of Khalifa Fund for Enterprise Development, in his opening speech. “The support of SMEs in promoting and marketing its products will reduce the risk factors” Al Dharmaki said adding that a share of the total government purchasing will boost the quality competitiveness of their products in the local market. The forum provides a real opportunity for a number of the owner of SMEs to present their services and products in front of decision makers and heads of purchasing departments as well as the large national companies. Four MoUs were signed between Khalifa Fund and Fujairah Municipality, Fujairah Tourism and Antiquities Authority (FTAA), Mubadala Development Company and Etihad Airways, in order to provide the SMEs with maximum facilities, exemptions for project bids as well as priority in tenders’ award. Over 40 projects, funded by Khalifa Fund were put up in an exhibition, showing the success of the Fund. Meanwhile, Adnoc Distribution, Abu Dhabi Airport Company and Adnec awarded four contracts to SMEs funded by the Fund. The Khalifa Fund inked 20 MoUs with governmental and federal entities aiming to create the appropriate environment for the projects which exceed 370 projects up to date. The Khalifa Fund was created with a capital of Dh2 billion to satisfy the needs and requirements of entrepreneurs, by providing a comprehensive programme to expand their businesses.