There are several funds launched in Dubai that enhance the business within Dubai. Among these Funds, Dubai has launched a Dh500 million fund. The primary purpose of this is to support small and medium-sized enterprises. Those funds will further boost Dubai’s vibrant business environment.
Sheikh Maktoum said, “Dubai has launched many initiatives. It will empower the businesses under the guidance of His Highness. Among these is the Dubai International Growth Initiative. These enterprises assign AED500 million to support SMEs. It is a strategic commitment to the future development of the economy of Dubai.” On Sunday, he launched the ‘Dubai International Growth Initiative’. The Government of Dubai, in partnership with Emirates NBD, will allocate Dh500 million. These initiatives aim to support the global expansion of SMEs based in Dubai.
Expansion of Business Globally:
Sheikh Hamdan highlighted the important role of Dubai in the global economy. He also highlights its important position as an international hub for business and commerce. “The Dubai International Growth Initiative will support the global expansion of Dubai-based SMEs. Small and medium enterprises are important in the Emirates economy, 95% of which are registered businesses.” Sheikh Hamdan said, “The continued and strong support for businessmen, investors, and SMEs provides a business-friendly environment for local and global investment in Dubai.” he added.
Sheikh Maktoum said: “Promoting global expansion of SMEs is a priority for the government in line with the D33 agenda.” These businesses play an important role in the emirate, employing more than 60 percent of the workforce. We thank Emirates NBD for its strategic partnership with the Government of Dubai to support this initiative. The private sector plays an important role in developing Dubai’s economy.”
The purpose of this initiative is to expand and empower businesses internationally. This initiative will focus on key business sectors of the emirate. Emirates will announce more details about the NBD financing program in February.
The initiative is designed to empower businesses to expand internationally in Dubai. The financing program’s details will be announced by Emirates NBD in February, with a focus on key strategic sectors of the emirate.
Benefits of Dubai International Growth Initiative:
Dubai International Growth Initiative programs provide huge benefits. Some of the benefits include:
Emirates NBD will grant financing to qualified companies at competitive rates. It will charge the Emirates’ Interbank Offered Rate (EIBOR) with no additional margin.
A steering committee will guide the initiative with Dubai Government and Emirates NBD representatives. It will also select eligible SMEs and oversee their performance. The committee will ensure the initiative’s success meeting the Emirates’ strategic objectives.
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