Dubai – Mubasher: The Department of Economic Development of Ajman (DED) has signed a strategic cooperation agreement with Khalifa Fund for Enterprise Development (KFED) aimed at bolstering and promoting entrepreneurship culture in the UAE.
The agreement will support the UAE’s entrepreneurs and small and medium-size enterprises’ (SMEs) owners, according to an official statement.
“The agreement represents an advanced step towards promoting entrepreneurship--fully encouraging young Emirati people to engage in entrepreneurship and establish SMEs, which have become the backbone of advanced economies around the world,” DED-Ajman’s director general Ali Issa Al Nuaimi, commented.
Al Nuaimi stressed that the agreement will strengthen Ajman’s position as a destination for SMEs in line with Ajman Vision 2021, under which the emirate’s government plans to create a competitive environment to attract local, regional, and global investments.
DED-Ajman will exempt KFED’s members from fees required for the issuance and the renewal of the commercial licenses in the emirate, in addition to allocating 10% of its annual purchases and contracts for them,” KFED’s CEO Abdullah Saeed Al Darmaki said.
