DED, Al Tomooh launch 'Investment opportunity to every UAE national' project

The project aims at enabling young UAE nationals to set up their own small and medium enterprises (SMEs).

The project is launched under the patronage of His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Industry.

The project is an integrated development programme, whereby the DED encourages businessmen in private companies and public corporations to jointly work with young nationals and provide them with investment opportunities. This, in turn, enables the youngsters to play their role in the economic development of the UAE.

Around 1,000 UAE nationals from all over the UAE attended a special ceremony held to announce the project. They also showed their willingness to gain from the new opportunity.

"Dubai is witnessing an unexpected economic development and it seeks qualified nationals who would steer the wheel of economic growth," said Mr. Ali Ibrahim, Deputy Director General for Executive Affairs, DED. "The support of national companies to young nationals will go a long way to develop national human resources in Dubai."

"Dubai has witnessed the launch of several successful initiatives that support and encourage ambitious entrepreneurs to establish their own businesses. These include the Mohammed Bin Rashid Establishment for Young Business Leaders, Intlaq, and Emirates Bank's Al Tomooh finance scheme for national businesses,"

he added.

"The project complements the efforts of the Al Tomooh programme in empowering young UAE nationals," said Mr. Sulaiman Al-Mazroui, Chief Manager-Group Affairs at Emirates Bank, and Executive Member of Al Tomooh Supreme Committee. "Al Tomooh programme is aimed at increasing the participation of UAE nationals in the private and public sectors, raising the rate of national employment and encouraging nationals to enter other creative projects."

A number of representatives from different private and public companies participated in the launch of the project. They presented investment opportunities for the young nationals. The representatives also pledged to provide key elements of growth including adequate training, guidance, facilities and knowledge of the business environment in the country.

Young nationals attending the event filled up applications demonstrating their interest in benefiting from investment opportunities. The Department of Economic Development will interview the applicants later and distribute projects according to individual interests. Continuous co-ordination between young nationals and small businesses financing corporations headed by Emirates Bank's Al Tomooh programme will be provided by the department.

Government departments and establishments and businessmen supporting Al Tomooh programme were honored for their contribution to the success of the project. Distinguished projects were also honored.

The main sponsor of the event was Dubai Properties. Emirates Bank Group, The Kanoo Group, National Bonds Corporation and Al Yousuf LLC were the diamond sponsors. Union Coop was the Golden sponsor, and Al Qudra Holding, Awqaf and Minor Affairs Foundation, Dubai Business Women Council, Al Mulla Holding LLC, Al Rostamani Pegel LLC were the Silver sponsors. The event was also supported Sama Dubai as a media sponsor.

Strategic partners of the event included Damas LLC, Bin Salem, Dubai Islamic Insurance and Reinsurance Company (AMAN), Dubai Investments, The Dubai Department of Tourism and Commerce Marketing (DTCM) and Mufleh Group.