Jafza exempts Mohammed Bin Rashid Est. for Young Business Leaders from licensing fees

The decision illustrates JAFZA's keenness to create a cost effective environment that stimulates the growth of small and medium enterprises (SMEs) in the UAE.

Salma Hareb, CEO Jafza and Economic Zones World, commenting on the Jafza initiative, said: "Jafza is committed to provide full support to start up SMEs in the UAE. With this special exemption to members of the Mohammed Bin Rashid Est. for Young Business Leaders, Jafza offers young national entrepreneurs an opportunity to demonstrate their business acumen and to expand their products and services to the rapidly growing Middle East markets."

Applauding the decision, Abdul Baset Al Janahi, CEO of Mohammed Bin Rashid Establishment for Young Business Leaders said: "We feel privileged by the gesture extended to emerging UAE businesses by a leading organization such as Jafza. The Establishment is keen to leverage the growing awareness of SMEs to further drive this vital economic sector. We aim to achieve this objective by joining hands with more public and private sector organisations to create an enabling environment for smaller businesses to grow."

Commenting on the latest Jafza move Fatma Salem, Executive Vice President, Customer Service, said: "The decision illustrates Jafza's commitment to support the Dubai Strategic Plan 2015, which places significant emphasis on encouraging emerging local entrepreneurs become active players in the UAE economy."

Khalid Hussain Hammad, Manager - Project & Other Business Units of Jafza, said: "Local entrepreneurs and new start-up companies require sustained support to grow their businesses. As one of the largest free zones in the world, we want to support them to come forward to contribute to the country's progress. We are confident our decision will offer the right business environment to drive small enterprises' grow into large commercial entities."

Ahmed Al Hashimi, Assistant Manager of Entrepreneur Relation in Mohammed Bin Rashid Est. for Young Business Leaders, said: "Jafza's move will definitely provide an impetus to businesses led by members of the Establishment. It will also motivate them to embark on expansion plans and take advantage of the growing potential of the country's booming economy.

"The Establishment has initiated several measures to enlist the support of key government and private sector organisations. While we already offer a wide range of enabling services, we are extremely keen to work with more organisations that add value to start up businesses."

Services offered by the Mohammed bin Rashid Establishment for Young Business Leaders include business consultancy, training programmes and logistical support.