Dubai's success in supporting SMEs highlighted at Jordan forum

Held under the auspices of Jordan's Development and Employment Fund (DEF), the seminar, 'The Role of Small and Medium-Sized Enterprises to Eliminate Unemployment', discussed the contribution of SMEs to employment generation, the spread of a self-employment culture, as well as leadership and investment initiatives in the Arab world.

Highlighting the Establishment's achievements since its inception in 2002, Abdul Baset Al Janahi, CEO of the Mohammed Bin Rashid Establishment for Young Business Leaders, updated participants on its work in developing emerging entrepreneurs in Dubai.

Al Janahi singled out the Dubai Government's commitment to the SME sector as an important element in driving the local economy. He said the government's diversification strategy has led to an increased awareness of the importance of SMEs.

Al Janahi said:

"The Mohammed Bin Rashid Establishment for Young Business Leaders is a strong testimony to Dubai's keenness to provide entrepreneurs in the UAE with the necessary tools that guarantee growth. The Establishment's primary target is to ensure the development of emerging local businesses into significant enterprises."

The Dubai Strategic Plan 2015, launched by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, emphasised the importance of empowering SMEs and called for greater inclusion of young entrepreneurs in the nation's development efforts.

Through agreements with key government and private sector organisations, the Establishment has helped create business opportunities to benefit its 700 plus members. Over the past five year, the Establishment has offered enabling services worth of AED 170 million to its members.

"HH Sheikh Mohammed has directed local government entities to allocate five percent of their annual procurement orders to national SMEs. This decision has significantly impacted smaller businesses, providing them with an opportunity to prove themselves as reliable providers of products and services," added Al Janahi.

The Mohammed bin Rashid Establishment for Young Business Leaders offers a wide range of enabling services that include business consultancy, training programmes and logistical support.