SME signs cooperation agreement with Kayanat International Holding

SME CEO, Mr. Abdul Baset Al-Janahi, signed the agreement for his side, while the Board Chairperson and Managing Director of the Kayanat International Holding, Mrs. Sarah Al-Jasim, also signed for her outfit during a short ceremony held here at the SME premises.

A number of officials from both sides were present at the signing ceremony.

Based on the agreement, the SME will promote business initiatives among the youth by providing them with the necessary strategies and facilitating support for freshers in a form of real business opportunities that would enable them excel in their businesses.

The SME will also facilitate for them the opportunities to meet with decision-makers and opinion leaders to share experience and ideas and to contribute in the creation of job opportunities and incentives to enable the youth become creative and innovative in their careers.

On the other hand, Kayanat International Holding will present projects according to its 'Franchise' trade marks to members of the SME.

It will also prepare a clearly defined work plan for those projects, and will organise for the beneficiaries of its concessions comprehensive training programmes for the management of the projects.

In a statement after signing the agreement, SME CEO, Abdul Baset Al-Janahi said:

'The signing of this agreement with Kayanat International Holding aims at creating promising investment opportunities in good ventures, and creating innovative ideas in the Arab world, particularly in the United Arab Emirates, through the Mohammed bin Rashid Establishment for Young Business Leaders, whose major objective is to boost business ventures. The Mohammed bin Rashid Establishment for Young Business Leaders aims at building a solid ground to boost business ventures and to assist young business leaders to achieve their ambitions of setting up successful small and medium-scale businesses in accordance with highly advanced programmes. This support is not limited only to finance but also includes various kinds of support and continuous follow-up to ensure the success of those ventures.'

The Board Chairperson and Managing Director of Kayanat International Holding, Mrs. Sarah Al-Jasim said the cooperation was achieved because the two organisations share common policy.
She said: 'This kind of agreement has various value additions, most importantly among them are the regional and international connections for those projects, as well as building a broad base private businessmen and women. But Kayanat focuses on cooperation with international development institutions and regional governments by putting in place a comprehensive business administration system and project financing, which we provide through regional and international development institutions.'

She stressed on the need for the private sector to continue to play a leading role in support of the economy and to strike a balance in the society.

She also cited the significance of business enterprises and the essence of government support for those ventures.

It's worth mentioning here that the SME's major objective is to provide support for young business leaders with the aim of boosting innovative ventures in Dubai, facilitating the development of private businesses and spreading the spirit of creativity among the citizens of the UAE.

These are in addition to boosting the steady growth of the major economic sectors, including the small and medium-scale businesses.

The SME also plays a significant role in human resources development through skills development and professional training programmes to improve the capabilities of the youth and provide them with job opportunities after having prepared them for the job market.

The Kayanat International Holding of Kuwait, for its part, plays a major role at the Gulf and Arab levels by investing in creative and innovative ideas, with the aim of embracing small-scale businesses, including 'Franchise' system operated ventures which lead to the production of advanced goods and services and absorbing a big percentage of national labour to combat unemployment and create a broad base of business entrepreneurs and skilled labours.

It was within this framework that the two organisations agreed on a protocol by means of the MoU signed by the two parties to maximise the benefit from the capabilities of each side to effectively serve UAE nationals through the franchise system operated projects which is now one of the most viable means of ensuring the success of small and medium-scale ventures in achieving economic growth to meet the objectives of sustainable development.

The two sides will later choose their representatives who will be tasked with drafting the implementation mechanisms to activate the MoU.