Mohammed bin Rashid Est. signs MoU with Dubai Industrial City

The MoU was signed by Abdul Baset Al Janahi, CEO of SME, and Rashed Al Ansari, Vice President of Dubai Industrial City, in the presence of senior officials from both organisations.

According to the MoU, the SME will take overall responsibility of recommending members to Dubai Industrial City, acting as the first point of contact. Both organisations will also meet on regular basis to ensure the track record of qualified SME members with Dubai Industrial City remains consistently positive.

On its part, the region's premier industrial destination has pledged to charge eligible SME members prevailing market rates for all contract renewals. In addition, it will offer preferential rates and allocate a dedicated space in its warehousing development for two years to SME members as well as reserve one building with approximately 480 bed spaces in the labour accommodation development for two years from the date of the MoU.

Adbul Baset Al Janahi, CEO of SME, said:

"As the vital industrial destination that has already attracted more than 450 leading manufacturers, Dubai Industrial City offers the small and medium business the perfect platform to establish their operations. The MoU offers fundamental incentives that will significantly facilitate and strengthen the growth of the Establishment's members and their businesses."

"The offer to allocate warehousing facilities at a time of strong demand for industrial space bears testimony to Dubai Industrial City's commitment to encouraging young national entrepreneurs. We welcome this gesture that will create the most conducive growth environment for small businesses, especially during their initial phase of operations," he added.

Rashed Al Ansari, Vice President of Dubai Industrial City, said:

"As the core economic group, small and medium businesses contribute significantly to the progress of a country, while laying strong foundations for future prosperity. We believe our incentives will create additional opportunities for emerging UAE national businesses and help nurture the entrepreneurial spirit of talented individuals."

"As the region's most sought after industrial destination, we are committed to creating the right enabling environment for stimulating the country's economic growth. We are confident the SME members will effectively leverage the incentives for ensuring rapid business expansion," he added.

The 560 million sq ft dedicated industrial destination comprises six clusters featuring food and beverage, base metal, mineral products, chemicals, transport equipment and parts, and machinery and mechanical equipment. It provides complementary facilities for logistics, warehousing, labour cities, industrial training, in addition to commercial, residential and entertainment zones. The comprehensive one stop-shop destination also offers tenants a critical competitive advantage in human resources, and business operations.

The Mohammed bin Rashid Establishment for Young Business Leaders is a pioneering organization set up to promote entrepreneurship across the country and spearheading the cause of SMEs, offering various services to catalyse higher-paced growth. It offers a wide range of enabling services to its members, including facilitating business agreements with leading government and private sector companies. The Establishment's services also extend to offering business consultancy, training programmes, and logistical support.