Saud bin Saqr Programme for Young Business Leaders signs MoUs

Shaikh Mohammed bin Saud Al Qasimi, son of Shaikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, attended the signing ceremony held at Hotel Hilton here.

As per the MoUs, the SMEs registered under the Saud bin Saqr Programme for Young Business Leaders will get preferential treatment in the awarding of purchase contracts and access to other business opportunities relating to government departments and industrial firms. The new initiative was launched to mark the seventh anniversary of the appointment of H.H. Sheikh Saud bin Saqr Al Qasimi as the Crown Prince and Deputy Ruler of Ras Al Khaimah.

Yousef Obaid Al Nuaimi, Chairman of RAK Chamber of Commerce and Industry, said that the MoUs would help strengthen the cooperation between the government and industry establishments and the SMEs set up under the Saud bin Saqr Programme for Young Business Leaders. “The new enterprises set up under the programme would get priority with regard to purchase contracts and other business deals involving the government departments and participating companies.”

“Small and medium enterprises are bound to become the major engines of growth the future, especially in the wake of the current global financial scenario. SMEs can make use of their ability to innovate and capacity for job creation to boost national economic development. The Saud bin Saqr Programme aims to promote the entrepreneurial spirit of UAE national youth to create successful business ventures that would enhance their contribution to national development,” Al Nuaimi added.

Ahmed Abdullah Al Amash, General Manager of Gulf Cement Company (GCC), which is one of the signatories of the MoU said, “Gulf Cement Company is very proud to help support the national youth and their new business enterprises. The MoUs would provide the SMEs much needed support to gain a foothold in the local market.”

The Saud bin Saqr Programme for Young Business Leaders’ was launched by the Ras Al Khaimah Chamber of Commerce and Industry (RAKCCI) in 2008 to promote and facilitate entrepreneurship and encourage UAE entrepreneurs to set up new businesses and projects.

Dr. Nabeel Tariff, Managing Director of Saud bin Saqr Programme for Young Business Leaders, said that the programme has so far registered 222 SMEs and another 34 projects currently in business incubation stage.

The government and industry establishments which signed MoUs with Saud bin Saqr Programme for Young Business Leaders included RAK Municipality, RAK Education Zone, Land Department, RAK Higher Colleges of Technology, Gulf Cement Company, Union Cement Company, Ras Al Khaimah Cement, Ras Al Khaimah Company for White Cement and Construction Materials, Ministry of Culture, Youth and Community development, RAK Environment Protection and Development Agency and RAK Rock Company. 


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