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Sharjah Economic Dept Signs MoU to Promote Social Capital

DUBAI — The Sharjah Economic Development Department, or SEDD, has signed a Memorandum of Understanding, aimed at promoting social capital, with the Ministry of Social Affairs in Dubai, whereby both parties will exchange legal and technical information and suggestions.

“The technical and managerial regulation of the social work within an integral framework plays an important role in creating effective social capital, which is a major element of society. In addition, fixing the random social status of the private sector with carefully placed strategies, will give companies vital developmental roles,” Ali bin Salim Al Mahmoud, General Manager of SEDD, said.

“Interaction with a company’s locally organized social activities will greatly help the company to develop its social programmes, which will in turn impact the economic movement that supports sustainable growth.”

“We greatly value our partnerships with the local institutions, as it is one of the Ministry’s primary strategies for 2008-2010, Abdullah bin Rashid Al Suwaidi, General Manager, Ministry of Social Affairs, said. “SEDD and the Ministry of Social affairs hope that this contract will encourage ministries, local and family companies to work in collaboration to raise the quality of social services.”

business@khaleejtimes.com