Winners of the annual Emirates Labour Market Award spoke about how they plan to use the money to build their dream houses, start businesses
uae8 hours ago
The Ruler of Dubai on Monday announced a new strategic programme to boost vital sectors in the country.
Under the initiative, Emirates Development Bank (EDB) will provide a sizeable Dh30 billion financial support to businesses and start-ups in a major step to drive the national economy.
ALSO READ:
Launched to support Operation 300bn, the EDB Strategy aims to leverage the Bank’s role as a key driver of the national economy to provide the largest support network for the industrial sector.
This was announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.
“We launched the new strategic program of the Emirates Development Bank, a financing portfolio worth Dh30 billion to stimulate a group of vital sectors of national priorities," said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
"The goal is to finance 13,500 new companies in these sectors in the coming years,” he said in a post on Twitter.
“Advancing the national economy is a top priority that requires a joint effort of all our economic entities in the coming phase," he added. "We must adopt a distinctive vision that meets global trends and sustains development to maximise the industrial sector’s revenue and boost the broader economy.”
Commenting on the state of the UAE economy, he noted: “Our national economy is doing well and progressing well. We have assets in the state banks exceeding Dh3 trillion to push our economy towards new horizons."
The Dubai Ruler then extended a warm invitation to anyone who wishes to pursue their dreams in the country.
"We welcome everyone to make their dream in the United Arab Emirates. We welcome their future with us in the country of the future,” he said.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, also commented on the launch, affirming the UAE's commitment to support ideas to bolster the economy.
"The strategy of the Emirates Development Bank is an ambitious additional driver for the development of the national economy and a major supporter of companies and small and medium enterprises."
"We are committed to support exceptional initiatives and qualitative and creative ideas that support industry and advanced technology and that keep pace with our future development priorities,” he added.
Operation 300bn was launched earlier this year as a 10-year comprehensive strategy to more than double the industrial sector's contribution to the country's GDP, positioning the UAE as a global industrial hub by 2031.
Winners of the annual Emirates Labour Market Award spoke about how they plan to use the money to build their dream houses, start businesses
uae8 hours ago
10 lucky fans will have the once-in-a-lifetime chance to meet the eight-division world champion
uae attractions8 hours ago
ASAS 2024 brought together over 1,000 young talents from 50 nationalities under the theme 'Art and Innovation'
kt network9 hours ago
While President-elect Trump's administration originally filed the search case against Google during his first term, he indicated he might not break up the company
tech9 hours ago
The gathering explored the cutting edge of cinema, new media, PR and marketing, IT technologies, eSports, and game development
kt network9 hours ago
Passengers were currently being prevented from entering the building
world9 hours ago
Users will be able to select transcript language, too; here's how the new smart tool works
tech9 hours ago
With the new tariff, Yango Ride users can expect comfortable, modern limo vehicles starting from a minimum fare of Dh15.6
kt network10 hours ago