Sheikh Hamed Bin Zayed Al Nahyan officially launches Khalifa Fund's 5th SME exhibition in Abu Dhabi

UAE, Abu Dhabi, 7th October: Under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, His Highness Sheikh Hamed bin Zayed Al Nahyan, President of the Court of the Crown Prince of Abu Dhabi has launched the 5th annual ceremony and SME exhibition hosted by the Khalifa Fund for Enterprise Development at Abu Dhabi Exhibition Center. His Highness was accompanied by a number of Their Highnesses Sheikhs, Ministers, senior officials and various prominent figures in the state.

His Highness Sheikh Hamed said: “His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, has made UAE citizens the top priority for development at all levels, and they form the axis of the ongoing evolution of our economy. They are the main pillar of sustainable prosperity, and contribute to the wealth of the UAE by using entrepreneurship as a tool for positive change.”

His Highness pointed out that it was part of the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, to harness all the possibilities to develop the nation's human capital, in order to prepare a conscious generation of highly educated and innovative entrepreneurs who contribute to job creation. This will ultimately advance the economy in its ongoing march of progress.

His Highness added: “The Khalifa Fund has played a vital role in developing the business community and strengthening all the pillars of the national economy. It is providing the necessary support for entrepreneurs and giving them exposure to the latest best practices in entrepreneurship through training courses, while also opening the gateway for funding opportunities to strengthen the backbone of entrepreneurship in the state.”

His Highness presented prizes to the entities that have been most supportive of SME's that are supported by the Khalifa Fund: The General Command of the Armed Forces won the award in the ‘Governmental Agencies' category, and was represented by Deputy Commander of the Presidential Guard, Major General Salim Ali Ghafli. The entity was honoured for its unwavering dedication to uplifting SME's, as evidenced by the fact that it awarded contracts worth a massive AED70 million to SME's under the umbrella of the Khalifa Fund.

Etihad Airways won the award in the ‘Semi-governmental Agencies' category, and was represented by Mr Adel Al Mulla - Vice President of Procurement and Logistics. In the ‘Private Sector' category, the Assembly of the Union was honoured, represented by Mr Yaqoub Al Balushi - Director of Food Purchases Management.

His Highness went on to praise the outstanding efforts made by the General Command of the Armed Forces to support SME's that are under the umbrella of the Khalifa Fund by awarding contracts to them, which greatly helps their continuity and development.

His Highness also commended the support of Etihad Airways and Union Cooperative Society, calling on governmental and private institutions to emulate this shining example by supporting products and services from projects financed by the Khalifa Fund, so that these projects can continuously improve their performance and quality.

His Highness also presented the Khalifa Fund for Entrepreneurship awards: in the ‘Khutwa' (Micro-Finance) category, the winner was “Naseem Al Bahar for Women's Tailoring" project owned by Rouwya Salem Al Darie. In the ‘Bedaya' (Start-up loans) category, the award went to “Khilan for Digital Solutions”, owned by Ali Abdullah Al Jabri. In the ‘Zeyada' (Expansion loans) category, the winner was “KNR Fibre Glass Solutions”, owned by Khaled Al Alawi.

In the ‘Membership program' category, the winner was “Upgrading Kingdom for Consulting & Training” project, owned by Huda Al Ali. Meanwhile Bakhita Saif Al Mansouri, Moza Al Marri and Reham Al Hashil received a prize for their project "Heritage Creativity" within the ‘Sougha' initiative of the Fund.

The prize in the Micro-Finance category was awarded to Khayreya Mohammed, Hassan Ahmed Saber and Kulthem Obaid Al Mazroui; while the winner of the “Best Emirati Projects” outside the Khalifa Fund system was “Ahdaf Sports Club”, owned by Anas Bukhash, Yousef Al-Hashimi, Mustafa Al-Hashemi and Fahad Kazim .

His Highness officially opened the exhibition which showcases over 50 new projects funded and supported by the Khalifa Fund, and listened to the owners of those projects as they narrated their journey to success with the guidance of the Fund.

In his speech, His Excellency Hussein Jassim Al Nowais, Chairman of the Khalifa Fund said: “Since our Fund's inception six years ago, we have tirelessly pursued the noble goals of promoting socio-economic development by creating a supportive environment where entrepreneurs can thrive with full access to both monetary and human capital, investment opportunities and in-depth expertise.”

HE Al Nowais reiterated that the Fund is advancing the status of the emirate and the nation among its peers at the regional and global levels due to the exceptional quality of its programs, which inspire innovation in the SME sector.

HE Al Nowais added: “The Khalifa Fund has so far invested over AED900 million in 582 projects, contributing immensely to the national economy. 28% of these projects are owned by women, embodying our dedication to uplifting women entrepreneurs.”

The Khalifa Fund is continuously strengthening the values of leadership and excellence in the business community, and facilitated more than 350 training courses which benefited approximately 5,000 Emiratis. About 400 workshops were conducted, and ever-increasing participation by women entrepreneurs has been observed.

The Fund's programs cover hydroponic services, with facilities and exemptions offered; as well as marketing and management consulting, financial management and more.

HE Al Nowais revealed that the Fund intends to finance 30 farms by the end of the year, transforming them from traditional agriculture to advanced hydroponics with a total value of up to AED30 million.

He stressed that this agricultural initiative, which is fulfilling the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, will strengthen the nation's food security and maximize the efficiency of water consumption, as well as empowering Emiratis working in the agricultural sector.

He also pointed out that the Fund has pumped direct investments worth at least AED150 million in 10 major projects, promoting value-added services and modern technology. Commenting on the cross-company initiatives established by the Fund in partnership with Abu Dhabi National Bank, HE Al Nowais stated: "We look forward to finalizing strategic partnerships to invest in about 10 projects in various sectors by the beginning of next year.”

The Khalifa Fund was established within the framework of the strategic goals pursued by the Emirate of Abu Dhabi, aiming to diversify the sources of income and help citizens to reach their fullest potential in order to raise the emirate's economic prosperity and competitiveness to the highest global standards.

Following its launch on June 3rd 2007, the Khalifa Fund had a capital base of AED1 billion. It aims to create a generation of innovative entrepreneurs by instilling a culture of smart investment  - particularly among young people - in addition to supporting small and medium enterprises across the state.

The Fund has initiated various programs to match the needs of investors in order to expand investment activity and attract many more potential investors. Its support system includes training, rehabilitation and provision of data and consulting services, marketing and other services to nurture financially viable projects.