Sharjah24: The Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) affiliated to the Sharjah Economic Development Department, has been continuing its efforts in recording further achievements during the second quarter of the current year, through providing services to attract more entrepreneurs to the small and medium enterprises sector, providing them with all they need from guidance and consultations, training and qualification, technical support and financial financing, to enable them to take part in the commercial field that contribute to pushing the wheel of progress in the economy of the Emirate of Sharjah.
His Excellency Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the Sharjah Economic Development Department, praised the facilities and exemptions provided by government institutions to small and medium enterprises that played a key role in motivating them to establish further commercial, service and industrial projects which contribute to developing Sharjah's economy.
His Excellency pointed out that the directives of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of Sheikh Sultan bin Mohammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Executive Council, in paving the way to the emirate to be a preferred destination in the region for innovative pioneering projects, and supporting this vital sector by enhancing the participation of male and female citizens in their country's economy and community service.
For his part, His Excellency Hamad Ali Abdullah Al Mahmoud, Director of "Ruwad", affirmed that the second quarter of this year witnessed a great interaction by entrepreneurs with the initiatives and projects implemented by the Foundation, and a remarkable demand for obtaining its various services, in light of the growing interest in establishing individual and group projects and benefiting from the facilities provided by "Ruwad" and government institutions for the sons and daughters of the UAE to enter the private sector, and expand projects that enhance the country's competitiveness in the entrepreneurial sector, Pointing out that the purchases of government agencies from members of the Foundation during the second quarter of this year exceeded the amount of 968 thousand dirhams.
Al Mahmoud added that the Foundation received, from April to June, 15 requests for funding in various activities, which were studied in all their details, and ensured their compliance with the conditions and criteria set, as well as reviewing the feasibility study for each project, and then approved to finance three projects, as Ruwad found high opportunities for competitiveness and continuity, adding that "Ruwad" is keen to give priority in financing innovative projects in terms of the idea as well as those that have higher chances of success.
His Excellency indicated that the number of projects whose owners applied for membership of the Foundation in the second quarter of this year amounted to 102 projects, of which 66 projects were approved to be granted “pioneers” membership, while the total number of projects that were approved to renew their membership for the second or third year reached 69 projects, as they were exempted from all government fees, and it was also approved to extend the membership of 14 projects for the fourth or fifth year with exemption from half of the government fees.
With regard to the geographical distribution of projects joining the Foundation, the city of Sharjah accounted for 51.52% of them, with 34 projects (22 commercial projects and 12 service projects), and the city of Kalba came second with 15 projects (9 commercial projects and 6 service projects) with a rate of 22.73%. The city of Khorfakkan acquired 6 projects (4 commercial and 2 service) at a rate of 9.09%, in addition to 4 projects in Madam City (3 commercial and 1 service) at a rate of 6.06%, compared to 3 commercial projects in the city of Al Dhaid (at a rate of 4.55%) and two commercial projects in Al Hamriyah City (at a rate of 3.03%), as well as one commercial project in each of Mleiha and Dibba Al Hisn (at a rate of 1.52% each).
As for the classification of projects according to the type of activity, the food sector topped the list of projects that obtained “pioneers” membership during the second quarter of 2023, with 26 projects constituting a rate of 39.4%, followed by the design and sewing of women’s fashion, and the number reached 6 projects with a rate of 9.1%, in addition to 5 projects in the field of beauty centers (7.6%), and 4 projects in the car maintenance sector (6.1%), and 3 projects in the field of trading flowers and natural plants. and car washes (4.5%), and two projects in the field of law firms and fitness clubs (3%), and the rest of the projects came in various fields such as restaurant management, perfume and perfume trade, gift trade, mobile phone trade, security and safety systems trade, order delivery services, advertising, stationery, and others (1.5% for each activity).
For an optimal experience, please
