Sharjah 24: Sharjah SME Ruwad, affiliated with the Department of Economic Development, announced that 109 new projects have joined its membership during the first quarter of 2024, while it approved financing two pilot projects with a total value of 550 thousand dirhams.
The results of the quarterly report issued by the Ruwad showed that 125 projects implemented during the first three months of 2024 to obtain the Foundation’s services, including membership, financing and consulting, and 109 projects received support, which represents a high rate of 87.2%.
The report also revealed that during this period, Ruwad granted 52 projects approval to renew their membership for the second or third years, and also agreed to extend the membership of 42 projects for the fourth and fifth years, while it conducted 35 visits to its member projects for the purposes of communication, follow-up and evaluation, while 362 participants enrolled in 9 training and professional programms.
In this context, His Excellency Hamad Ali Abdullah Al Mahmoud, Chairman of Sharjah Economic Development Department (SEDD), confirmed that the entrepreneurship sector in the Emirate of Sharjah continues to consolidate its role in supporting the local economy and promoting economic development, which reflects the increasing interest of Emirati youth of both genders in entering the field of self-employment and establishing their own small and medium enterprises and benefiting from facilities and incentives allocated to entrepreneurs by government institutions in Sharjah, led by “Ruwad”.
Al Mahmoud pointed out that Ruwad positive results during the first quarter of 2024 in terms of financing services, membership, consulting, training, partnerships, and other community initiatives confirm its success in continuing to implement its strategic goals aimed at stimulating the entrepreneurship environment in Sharjah, enriching the experience of national small and medium enterprises, and expanding their positive role by providing competitive, value-added services and products. He pointed out that youth are a societal energy that requires cooperation and partnership between all government agencies and private sector institutions, to benefit from them, employ their capabilities, and translate their entrepreneurial ideas in an optimal way that meets their ambitions and achieves the country’s comprehensive development goals.
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