Officials signing the Memorandum of Understanding in Abu Dhabi on Wednesday.

Business Bureau, Gulf Today

Abu Dhabi: The Khalifa Fund for Economic Development (KFED) has announced an innovative partnership with noon.com - an ecosystem of services and products for the Arab world and the largest GCC e-commerce company. The partnership aims to enhance mutual cooperation through the implementation of a three-tiered initiative, including preferential rates at noon.com; the ‘noon Mahali’ initiative supporting Emirati micro-businesses; and optimised positioning for local food producers on noon.com’s dedicated grocery platform, noon Daily.

The strategic new partnership is part of e-Empower, the Khalifa Fund initiative launched last month under the ‘Abu Dhabi Inspires’ programme to support Abu Dhabi SMEs, and is in line with the UAE’s national objectives to enhance food security.

Mohammed Ali Al Shorafa, Chairman, Abu Dhabi Department of Economic Development (ADDED) and Chairman, KFED, explained that the new partnership helps deliver on the goals of the ‘Abu Dhabi Inspires’ programme, which was launched by the Abu Dhabi Government to drive forward agile, innovative thinking within the government and the community, and to encourage ideas that have a positive impact on people now and into the future.

Al Shorafa added: “Khalifa Fund is delighted to bring noon.com onboard as the latest partner of the e-Empower initiative. We continue to be dedicated towards collaborating with leading organisations who provide an abundance of knowledge and resources to Abu Dhabi’s SME sector; which is an economically imperative sector that contributes substantially to the Emirate’s non-oil revenues.”

He further stated that the partnership aims to inspire innovation, encourage entrepreneurship and accelerate the digital transformation of Abu Dhabi SMEs by unlocking new sectors and digitally empowering owned and operated businesses in the UAE, including Emirati micro-businesses and local food producers.Mohamed Alabbar, Founder, noon, said: “noon’s partnership with the Khalifa Fund for Enterprise Development is an important step in the safeguarding of our digital landscape for future generations. We must give our local SMEs, the ones who have been on the frontline, the best tools to thrive. E-empower companies will grow with noon, expanding their reach to millions of customers in the region.”