Sharjah to enhance, stimulate entrepreneurship environment
- Last updated: January 1, 2025 | 23:49
As part of its efforts to enhance and stimulate the entrepreneurship environment in the Emirate of Sharjah, the Sharjah SME “Ruwad” announced the launch of the industrial sector financing programme, with a financing ceiling of up to Dhs800,000, in addition to other advantages related to the grace period and payment methods.
Hamad Ali Abdullah Al Mahmoud, Chairman of Sharjah Economic Development Department, said that the new financing programme approved by the Project Financing Committee in “Ruwad”, falls within Ruwad direct financing programmes, and provides financing facilities, advantages and incentives dedicated to priority industrial projects.
He pointed out that the industrial sector occupies a major priority and special attention from Sharjah government as one of the most important drivers of national economic growth and a basic pillar for raising the gross domestic product in the emirate, and creating new jobs in the labour market.
Al Mahmoud added that Ruwad recognises the importance of moving forward in implementing its commitments towards supporting the interest of young citizens in starting projects that consolidate the position of Emirati industries, and working to implement initiatives and programmes that would enhance the products of these projects and promote them locally and support their exports to foreign markets.
He continued by saying that Ruwad is keen to participate in preparing a suitable and attractive business environment for entrepreneurs in the industrial sector and enhancing its competitiveness.
Al Mahmoud explained that the industrial sector financing programme covers a number of priority industrial activities and products, as it includes specific projects in the agricultural sector, food industries, spare parts and equipment manufacturing, aluminium and iron works, in addition to cleaning, sterilisation and personal care products (detergents, perfumes, etc.), and other fields that can be viewed and learned about through Ruwad website.
Al Mahmoud pointed out that the year 2024 saw the financing of two industrial projects with a total of Dhs550,000, including financing the assets and operations of these projects, while the number of member projects in this sector increased to 17 industrial projects operating in various cities of the emirate.
“Ruwad” supports and develops small and medium-sized national projects in this sector through financial, advisory and technical empowerment aspects, evaluation and classification programmes, training and development, in line with the remarkable development and positive growth in the pace of establishing industrial projects established by Emirati entrepreneurs in various vital activities and fields.
On the other hand, Fatima Al Ali, Acting Director of Ruwad said that Ruwad has intensified the implementation of specialised training programmes and advisory sessions provided to owners of industrial projects with the aim of enabling them to discover new opportunities for the services and products they provide and adopt the latest new industrial technologies in the market, in addition to continuing to conduct field visits to classify and evaluate projects, including industrial sector projects, and launch business accelerators with the aim of growth and expansion of these projects, and embrace distinguished entrepreneurs in this sector.
The total number of training programmes directed at industrial sector projects during the year 2024 amounted to 6 specialised programmes, from which 84 male and female entrepreneurs benefited (27 male entrepreneurs and 57 female entrepreneurs). The implemented training agenda included the industrial projects development programme within the classification and evaluation programme for member projects, and 4 industrial sessions of the “Make in Sharjah” initiative.