Khalifa Fund Support 2 Innovative UAE Businesses at Make it in the Emirates and Sign MoU with Industrial Development Bureau
Glass Tech Factory, and AlEmaar Cement Products Factory featured at the esteemed 'Make it in the Emirates' industrial event
2nd June 2023, Abu Dhabi, United Arab Emirates: Khalifa Fund for Enterprise Development will support two UAE businesses participating in the highly anticipated "Make it in the Emirates", a prominent industrial event that brings together government entities, industrial leaders, financial institutions, SMEs, and investors to explore investment opportunities, boost local content, and enable sustainable manufacturing.
As part of its commitment to supporting UAE businesses, Khalifa Fund will be actively participating in the "Make it in the Emirates" 2023 showcasing a stand that includes two prominent industrial businesses: Jaber AlKhyeli of Glass Tech Factory, and Ayedh AlMansoori of Al Emaar Cement Products Factory. Khalifa Fund's objective is to support businesses through events like 'Make in in the Emirates' to foster entrepreneurship and promote sustainable economic growth in the country.
Highlighting the significance of Khalifa Fund's support for the participating businesses, HE Alia Al Mazrouei, CEO of Khalifa Fund for Enterprise Development, stated: "We are proud to support these exceptional UAE businesses as they participate in the 'Make it in the Emirates' campaign. At Khalifa Fund, we believe in the potential of our local entrepreneurs and their ability to contribute to the growth and development of the manufacturing sector. Through our partnership with the Industrial Development Bureau, we aim to provide the necessary resources and support to help these businesses thrive and achieve success."
"Make it in the Emirates" has served as a platform for companies to discover the advantages of making the UAE their regional hub, providing access to new markets and showcasing the latest developments in sustainability and advanced technology, encouraging companies to prioritize local products made in the UAE.
In addition to the participating businesses showcasing their innovative products, a signing ceremony will take place between Khalifa Fund and the Industrial Development Bureau (IDB), the Abu Dhabi Department of Economic Development's (ADDED) arm to develop the industrial sector in the emirate of Abu Dhabi. This partnership allows small and medium-sized enterprises (SMEs) to apply to the Smart Manufacturing Incentive Programme (SMIP) through the Khalifa Fund Tamm service, simplifying the application process and providing essential support for their transition towards adopting Industry 4.0 applications.
Commenting on this, HE Alia Al Mazrouei stated: "The launch of the Smart Manufacturing Incentive Programme (SMIP)and the establishment of the Smart Manufacturing Competence Centre in Abu Dhabi marks a significant step forward in our journey towards a smarter manufacturing sector. By transforming 30% of our existing industrial SMEs to Industry 4.0 methods within the next five years, we are driving productivity, fostering technology adoption, and enhancing Abu Dhabi's global competitiveness".
"The Smart Manufacturing Incentive Programme will not only fuel growth and innovation within our local industries but also contribute to the overall economic diversification of our emirate. Furthermore, the establishment of the first Smart Manufacturing Competence Centre in the region solidifies Abu Dhabi's position as a leading hub for Industry 4.0. These ground breaking initiatives complement Abu Dhabi's efforts to shape a diversified, smart, and sustainable economy that thrives in the era of Industry 4.0".
Eng. Arafat Al Yafei, Executive Director of the Industrial Development Bureau (IDB), said: "We are pleased to work closely with Khalifa Fund for Enterprise Development (KFED), the leading enabler of entrepreneurship and SMEs, in implementing the Smart Manufacturing Incentive Programme (SMIP). Coupled with other initiatives, this innovative programme will empower SMEs to contribute to achieving the ambitious objectives of the Abu Dhabi Industrial Strategy and strengthen the emirate's position as the most competitive industrial hub in the region, with special focus on human development, sustainability, and smart economy".
"Therefore, we are introducing initiatives, incentive programmes, and building partnerships with leading industrial powerhouses to ensure attractiveness of our business and investment ecosystem'.
For more information about the Industrial Development Bureau, visit the link
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About Khalifa Fund for Enterprise Development
Khalifa Fund for Enterprise Development was established in 2007, by the virtue of the Law 14 of 2005 and its amendments, in the implementation of the vision of the late Sheikh Khalifa Bin Zayed Al Nahyan. The Khalifa Fund works as an independent, not-for-profit economic development agency of the Government of Abu Dhabi for the development and support of small-to-medium enterprises (SMEs).
The Fund helps to develop local enterprises in Abu Dhabi through instilling and enriching an investment culture amongst UAE nationals. The Fund also seeks to support and develop SMEs in the Emirate.
Khalifa Fund was founded in 2007 with a total capital of AED 300 million, which gradually increased in 2008 to AED 1 billion, in order to meet the growing demand for the Fund's services. In 2011, the Fund's total capital was increase to AED 2 billion, and the Fund covered all of the UAE through a network of branches.
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