Khalifa Fund projects to be supported by Abu Dhabi

An agreement was recently been signed, between Abu Dhabi's Department of Planning and Economy (DPE) and the Khalifa Fund, to maintain and build up small and medium enterprises (SMEs).

Through this agreement, the licensing procedure for the projects supported by Khalifa Fund would be facilitated.
Ahmad Bin Nasser Al Suwaidi, chairman of DPE, and Hussain J. Al Nowais, the chairman of the Khalifa Fund, signed the agreement.

Al Suwaidi reported, “The agreement ensures exemption of the projects supported by Khalifa Fund from the fees charged by the DPE for issuance and renewal of business licenses and other charges.”

Al Suwaidi told that the agreement is concerned for the formation of a joint database of all the data and information associated with various projects. An explanation on the mechanism and duration of exemption will soon be issued by the DPE.

The DPE chairman further added, “The department would organize training courses for Khalifa Fund staff in order to technically prepare them to handle the required procedures for issuance and renewal of business licenses.”

Al Nowais said, "The agreement will allow the licensing systems of Khalifa Fund and the DPE to be linked, thereby enabling SME owners to clear all procedures under a single roof at the Fund's premises."

In various economic sectors, funds have provided financing for around 115SMEs, as well as other support services like accounting, marketing and administrative consultancy.