UAE Ministry of Climate, Dubai SME sign deal to support agricultural SMEs



SOURCE: ZAWYA - UAE Ministry of Climate, Dubai SME sign deal to support agricultural SMEs

DUBAI-- The Ministry of Climate Change and Environment, MoCCAE, and the Mohammed Bin Rashid Establishment for SME Development, Dubai SME, an agency of the Department of Economic Development, DED, on Wednesday signed a Memorandum of Understanding, MoU, to cooperate in developing SMEs focussed on agriculture, livestock breeding, fisheries, and beekeeping in the UAE.

Sultan Alwan, Assistant Under-Secretary of the Regions Sector at the ministry, and Abdul Baset Al Janahi, CEO of Dubai SME, signed the MoU in the presence of key representatives from the two entities.

Under the agreement, the ministry will offer technical support services to commercial agricultural and aquafarming entrepreneurs applying for funding from Dubai SME. Support services on offer include conducting awareness and capacity-building courses, hands-on presentations and workshops, in collaboration with Dubai SME, at model farms currently being established by MoCCAE to raise awareness and knowledge of the latest practices in these fields.

Dubai SME will offer counselling and guidance to local entrepreneurs to introduce them to the legal requirements and dynamics of the labour market. Start-up businesses focused on agriculture, livestock breeding, beekeeping, fishing, or aquafarming operations can also benefit from administrative services and soft loan as well as licence exemption.

A joint committee will be formed to ensure the smooth and effective implementation of the MoU. The committee will meet regularly to track work progress. In addition to providing recommendations, the committee will facilitate SMEs focused on agriculture by reviewing their estimated budgets and either approve or reject them.

Alwan reiterated that MoCCAE is continually working to provide national agricultural, livestock breeding and fisheries ventures with an advantage to step up their competitiveness in global markets.

"The MoU with Dubai SME will serve to achieve mutual benefits. We will jointly support entrepreneurs such as farmers, fishermen, beekeepers and livestock breeders and help them maximise the profitability and potential of their businesses," Alwan added.

"The primary goal of the Dubai SME is to support entrepreneurs across all phases of their growth journey and contribute to strengthening Dubai’s status as the ultimate hub for the incubation of start-ups.

"Through meticulously tailored programmes that cater to businesses in the agriculture, livestock breeding, fishery and beekeeping sectors, we are confident that our partnership with the ministry will further consolidate entrepreneurship in these sectors. This partnership is aimed at encouraging new players to establish agricultural enterprises and driving innovation in organic farming and hydroponics greenhouses," Al Janahi said.