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Khalifa Fund Targets Five Strategic Sectors In 2018 |
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The Khalifa Fund for Enterprise Development has announced it is targeting five strategic sectors in 2018, which are leisure and entertainment, services, professional, scientific and technical, and Information and Communications Technology, as well as support services. The fund’s announcement is in line with its vision to reinforce the competitiveness of small and medium-sized enterprises, SMEs, to contribute to social development for the benefit and development of the community. The fund aims to train a new generation of entrepreneurs and promote the culture of entrepreneurship among UAE nationals, as well as to support innovative projects. In an exclusive statement to the Emirates News Agency, WAM, Abdullah Saeed Al Darmaki, CEO of the fund, said that the organisation aims, in 2018, to support national entrepreneurs and SMEs operating in vital sector, which is in line with its commitment to promote and reinforce the culture of entrepreneurship among UAE nationals and support them in creating SMEs. Al Darmaki added that there are around 209 projects in Abu Dhabi and the northern regions that are part of the fund’s targeted sectors. It aims to promote the role of incubators that create innovative ideas, which lead to the launch of beneficial projects that support the country’s social and economic development. The fund is also focussing on major sectors that are key drivers of economic growth and reinforce the culture of entrepreneurship, creativity and innovation among the youth, most notably agriculture, fishing, industry, food and retail. The fund has financially supported 223 agriculture and fishing projects in Abu Dhabi and northern regions, as well as 190 industrial projects, in line with the government’s plan to increase the contribution of the industrial sector to 25 percent of GDP by 2030. It has also supported 133 successful projects in the food sector. |
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