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The Abu Dhabi Co-Operative Society is granting projects under the umbrella of the Khalifa Fund a range of facilities and privileges, based on an agreement signed by both parties, aiming to enhance the work of entrepreneurs and assist them to market their products in a better way.
Ibrahim Abdulla Al Bahar, CEO of Abu Dhabi Co-op, and Abdullah Saeed Al Darmaki, CEO of the Khalifa Fund, signed the agreement on Sunday at the Co-op headquarters. The agreement includes facilities such as 75 percent discount on registering as suppliers, priority in supply, 60 percent discount on registering products and renting main shelves for a period of three years.
The Co-op also grants Fund members special features in monthly collection after passing a testing period of 3 - 6 months. The agreement also grants the Fund members supply priority after assuring they followed Co-op regulations.
"The MoU will open up broad prospects for the projects funded by the Khalifa Fund for Enterprise Development, especially for those who are specialised in retail sectors like the food industry, sweets, perfume, and accessories," said Al Darmaki.
"The agreement aims to enhance the innovation spirit in the country, encourage business startups among Emiratis youths, as well as encouraging development of a vital economy sector such as the small and medium enterprises sector," added Al Darmaki.
"Providing small and medium enterprises which are supported by the Khalifa Fund with such facilities and privileges will increase their competiveness and enhance their performance in order to be able to grow. We encourage government entities and national companies to give support to those projects to ensure their growth," he said.
Ibrahim Abdulla Al Bahar, CEO of the Abu Dhabi Co-op, said, "The agreement provides a number of encouraging privileges and conditions for the entrepreneurs supported by the Khalifa Fund. The Co-op will provide technical support for the entrepreneurs in vocational training, and will provide suggestions to improve their services and product quality."
Based on the agreement, the Abu Dhabi Co-op will organise training sessions for interested entrepreneurs in the field of retail and give them counselling services. The training sessions will include information about work mechanisms and the production chain, from receiving the products, storage and distribution to accounting systems.
The Khalifa Fund for Enterprise Development has succeed in building collaboration with a number of national entities aiming to enhance the business environment, and given support to small and medium enterprises in the country, enabling entrepreneurs to sustain their businesses and make effective contributions to the growth of the national economy.
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