Dubai Chambers has signed a Memorandum of Understanding (MoU) with Emirates Development Bank to enhance support for startups and small and medium-sized enterprises (SMEs). The agreement aims to provide tailored financing solutions for both new and existing projects.
To begin with, the MoU also covers funding for capital expenditure requirements. This ensures that SMEs have access to the resources needed to expand operations, invest in technology, and strengthen their market position.
Additionally, officials emphasized that the partnership reflects Dubai’s commitment to nurturing entrepreneurship. By facilitating easier access to finance, the initiative encourages innovation and business growth across multiple sectors.
The collaboration targets startups at early stages, offering structured financial support to accelerate their development. Established companies will benefit from flexible funding options to upgrade infrastructure and scale their businesses.
Through the MoU, Dubai Chambers and Emirates Development Bank aim to create a more enabling environment for SMEs. The partnership includes advisory services, mentorship programs, and guidance on project financing. Companies will also receive support in preparing proposals to secure funding efficiently.
Leaders emphasized that empowering SMEs plays a crucial role in creating jobs and driving sustainable growth. They expect the agreement to strengthen Dubai’s position as a regional hub for business and innovation. It also supports broader UAE strategies to diversify the economy and boost private sector contributions.
Furthermore, the agreement prioritizes high-potential sectors such as technology, renewable energy, healthcare, and logistics. It encourages collaboration with international partners and investors, fostering knowledge transfer and scaling innovative solutions.
In conclusion, the MoU will help SMEs adopt digital solutions, improve operational efficiency, and access global markets. Authorities plan training workshops, networking events, and sector-specific seminars to equip entrepreneurs with the skills and resources needed to compete internationally. Officials stressed that supporting SMEs will drive long-term economic resilience and nurture a culture of innovation.
