The UAE Ministry of Economy and Tourism has signed a Memorandum of Understanding (MoU) with the Emirates Growth Fund to enhance the role of small and medium-sized enterprises (SMEs) in developing the nation’s economic clusters. This strategic partnership aims to support the growth of these businesses and accelerate their access to regional and global markets.
The agreement focuses on empowering companies through specialized capacity-building programs, fostering innovation, and launching advanced accelerator initiatives to fuel their expansion. The MoU was signed in the presence of H.E. Abdullah bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the UAE Entrepreneurship Council.
A Strategic Push For Economic Clusters
H.E. Abdullah bin Touq Al Marri emphasized that the UAE continues to strengthen its global position as a leading hub for entrepreneurship by providing pioneering national initiatives, resources, and advanced infrastructure that support entrepreneurs, talent, and innovators.
“In line with the National Policy for Economic Clusters, the UAE places great importance on developing these clusters in priority sectors and enhancing the role of startups and SMEs in their growth,” stated H.E. Al Marri. “This MoU with the Emirates Growth Fund is a new step to support this direction by empowering SMEs and enhancing their ability to expand into new economy sectors, which contributes to economic diversification, stimulates innovation, and boosts the competitiveness of our economic clusters regionally and globally.”
Providing Strategic Capital For Growth
The partnership is designed to bridge a critical gap in the financing ecosystem by providing promising SMEs with access to growth-stage capital. This will be coupled with strategic support to enhance their institutional capabilities and prepare them for sustainable expansion.
H.E. Najla Ahmed Al Midfa, Vice-Chairman of the Emirates Growth Fund, commented, “The Emirates Growth Fund plays a national role in bridging a fundamental gap in the financing ecosystem by enabling promising SMEs to access growth capital at the right stage. As a long-term partner, we provide strategic capital supported by an effective value creation methodology focused on building institutional capacity and enhancing expansion readiness.”
Khalifa Al Hajri, CEO of the Emirates Growth Fund, added, “This memorandum represents a pivotal step in our journey to enhance the growth of SMEs and strengthen their readiness for local and international expansion. Through this collaboration, we will focus on transforming available opportunities into tangible, measurable results by investing in companies in the growth stage and facilitating access to strategic capital in line with national economic priorities.”
Targeted Support For Food Security
In a related development, an MoU was also signed between the Emirates Growth Fund and the UAE Food Collective. This agreement will enable the fund to support companies within the collective by providing strategic growth capital and value creation. The initiative aims to enhance the competitiveness of the food security sector, support economic diversification, and build a more self-sufficient and sustainable food system in the UAE.
About Emirates Growth Fund
The Emirates Growth Fund is a national initiative designed to support the UAE’s economic ecosystem by bridging the funding gap for promising small and medium-sized enterprises. The fund provides strategic growth capital and a robust value-creation framework to help companies build institutional capacity, enhance their readiness for expansion, and compete on both a regional and global scale, contributing long-term value to the UAE’s diverse economy.
Source: Zawya
