The Fujairah Chamber of Commerce and Industry has highlighted its pioneering strategy for empowering the local entrepreneurship sector during a seminar hosted by the Arab Labor Organization in Amman, Jordan. The event, themed “Developing the Technical and Vocational Education and Training System to Create Future Entrepreneurs,” served as a platform for the Chamber to share its successful model.
Sultan Jamea Al Hindasi, Director-General of the Chamber, presented a detailed working paper outlining the emirate’s integrated approach to fostering a new generation of business leaders. He emphasized that nurturing youth and channeling their potential into productive ventures, particularly in entrepreneurship, is fundamental to national development and economic diversification.
An Integrated Ecosystem for Growth
Al Hindasi detailed the comprehensive ecosystem the Chamber has established to support young entrepreneurs. A cornerstone of this strategy is the “Fujairah Centre for Small Projects Support,” an initiative designed to provide a nurturing environment for startups.
The Chamber’s approach focuses on building a supportive framework that equips aspiring founders with the tools and confidence to enter the market. This involves strategic partnerships and technical support programs aimed at stimulating economic growth by empowering ambitious youth.
Tangible Incentives for Startups
To translate vision into action, the Chamber has launched a suite of powerful incentives. This includes establishing business incubators that offer significant advantages, such as a five-year exemption from government fees, a critical relief for early-stage companies.
Furthermore, the Chamber has facilitated policies that allocate a percentage of government procurement contracts to youth-led projects, providing them with a crucial early market. The provision of suitable land for new projects further reduces barriers to entry for promising ventures.
Financial and Developmental Support
Beyond logistical support, the Chamber is actively involved in financial empowerment. A key partnership was signed with the National Fund for Social Responsibility (Majra) to launch the “Community Entrepreneurs” program, which provides essential funding for emerging and community-focused projects.
The Chamber also prioritizes skill development, offering specialized training courses to enhance productivity and integrate advanced technology into business operations. To broaden their horizons and open new markets, entrepreneurs are included in international trade delegations and exhibitions, allowing them to gain invaluable experience and global exposure.
About Fujairah Chamber of Commerce and Industry
The Fujairah Chamber of Commerce and Industry is a key governmental body dedicated to representing and supporting the business community in the Emirate of Fujairah. It works to stimulate economic growth, attract investment, and foster a dynamic and competitive environment for businesses, with a special focus on empowering startups and promoting entrepreneurship.
Source: Al Watan
