Tawazun launches programme for SMEs in defence sector
ABU DHABI, February 23, 2019
UAE-based Tawazun said its defence and security development fund has launched a new programme that will support Emirati small and medium enterprises (SMEs) operating in the defence and security sector.
Tawazun said its defence and security development fund has collaborated with Tawazun Industrial Park for a new programme that will support Emirati small and medium enterprises (SMEs) operating in the defence and security sector and ensure their effective contribution to economic development in the UAE.
The new SME’s leasing program is in the planning phase and execution and registration will begin early next year.
Under this proggramme, Tawazun Industrial Park will provide 75,000 sq m of its land area and manage the construction and leasing part, while the Defence and Security Development Fund will provide financing for the development of industrial facilities for SMEs.
The programme is aimed at attracting national SMEs specialised in advanced manufacturing and developments in the defence and Security sectors through providing facilities at incentivized rates, said a top official.
"The Fund would work on developing the area in four phases starting 2020," stated Abdulla Naser Al Jaabari, the chief officer and head of defence and security development fund.
"Each phase will consist of a number of facilities aimed at National private SMEs. He confirmed that the fund has developed a set of criteria that must be met by the companies seeking to benefit from its services in this field," he noted.
To be qualified, the companies must be defined as SMEs – as per the Ministry of Economy’s definition, he pointed out.
Al Jaabari explained that the project aims at creating an appropriate investment environment for SMEs and enhance their operational capabilities in the future.
Tawazun Industrial Park CEO Engineer Faiz Saleh Al Nahdi said the programme was another step towards the Nation’s 2030 Vision which encourages and facilitates the development of the key small to medium scale industries in the defence and security sector.
This, in turn which will positively contribute towards the country’s economic diversification and growth, stated the official.
Al Nahdi said the collaboration was in line with Tawazun Industrial Park’s vision of creating comprehensive clusters around the strategic and critical defence and security sector by offering world-class infrastructure and highly specialised real estate to serve the needs of this sector.
Tawazun Industrial Park is a unique regional industrial hub hosting the defence and security industry in its highly secure and safe community. It is already home to 20 leading national and international companies in the sector.-TradeAraia News Service
