The Sharjah Chamber of Commerce and Industry (SCCI) and Emirates Development Bank (EDB) have explored a number of flexible development solutions for investors as well as small and medium enterprises (SMEs).

 

In the presence of more than 40 representatives from the Emirate of Sharjah's major industrial companies, the two sides organised an orientation meeting aimed at enhancing the private sector's contribution to the UAE economic development.

 

Funding and support

The gathering highlighted EDB's funding and support for industrial sectors, as well as its vital role in assisting small and medium-sized businesses and factories to maintain the highest standards and, as a result, develop and stimulate the economic growth of the SME sector. 

 

The meeting was attended by Waleed Abdul Rahman Bukhatir, Second Vice-President, SCCI; Ahmed Mohamed Al Naqbi, EDB Chief Executive Officer; Mohammed Hilal Al-Hazmi, Board Member of SCCI; Mohammed Ahmed Amin Al Awadi, Director-General, SCCI; Lalu Samuel, Chairman of the Representative Committee of the Industry Sector at SCCI; and several representatives of the relevant departments of the EDB and SCCI.

 

Mutual framework

In his comments, Al Awadi said: "This meeting follows the SCCI and EDB's strategic partnership, which began in 2021 with an MoU aimed at boosting cooperation and establishing a formal mutual framework in local entrepreneurship and economic development. 

 

“Furthermore, it assists SCCI members who are manufacturers by assessing the potential of obtaining funds from the bank."

 

He further stated that SCCI is keen to proceed with its policy of providing support and contributing to the development of the industrial and SME sectors as critical components in promoting diversification, sustainability, and national economic growth.-- TradeArabia News Service