The Ministry of Climate Change and Environment (MOCCAE) and Mohammed Bin Rashid Establishment for SME Development (Dubai SME), an agency of the Department of Economic Development (DED), today signed a memorandum of understanding (MoU) to cooperate in developing SMEs focused on agriculture, livestock breeding, fisheries, and beekeeping in the UAE.
His Excellency Sultan Alwan, Assistant Undersecretary of the Regions Sector at MOCCAE, and His Excellency Abdul Baset Al Janahi, CEO of Dubai SME, signed the MoU, in the presence of key representatives from the two entities.
Under the agreement, MOCCAE will offer technical support services to commercial agricultural and aquafarming entrepreneurs applying for funding from Dubai SME. Support services on offer include conducting awareness and capacity building courses and hands-on presentations and workshops, in collaboration with Dubai SME, at model farms currently being established by MOCCAE to raise awareness and knowledge of the latest practices in these fields.
For its part, Dubai SME will offer counseling and guidance to local entrepreneurs to introduce them to the legal requirements and dynamics of the labor market. Startup businesses focused on agriculture, livestock breeding, beekeeping, fishing, or aquafarming operations, can also benefit from administrative services and soft loan as well as license exemption.
A joint committee will be formed to ensure the smooth and effective implementation of the MoU. The committee will meet regularly to track work progress. In addition to providing recommendations, the committee will facilitate SMEs focused on agriculture through reviewing their estimated budgets and either approve or reject them.
Speaking on the agreement, His Excellency Sultan Alwan reiterated that MOCCAE is continually working to provide national agricultural, livestock breeding and fisheries ventures with an advantage to step up their competitiveness in global markets.
He said: “The MoU with Dubai SME will serve to achieve mutual benefits. We will jointly support entrepreneurs such as farmers, fishermen, beekeepers and livestock breeders and help them maximize the profitability and potential of their businesses.”
For his part, His Excellency Abdul Baset Al Janahi said: “The primary goal for the Mohammed Bin Rashid Establishment for SME Development is to support entrepreneurs across all phases of their growth journey and contribute to strengthening Dubai’s status as the ultimate hub for the incubation of startups.
“Through meticulously tailoring programs that cater to businesses in the agriculture, livestock breeding, fishery and beekeeping sectors, we are confident that our partnership with the Ministry will further consolidate entrepreneurship in these sectors. This partnership is aimed at encouraging new players to establish agricultural enterprises and driving innovation in organic farming and hydroponics greenhouses.”