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Ras Al Khaimah is focusing on small and medium enterprises (SMEs) by directing them to invest in untapped areas, increasing their management skills and ensuring high sales of their products.
Ahmad Al Tunaiji, Assistant Director-General (Supportive Services), Ras Al Khaimah Chamber of Commerce and Industry, told Emirate Business that as the economic downturn has negatively impacted big businesses in the world, the need of the hour is to support SMEs.
"In Ras Al Khaimah, we are focusing on extending more support to SMEs and to help UAE nationals better contribute to the country's economy and ensure sustainable growth," he said.
The Saud bin Saqr Programme for SMEs found that information technology is a field that young investors can succeed in and that the market is in continuous need of such services, said Al Tunaiji.
Following the directions of Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, to support SMEs and increase partnership with the private sector, officials leading the initiative have signed a co-operation agreement with Ras Al Khaimah e-Government to help support Emirati entrepreneurs and prompt others to invest in IT. Also, the scheme is aimed at helping SMEs raise their sales through different facilities, including e-Government portals, Al Tunaiji said.
The programme has appointed Dr Nabil Al Turaifi, who has international and local experience in this field, as executive director.