Mohammed bin Rashid Establishment for Young Business Leaders Signs MoU with Dubai Industrial City

Deal Offers Special Incentives to Nurture Growth of National Businesses

From left to right: Rashed Al Ansari, Vice President of Dubai Industrial City and Abdul Baset Al Janahi, CEO of SME

Dubai: 22 October, 2008 – The Mohammed Bin Rashid Establishment for Young Business Leaders (SME) today announced it has signed a Memorandum of Understanding (MoU) with Dubai Industrial City, a member of Tatweer  Dubai and the third largest non-real estate project in Dubai, to offer special incentives to small and medium national businesses in the country.

The MoU was signed by Abdul Baset Al Janahi, CEO of SME, and Rashed Al Ansari, Vice President of Dubai Industrial City, in the presence of senior officials from both organisations.
According to the MoU, the SME will take overall responsibility of recommending members to Dubai Industrial City, acting as the first point of contact. Both organisations will also meet on regular basis to ensure the track record of qualified SME members with Dubai Industrial City remains consistently positive.

On its part, the region’s premier industrial destination has pledged to charge eligible SME members prevailing market rates for all contract renewals. In addition, it will offer preferential rates and allocate a dedicated space in its warehousing development for two years to SME members as well as reserve one building with approximately 480 bed spaces in the labour accommodation development for two years from the date of the MoU.

Adbul Baset Al Janahi, CEO of SME, said:

As the vital industrial destination that has already attracted more than 450 leading manufacturers, Dubai Industrial City offers the small and medium business the perfect platform to establish their operations. The MoU offers fundamental incentives that will significantly facilitate and strengthen the growth of the Establishment’s members and their businesses.

The offer to allocate warehousing facilities at a time of strong demand for industrial space bears testimony to Dubai Industrial City’s commitment to encouraging young national entrepreneurs. We welcome this gesture that will create the most conducive growth environment for small businesses, especially during their initial phase of operations.

Rashed Al Ansari, Vice President of Dubai Industrial City, said:

As the core economic group, small and medium businesses contribute significantly to the progress of a country, while laying strong foundations for future prosperity. We believe our incentives will create additional opportunities for emerging UAE national businesses and help nurture the entrepreneurial spirit of talented individuals.

As the region’s most sought after industrial destination, we are committed to creating the right enabling environment for stimulating the country’s economic growth. We are confident the SME members will effectively leverage the incentives for ensuring rapid business expansion.

The 560 million sq ft dedicated industrial destination comprises six clusters featuring food and beverage, base metal, mineral products, chemicals, transport equipment and parts, and machinery and mechanical equipment. It provides complementary facilities for logistics, warehousing, labour cities, industrial training, in addition to commercial, residential and entertainment zones. The comprehensive one stop-shop destination also offers tenants a critical competitive advantage in human resources, and business operations.

The Mohammed bin Rashid Establishment for Young Business Leaders is a pioneering organization set up to promote entrepreneurship across the country and spearheading the cause of SMEs, offering various services to catalyse higher-paced growth. It offers a wide range of enabling services to its members, including facilitating business agreements with leading government and private sector companies. The Establishment’s services also extend to offering business consultancy, training programmes, and logistical support.

Notes to Editors

About Mohammed Bin Rashid Est. for Young Business Leaders

The Mohammed Bin Rashid Establishment for Young Business Leaders was launched in 2002. The vision of the Establishment is to nurture the entrepreneurial spirit among UAE nationals and catalyze the development and growth of the small and medium size enterprises.  The Establishment's core mission is to encourage and facilitate the development of local start up businesses across the UAE. To this end, the Establishment offers a wide range of incentives, enabling services and training programmes. The services of the SME extend to both entrepreneurs with existing businesses as well as budding entrepreneurs.

About Dubai Industrial City

Dubai Industrial City (DI), a member of Tatweer, is set up on 560 million sq ft of prime land,  with the aim of catalysing the growth and expansion of the industrial sector in the United Arab Emirates – especially in high value added manufacturing and production in the sectors of Machinery & Mechanical equipment, Transport Equipment and parts, Base Metal, Chemicals, Food and Beverage and Mineral Products.
Dubai Industrial City provides one of the region’s finest business environments and is a one-stop facility for industry and related sectors such as logistics, assembly and warehousing, vocational training and labor residences.
DI City’s strategic location near (Dubai World Central) the new Jebel Ali Airport City, the Jebel Ali Free Zone and Port; trans-Emirates highways, including Sheikh Zayed Road and Emirates Road, provides easy and convenient access to global transportation points via road, air and sea.

For Further Information:

Nagy Sedra
Dubai Industrial City
Tel: +971 4 364 3426
Fax: +971 4 4290205
Mobile: +971 50 4594252
E-mail: nagy.sedra@dubaiindustrialcity.ae

And/or

Agency
Aseel Nihad
Associate Account Manager
Jiwin public relations
Tel: +971 4 361 3584
Email: aseel.nihad@jiwin.ae