Khalifa Fund Throws Spotlight on Four Successful Projects at Al Dhafra Festival 2019
The Khalifa Fund for Enterprise Development (KFED) is throwing the spotlight on four local projects during its participation in the 13th edition of Al Dhafra Festival, which aims to highlight the rich culture and heritage of the UAE and the Arabian Peninsula. The Fund is also showcasing the diverse portfolio of locally handcrafted products under the social initiative, ‘Sougha Establishment.’
KFED's presence at the annual event, which is being held at Madinat Zayed in Al Dhafra, Abu Dhabi, under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, falls in line with its commitment to instill a culture of entrepreneurship and innovation while also promoting freelancing and empowering Emirati-owned small and medium enterprises (SMEs) to play a lead role in the UAE's socio-economic growth.
Meanwhile, the ‘Sougha Establishment’ is exhibiting a wide range of its handcrafted products, which reflects the Establishment’s mission to increase knowledge and awareness about the country’s national heritage by preserving its traditional crafts and enabling Emirati craftsmen to transform their skills into jobs with a sustainable source of income.
Mouza Al Nasri, Acting Chief Executive Officer, KFED, said: “We are taking part in this year's Al Dhafra Festival to give projects we support the opportunity to access local markets, promote their products and enhance their income resources. Our participation complements our vision and strategy to support entrepreneurship in the UAE, instill a culture of self-employment and establish successful SMEs that can contribute to the fast-growing national economy.”
Al Nasri further highlighted the importance of taking part in leading festivals and events like Al Dhafra Festival, which helps entrepreneurs and SME owners in addressing challenges that they are facing in the business market through the creation of ideal opportunities for them, including the ability to communicate with decision makers, experts and stakeholders across various vital sectors and enabling them to reach their target audience to achieve the desired success and sustainability.
Among the KFED-supported projects are being showcased at the Al Dhafra festival is the ‘Bawabt Liwa Food Industries,’ which was founded in 2015 by Emirati entrepreneur, Humaid Al Zaabi, to specialize in the production and distribution of spices, legumes, nuts, and dry fruits, among others. The Fund is also exhibiting ‘Sugar Art Sweets’ project, which is owned by Ali Al Jenaibi and founded in 2016 to produce a large selection of modern sweets that suit all tastes.
Also being highlighted are other projects like the ‘Liwa Dates Food Industries,’ a national factory owned by Mohamed Al Mazrouei that manufactures all types of date products and provides packaging services for farmers around the UAE, besides helping them market their products more effectively and ‘Gracia Farm for Agricultural Crops’ of Hamed Al Hamed, a hydroponic agriculture endeavor that utilizes the latest technologies to produce high-quality agricultural crops and products, representing the first model of a global farm and providing sustainability through production, construction and education.
Al Dhafra Festival 2019 serves as a link between different generations to revive the Emirati heritage in an era of globalization and openness to other nations’ cultures and civilizations. The festival also features numerous events including daily camel beauty contests known as ‘Camel Muzayana,’ the ‘Traditional Souq,’ the ‘Pure-bred Arabian Horse Race,’ the ‘Falcons Muzayana,’ the ‘Falcon Hunting’ competition, the ‘Arabian Saluki Muzayana,’ the ‘Arabian Saluki Traditional Race’ championship, the ‘Al Naiim Sheep Muzayana,’ the ‘Dates Packaging’ competition, poetry contests, workshops for kids at the Children’s Village and many more.
Khalifa Fund for Enterprise Development
Khalifa Fund was established in June 2007 by the virtue of the (Law 14 of 2005), as an independent, Not for Profit Small and Medium Enterprises (SMEs) Socio Economic Development agency of the Government of Abu Dhabi. The purpose of establishing the fund is to help develop local enterprises in Abu Dhabi by instilling and enriching the culture of investment amongst UAE nationals, as well as supporting and developing small to medium-sized investments in the Emirate. Khalifa Fund started with a total capital of AED 300 million, which was gradually increased to AED 2 billion and covering all the UAE.