Six Khalifa Fund-Supported SMEs Join Franchise Saudi Arabia

Press release

Published March 28th, 2019 - 06:40 GMT

During the event

The Khalifa Fund for Enterprise Development participated in Franchise Saudi Arabia, which was held recently in Jeddah, in cooperation with the National Program for Small and Medium-Sized Enterprises and Saudi-Emirati Coordination Council. Around 30 Emirati entrepreneurs, including six participants of Khalifa Fund-supported small and medium enterprises (SMEs), had the opportunity to explore new markets for their products and services during the event.

Mouza Al Nasri, Acting Chief Executive Officer of Khalifa Fund, said: “The exhibition, the region’s largest franchising event, will enable us to show our support for entrepreneurs and promote a culture of entrepreneurship among young people. The Khalifa Fund-supported SMEs will benefit from the event by identifying new markets for sustainable growth and creating a conducive business environment. The event is an opportunity to expand their business horizons as a result of their interaction with a wide range of exhibitors, visitors and experts”.

Al Nasri also pointed to the importance of the strategic partnership between the UAE and the Kingdom of Saudi Arabia in various fields, stressing the role of the Saudi-Emirati Coordination Council in promoting cooperation between the two countries.

The SMEs that participated in the event were the hydroponic Grasia Farms; ANHB General Trading LLC, which specializes in the production of queen bees, honey bee supply, production and packaging in more than 5 Arab countries; Seven One Foodstuff Trading, which imports and distributes high-quality food products at competitive prices; Maamal Nahel Food stuff, which enjoys a prominent position in the UAE and the Gulf region’s food industries since its establishment in 2008; and two restaurants include Sushina and Black Falcon.

The Fund is working to create new opportunities for its projects by showcasing its products and services in major local, regional, and international exhibitions. Moreover, it helps facilitate new strategic partnerships to support local SMEs, with the aim of exposing them to new markets, ensuring their continued success, and increasing their positive economic impact.

Background Information

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.