UAE | General
City backs Emirati youths' ventures
Dubai Municipality signed a Memorandum of Understanding with the Mohammad Bin Rashid Establishment for Young Business Leaders yesterday to support business projects of young Emiratis.
- Staff Report
- Published: 00:39 March 24, 2008
Dubai: Dubai Municipality signed a Memorandum of Understanding with the Mohammad Bin Rashid Establishment for Young Business Leaders on Sunday to support business projects of young Emiratis.
The agreement seeks to extend effective steps to translate into reality the vision of the establishment of supporting the efforts of young nationals in setting up small and medium business projects and enabling them improve their professional expertise and talents as it was laid out by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The agreement was signed on behalf of Dubai Municipality by Engineer Hussain Nasser Lootah, Acting Director General of Dubai Municipality, and Abdul Basit Al Janahi, CEO, Mohammad Bin Rashid Establishment for Young Business Leaders.
Under the Memorandum of Understanding, both sides will set up joint programmes and cooperate in creating investment opportunities for young Emiratis as well as strengthen and establish relations between them and support the setting up of small and medium business projects for them.
Both aim to encourage and guide entrepreneurs towards active participation in the development of the local community by helping them invest in productive projects that could benefit society.
To achieve the objectives of the MoU, both parties will organise a media campaign urging young businessmen to invest in areas and amenities available with Dubai Municipality.
They will also take into consideration suggestions of viable investment opportunities and projects at the sites available with the municipality. The agreement also calls for joint meetings, seminars and training programmes.
Under the MoU, the municipality will provide suitable places at the sites and amenities available with it for investment by youngsters and Mohammad Bin Rashid Establishment for Young Business Leaders.
The municipality will also offer all possible facilities to youngsters during the implementation of the projects at the municipality sites and amenities. It will also give priority to youngsters in selecting sites where they wish to set up projects and other existing projects inside the sites and amenities.
According to the MoU, the Mohammad Bin Rashid Establishment for Young Business Leaders will provide all data about the young beneficiaries of its services who wish to set up permanent as well as temporary projects at the municipality sites and amenities.
It will also offer recommendation letters to the municipality to provide appropriate places for setting up permanent or temporary projects for all young beneficiaries of the establishment's services.
Supervision
The establishment will supervise and follow up to ensure that all its beneficiaries are complying with the rules and regulations of the municipality.
To follow up the implementation of the MoU, both sides have decided to form a joint action team.
The signing ceremony was attended by senior officials of Dubai Municipality and the Mohammad Bin Rashid Establishment for Young Business Leaders.
Move aims to guide Emiratis towards active participation in the development of the local community.
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