Posted by Neil King
The government of Ras Al Khaimah has authorised a new business plan aimed at improving opportunities for small and medium-sized enterprises (SMEs).
Named in honour of the crown prince and deputy ruler of Ras Al Khaimah, the Saud bin Saqr Programme for Young Business Leaders grants SMEs registered with the programme preferential treatment in the awarding of purchase contracts and access to other business opportunities relating to government departments and industrial firms.
Yousef Obaid Al Nuaimi, chairman of the RAK Chamber of Commerce and Industry, confirmed that 11 government establishments and leading industries in the emirate had signed agreements to strengthen cooperation with SMEs acting under the programme.
He commented: "The Saud bin Saqr Programme aims to promote the entrepreneurial spirit of UAE national youth to create successful business ventures that would enhance their contribution to national development."
The new initiative has been launched to mark the seventh anniversary of the appointment of Sheikh Saud bin Saqr Al Qasimi as the crown prince and deputy ruler of Ras Al Khaimah.