In 2022, Emirates Development Bank (EDB) will launch a Dh1 billion fund for industrial startups
and Small and Medium Enterprises (SMEs) in priority sectors requiring financing and investment.
Companies and entrepreneurs will also be offered training, counselling and guidance for UAE
citizens and residents.
“Operation 300bn” launched in March 2021 by His Highness Sheikh Mohammed bin Rashid Al
Maktoum, Vice President of UAE and Ruler of #Dubai has already allocated Dh30 billion for
financing SMEs and to help create 25,000 industrial jobs.
The strategy extends the bank’s role in advancing the national economy. Since its inception, the Bank has supported 550 companies, allocating Dh1.8 billion business loans to SMEs and it has provided housing loans worth Dh2.4 billion, besides its $750 million 5-year Senior Bond under a $5 billion programme.
HH Sheikh Mohammed commented: “The Emirates Development Bank Strategy presents a giant leap that will leverage the Bank’s role as a key driver of the national economy. Providing effective financial solutions will support the role of SMEs as main players in shaping our national economy,”
#UAE, foremost in the Middle East, ranks 16th globally in the Ease of Doing Business index.
Therefore, given this new financial package, the nation is set to become a more attractive business
environment for local #entrepreneurs and #SMEs.
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One of the most frequently incorporated commercial entities in the UAE is a Limited Liability Company (LLC). Under the law a limited liability company must have one or more local partners (shareholders) who must be a UAE national or a UAE company. The local partners are required to possess a minimum of 51% shareholding in the LLC.
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