24 C
Dubai
Saturday, December 21, 2024
spot_img

Ruwad funds three Q2 projects

Ruwad, affiliated with the Sharjah Economic Development Department, approves funding for three projects after assessing 15 requests in different sectors from April to June. The Chairman of the Sharjah Economic Development Department, Sultan Abdullah bin Hadda Al Suwaidi, praised government support for small and medium enterprises, motivating them to establish more commercial, service, and industrial projects, contributing to Sharjah’s economic growth.

Hamad Ali Abdullah Al Mahmoud, Director of Ruwad, highlighted the significant interest in the Foundation’s initiatives and services during the second quarter, with a growing number of entrepreneurs seeking to establish individual and group projects. The government purchases from Ruwad members surpassed AED 968,000 during this period.

In the second quarter, 102 projects applied for Ruwad membership, with 66 being approved, and 69 projects received approval for membership renewal, exempted from government fees. Additionally, the membership of 14 projects was extended for the fourth or fifth year with a 50% fee exemption.

Regarding project classification, the food sector constituted 39.4% of the approved projects, followed by women’s fashion design and sewing (9.1%), beauty centers (7.6%), car maintenance (6.1%), and trading flowers, natural plants, and car washes (4.5%). Other fields like law firms, fitness clubs, restaurant management, perfume trade, gift trade, and others accounted for 1.5% each.

Next Article

Related Articles

The UAE’s Cryptocurrency Laws and Investment Possibilities

The UAE's Cryptocurrency Laws and Investment Possibilities Authorities like the Securities and Commodities Authority (SCA) and the UAE Central Bank govern the capital and financial...

What Limits Gamers Face in the UAE

What Limits Gamers Face in the UAE The United Arab Emirates (UAE) has become a growing hub for technology and entertainment. However, when it comes...

UAE Team Emirates Accelerates to New Heights: Landmark Sponsorship with XRG Fuels Future Success

UAE Team Emirates cycling team, renowned for its achievements on the global stage, has announced a groundbreaking six-year sponsorship agreement with the Emirati energy...

Irishman Stuart Quiney Freed from Dubai Jail: Triumph of Advocacy and Safe Return to Dublin

Irishman Stuart Quiney, whose case garnered international attention after he was detained in Dubai over allegations of sending "threatening" emojis, has been released and...

Dubai Stocks Soar to Decade-High: Real Estate and Finance Drive Record Gains

Dubai's stock market has achieved remarkable growth, soaring to its highest levels in over a decade, thanks to strong performances from key sectors such...

Latest Articles