The training program for small and medium enterprises (SME) currently being conducted by the Department of Economic Development (DED) has generated tremendous interest among United Arab Emirates (UAE) national entrepreneurs who would like to start their SME projects. The courses attracted 100 percent registration for the allocated seats while attendance turnout was 95 percent.
“Global statistics show that small and medium businesses account for 90 percent of the global business,” said Economic Researcher, Small and Medium Enterprises Development Section, DED, Fareed Abdulredha. “The SME sector is one of the major contributors to the development of the business environment in any country, as it helps in creating new jobs and bringing fresh expertise and ideas to the business environment,” he added.
“Dubai is focusing on improving this sector and ensuring its continuous growth so that we can guarantee a better future for businesses here in Dubai,” he said. “That is why the DED is focusing on upgrading local entrepreneurial skills and providing nationals with appropriate training and expertise, so that they can successfully manage their projects.”
The seven courses on offer include guidance on innovative ways of choosing projects, the basics of establishing successful projects, conducting feasibility studies, management and organization of successful projects, calculation of costs and the financial aspect of a project, establishing a systematic accounting system for SMEs and measuring achievements. Training is conducted through lectures and interactive sessions and includes discussion on role models and case studies.
DED was established in 1992, with the objective to organize, regulate and boost trade and industry within the Emirate of Dubai. DED has moulded its mission of building a futuristic establishment, in accordance with the vision of the Government of Dubai and in the light of globalization and the requirements of a digital economy. One of its key functions is to encourage local and foreign investments in commercial and industrial projects, and create the appropriate environment for investors.
The DED’s other functions comprise a wide range of regulatory activities including the preparation and maintenance of a commercial register and the supervision of all organizations. The DED is responsible for regulating the affairs of commercial agents and brokers and commercial advertising offices, in addition to overseeing and controlling the insurance industry in the Emirate. Examining the participation of the government in the private sector and representing the government in companies where it has a stake, also comes under the purview of the DED. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
