Khalifa Fund and ABB Automation singed MoU to support the culture of entrepreneurship
09/06/2014 4:15 pm EDT


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Khalifa Fund for Enterprise Development and ABB the leading power and automation technology group, signed an agreement aiming to improve the capabilities of Khalifa Fund’s counselors as well as the entrepreneurs in entrepreneurship field.

The agreement was signed in Khalifa Fund’s headquarter by H. E. Ibrahim Ahmed Al Mansoori the Chief Operating Officer of Khalifa Fund, and Mr. Pierre Leretz, President, Process Automation, India, Middle East and Africa (ABB Automation LLC) with presence of delegates from both parties.

According to the agreement, ABB will organize training sessions and workshops for the Fund’s business counselors to enhance their abilities in evaluating the projects. In addition, training sessions will be organized for the Fund’s members who would like to establish their own business.

The MOU stated the commitment of ABB’s Process Automation Division to organize about 100 hours of training that will be split. The first 30 training hours will be specialized in the management topics such as human resources, legal, finance, communication, occupational health, quality and many other topics. The remaining 70 hours will be dedicated for the practical part of establishing a business.

“This agreement shows a great example of the association between the private and government sectors. That will allow the Fund’s members to benefit from the experience ABB has in organizing specialized trainings and workshops. In addition, the chance to get counseling and mentoring from ABB and being training inside the company to gain practical experience. On the other hand, this agreement will allow the Fund’s counselors to improve their knowledge on how to evaluate business ideas which will help in serving the entrepreneurs in a better manner,” said Al Mansoori.

“We at ABB are proud of signing this landmark agreement with Khalifa Fund. We believe in empowering young, local population with the right skillsets especially for an industry as specialized and advanced as the power and automation industry. ABB will continue working with local institutions to establish an effective framework to boost the skills of UAE nationals, “said Pierre Leretz, President and Region Division Manager for India, Middle East and Africa of the Process Automation Division of ABB.

“Over the last hundred and more years, ABB has set the pace for innovation in technologies to harvest energy, improve productivity, safeguard the environment, increase profits, and more. Our modern-day power and automation technologies are derived from the efforts of thousands of talented individuals worldwide. So, we understand the need to recognize and nurture talent and hope to continue with that endeavor in the UAE and the wider region as well,” added Leretz.

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