Al Darmaki: 500 members benefited from Khalifa Fund’s Tawasul events

June 25, 2014 1:19 pm

H. E. Abdullah Saeed Al Darmaki the Chief Executive Officer of Khalifa Fund for Enterprise Development, said, “About 500 of Khalifa Fund’s members attended Tawasul Events and benefited from them in building complementary relations between the members and to open new commercial prospective for them.”

Al Darmaki also mentioned, in his speech during the opening of 7th Tawasul event which is organized in Fujairah today, that after launching Hesabat initiative last year the Fund completed transferring 135 projects to this initiative which aims to provide financial data in regular basis for the projects under the Fund’s umbrella.

Al Darmaki expected increase in the number of projects under Hesabat initiative to 220 projects by end of this year, as registering in Hesabat is compulsory to all members to get advantage from the Fund’s services. Al Darmaki emphasizes on the importance of Hesabat initiative that targets on providing data and audited financial reports for all projects supported by the Fund as part of its efforts to apply the financial efficiency program. In addition, he emphasizes on the importance of registering in Khalifa Fund’s Gateway to benefit from the Fund’s services.

“The Fund will continue its effort to prepare the appropriate environment for businesses to growth and development of the small and medium enterprises sector in all over the world, as the Fund’s team is working hard to increase the competitive of those projects and to enhance them to take part of the local market,” said Al Darmaki. “The Fund is working hard to urge the government, semi-government and private entities to give the small and medium enterprises privileges that contribute to its growth and support its success. In this regards, the Fund signed memorandum of understanding with more than 46 entities. There is great and positive response and cooperation from those entities however, we hope for more facilities and privileges to our projects such as registration in suppliers’ record, exemptions of tenders’ guarantee and priorities in entering the tenders with limited amount. The success of those projects are the lead to the success of the Fund’s strategic plans,” added Al Darmaki.

“The Fund’s management is very keen in communicating with the entrepreneurs to listen to their opinions, ideas and to understand the obstructs they are facing. We urge all concerned departments in the Fund to communicate with the applicants and to try their best to support them”, said Al Darmaki
Sufian Awwad from Entrepreneurship Development Department did a presentation about Hesabat Initiative in which he said, “Khalifa Fund nominated number of certified companies to provide accounting and audit reports’ preparation. The Fund makes a deal with these companies to provide the services to the Fund’s applicants with competitiveness prices and high quality.” “List of companies’ names with their services and prices will be published based on the agreement between them and the Fund in Khalifa Fund’s Gateway on:,” added Awwad.

Mohamed Matar Al Shamsi from Enterprise Development and Support Department did a presentation about the registration mechanism in KF Gateway and the ways of membership activation, that is a compulsory to receive the Fund’s services.

“The Fund re-launched KF gateway to be a platform for the Fund’s projects to the social market and to enable them to market and promote their products and services in effective way. In addition to communicate with government, semi-government and national entities as well as to communicate between applicants,” added Al Shamsi.

Al Shamsi also presented the mechanism to get the benefit of SME Toolkit that Khalifa Fund launched in association with International Finance Corporation that gave wide range of information and gaudiness for entrepreneurs. Tawasul event also included a performance by a representative from Ministry of Environment and Water included the requirements for business establishment and the counselling services that can be provided for projects with environmental aspects.

In addition, a representative from Kalba Municipality did a presentation about the patch of services and facilities the municipality gave for the entrepreneurs of small and medium enterprise. He also emphasizes on the municipality desire to secure the best business environment. A representative from Lulu Hyper-Market group made a presentation about the facilities, services and exemption given to Khalifa Fund’s applicants in different outlets in the United Arab Emirates. In addition, he presented the procedures and conditions to supply to Lulu and the possibilities for future cooperation with the Fund’s applicants.

Tawasul event included a presentation for 3 projects in various fields have benefited from the services of Khalifa Fund where they spoke about their experiences. Those projects are Al Dhafra International Lubricant Oil Factory for Mosabbah Al Braiki, Fujeirah Physiotherapy Centre for Dr. Abdullah Al Ali and Vision Electronics for Salim Al Kindi. At the end of the even, a discussion was made about the major challenges faced by the Fund’s members and the ways to overcome them. In addition to many proposals that the Fund’s management promised to take into consideration when they provide any service that aim first and foremost to achieve the interests of small and medium enterprises and to enable them to contribute to the economic development in the country.

It is worth saying that Tawasul aims to promote communication and interaction among the owners of the projects funded by Khalifa Fund and to enable them to build a network of relationships that increase the efficiency of those projects and the promotion of integration and complexity to the benefit of them.