Khalifa Fund for Enterprise Development, UAE entrepreneurship, and SME development organization had partnered up with Majid Al Futtaim Hypermarkets, with the aim of developing UAE’s entrepreneurial ecosystem by supporting local entrepreneurs and SMEs.
Through the Memorandum of Understanding (MoU) signed between the two parties, Majid Al Futtaim Hypermarkets will be selecting suppliers from Khalifa Fund members, review their businesses, and provide them with the necessary training. The selected suppliers will also have a dedicated space to showcase their products in the stores, following standard safety and hygiene procedures.
According to a statement made, the overall objective of the partnership is to create a suitable business environment for suppliers of fresh food, grocery, light household, textile and electronic products to thrive in. Additionally, the Khalifa Fund hopes that the tie-up will provide the best facilities for local enterprises, and help develop Emiratis’ skills and capabilities.
Ahmad Khalfan Matar Al Rumaithi, Senior Manager, Entrepreneurship Development – Support & Membership at Khalifa Fund commented on the joint partnership stating that the agreement will enhance their cooperative efforts with the management and operation of leading groups in the UAE by providing facilitation for projects supported by the Fund. “We are keen to establish strong relationships with various local economic institutions aimed at contributing to the growth of the local economy and increase penetration to the market,” he said.
Philippe Peguilhan the Country Manager of Carrefour UAE at Majid Al Futtaim Retail adds that the main objective of this partnership is to focus on “maintaining the highest standards of quality within the retail industry by backing local businesses and projects managed by the [Khalifa] fund.”