UAE, Jordan Sign $100 Million Agreement To Promote Entrepreneurship - First & Final Add

The $100 million agreement was signed by Hussain Jasim Al Nowais, Chairman of Khalifa Fund for Enterprise Development, and Fawaz al-Zu'bi, President of the Crown Prince Foundation's Board of Trustees.

AMMAN, (UrduPoint / Pakistan Point News / WAM - 20th Nov, 2018) The $100 million agreement was signed by Hussain Jasim Al Nowais, Chairman of Khalifa Fund for Enterprise Development, and Fawaz al-Zu'bi, President of the Crown Prince Foundation's board of Trustees.

It states that both countries will support creativity and innovation and develop entrepreneurship in line with their respective national strategies, taking into account the national regulations and policies in the UAE and Jordan. Under the agreement, both parties undertake to implement major programmes and special initiatives to support innovation and the growth of microfinance and SMEs, in addition to contributing effectively to building the capacities of women, youth and people from disadvantaged areas, with the aim of fueling an entrepreneurial culture among the youth.

Commenting on the development, Al Nowais said: "The agreement reflects the depth of relation between the two countries. It aims to strengthen cooperation with regional and international institutions that support entrepreneurship and SMEs, in addition to collaborating with one of the leading organisations in Jordan, committed to building a bright future for the Jordanian youth and women. We affirm our keenness to establish strong relations with the various regional economic and social institutions in order to support the local economy and promote trade between the UAE and Jordan."

He added: "Through this strategic cooperation with Jordan, we aim to replicate the success stories of Abu Dhabi and the UAE, which have become beacons of entrepreneurship and youth empowerment and a model of outstanding achievements."

Dr. Fawaz al-Zu'bi hailed the significant support provided by the UAE across all fields, noting that the distinguished ties between the two countries are a role model for brotherly relations.

He added: "Our partnership with Khalifa Fund will support the Jordanian youth in general, and those belonging to disadvantaged areas in particular. We will prioritise supporting SMEs and microenterprises as they complement many of our projects and play a great role in promoting the overall economic development process in Jordan. Through this partnership, we aim to strengthen the role of the youth in leading this development process. We will exchange our experiences with Khalifa Fund and together, we will create new success stories to be added to Khalifa Fund’s rich repertoire of similar initiatives in many countries around the world."

The signing was attended by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation; Ali bin Hammad Al Shamsi, Deputy Secretary-General of the Supreme National Security Council; Khaldoon Khalifa Al Mubarak, Chairman of Abu Dhabi Executive Affairs Authority; Yousef Mana'a Al Otaiba, UAE Ambassador to the US; Mohamed Mubarak Al Mazrouei, Under-Secretary of the Abu Dhabi Crown Prince's Court; Mattar Saif Sulaiman Al Shamsi, UAE Ambassador to Jordan; Lt. General Issa Saif bin Ablan Al Mazrouei, Deputy Chief of Staff of the Armed Forces; and Hussein Jassim Al Nowais, Chairman of the Khalifa Fund for Enterprise Development.

Prince Faisal bin Hussein, Prime Minister Omar al-Razzaz, Minister of Foreign Affairs and Expatriates Ayman Al Safadi along with a number of senior officials and dignitaries attended the signing from the Jordanian side.