The Chamber of Commerce and Industry in Umm Al Quwain (UAQ) has announced new decisions to boost the emirate’s economy. The move is aimed at stimulating growth, encouraging investment, and improving the business environment in the region.
According to the Chamber’s statement, the new initiatives include a range of measures that will support entrepreneurs, businesses, and investors. These include the launch of new services and facilities, the implementation of policies to promote local businesses, and the provision of funding and support to small and medium-sized enterprises (SMEs).
The Chamber has also pledged to work closely with the local government to create a more favorable business environment in the emirate. This includes the implementation of new regulations and the streamlining of bureaucratic processes to make it easier for companies to do business in UAQ.
One of the key initiatives announced by the Chamber is the launch of a new investment fund to support SMEs in the region. The fund will provide financing and other support to businesses that are looking to expand their operations or launch new ventures in UAQ. The Chamber hopes that this will encourage more businesses to invest in the emirate and help to create new job opportunities for local residents.
In addition to the investment fund, the Chamber has also launched a new online platform to support entrepreneurs and startups. The platform, called “UAQ Startups,” provides a range of services and resources to help entrepreneurs launch and grow their businesses. These include training and mentorship programs, access to funding and investment opportunities, and a network of other entrepreneurs and business leaders.
The Chamber has also announced plans to develop new industrial and commercial zones in the emirate. These zones will be designed to attract new businesses and industries to UAQ and provide them with the infrastructure and support they need to succeed. The Chamber hopes that these zones will help to diversify the emirate’s economy and create new job opportunities for local residents.
In addition, the Chamber is looking to expand its network of business partners and is actively seeking investors, entrepreneurs, and innovators who can help the Chamber achieve its goals.
Commenting on the Chamber’s initiatives, His Excellency Sheikh Khalid bin Rashid Al Nuaimi, Chairman of the Chamber of Commerce and Industry in Umm Al Quwain, said: “We are committed to supporting the growth and development of the business community in Umm Al Quwain. These new initiatives are part of our ongoing efforts to create a more favorable business environment in the emirate and encourage investment and entrepreneurship.”
“We believe that by providing support and resources to local businesses and entrepreneurs, we can help to stimulate economic growth and create new job opportunities for our citizens. We are confident that these initiatives will be a success and look forward to working closely with the local government and business community to achieve our goals.”
The Chamber’s initiatives have been welcomed by local businesses and investors, who see them as a positive step towards boosting the emirate’s economy. Many believe that the new investment fund and online platform will be particularly beneficial for SMEs, which often struggle to access the funding and support they need to grow and expand their operations.
Overall, the Chamber’s initiatives represent a major boost for UAQ’s economy and a clear indication of the emirate’s commitment to supporting businesses and entrepreneurs. With a more favorable business environment and increased support for local businesses, UAQ is well positioned to attract new investment and grow its economy in the years ahead.
