Signs a MoU to work together for the establishment of a business incubator for Brazilian SMEs in Jafza
Dubai, United Arab Emirates, February 22, 2012: A Memorandum of Understanding (MoU) was recently signed between Jafza and Brazilian Trade and Investment Promotion Agency to support and encourage Brazilian SMEs to establish their initial operations in Jafza to explore opportunities in the UAE and the region.
The MoU was signed by Jafza Deputy CEO, Ibrahim Mohamed Aljanahi and the President of the Brazilian Trade and Investment Promotion Agency Mauricio Borges at a brief ceremony on the sidelines of a business conference organized on the visit of the Brazilian Trade Mission to the UAE on February 15. The ceremony was attended by Mr. Fernando Pimentel, Minister of Development, Industry and Foreign Trade and other senior Brazilian and Jafza officials.
The MoU provides both parties to work together to lay down the framework for the establishment of Apex-Brasil as a business incubator at Jafza to support Brazilian start-ups to establish their operations in the free zone.
Ibrahim Aljanahi commenting on the collaboration said: "Sustainable growth of the small and medium enterprise sector is very important to the development of economies. This is why Jafza pays special attention to SMEs in the free zone. We are delighted to extend support and encouragement to Brazilian small and medium enterprises to establish their operation in the region from Jafza, which is the gateway to the region's huge consumer markets. We wish the Brazilian entrepreneurs all the success in their enterprise. We hope the initiative will strengthen Brazilian presence in the UAE and the GCC countries"
"Although the incubation set-up in Jafza aims at mainly supporting SMEs but it also provides opportunity to Brazilian companies of any size to explore business potential in the region and expand their operations in future," Aljanahi further added.
Mauricio Borges said: "We are grateful to Jafza's overwhelming support and encouragement to Brazilian entrepreneurs in their pursuit to establish their business in the region. We are confident that this move will support and boost Brazilian exports in the region."
The initiative is expected to further strengthen bilateral trade between Dubai and Brazil. Brazil's total trade with the Middle East is at present estimated at over USD 7 billion.
For any further queries please contact Mr. Var Prasad Rao (Corporate Editor) on +971-50-9400163.
© Press Release 2012
