The Ministry of Finance has signed a Memorandum of Understanding with the Sharjah Foundation for Supporting Entrepreneurial Projects (Ruwad), an affiliate of the Sharjah Economic Development Department, to boost national projects and support small and medium-sized enterprises (SMEs).

The MoU is part of the National Entrepreneurship Campaign, The Emirates: The Startup Capital of the World, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. It aims to reinforce the UAE’s position as a global hub for entrepreneurship and provide youth with access to integrated support programmes and initiatives.

The agreement seeks to expand SME participation in government procurement, foster innovation, and strengthen the integration of federal and local efforts to drive growth, digital transformation, and job creation. It also outlines cooperation in training, qualification, and information exchange.

Younis Haji AlKhoori, Under-Secretary of the Ministry of Finance, said the agreement reflects the Ministry’s vision to empower entrepreneurs and support their role in economic diversification and sustainable job creation. He noted that more than 600 SME suppliers are already registered on the government’s digital procurement platform, which has streamlined processes in line with the Zero Government Bureaucracy Programme.

Hamad Ali Abdullah AlMahmoud, Chairman of the Sharjah Economic Development Department, said the partnership will empower Ruwad members and enhance their nationwide reach, supporting the UAE’s ambition to expand SME contributions to the economy.

The Ministry of Finance continues to back SMEs through strategic policies and initiatives, including the Mohammed bin Rashid Innovation Fund, which provides financing guarantees and non-financial support to entrepreneurs.