Dubai, October 30, 2004: The Department of Economic Development (DED) announced the launch of a new walk-in service for UAE national entrepreneurs from the Small and Medium enterprise segment, by means of which they can obtain an instant pre-feasibility evaluation for their proposed business ideas.

According to the announcement, UAE nationals with the intention and project ideas to set up business establishments in Dubai can contact the SME Sector Development Section of the Business Sector Development Division at DED for a free and instant pre-feasibility evaluation.

"The growth of the SME segment enhances competition and entrepreneurship and encourages nationals to contribute to the economy by taking up the challenge of self employment," said Mr. Fareed Al Abdulla, Executive Supervisor, Business Sector Development Division, Department of Economic Development (DED). "One of the strategic objectives of the DED is to create a supportive environment for the development of national-owned small and medium enterprises, as the growth of this segment will truly reflect the growth of the country," he added.

"There is no dearth of talent among our national entrepreneurs but often they do not recognize the valuable potential in their own ideas. The pre-feasibility study service from the DED is a mechanism to encourage our national youth to develop their ideas through proper channels," he added.

Nationals with ideas for setting up business establishments can walk in without prior appointment to the SME Sector Development Section at the Business Sector Development Division of DED to get their ideas evaluated. Officials at the Division will assist entrepreneurs to assess their ideas instantly by means of a set proforma that has been developed internally by DED officials.

Once assessed, the DED will also direct the potential entrepreneur to appropriate channels in order to help them to fill in the gaps in the background research. In addition, the SME Sector Development Section will also offer guidance on further steps and procedures required to develop a business plan, apply for adequate finance and set up the business establishment.

National entrepreneurs interested in availing this service can call the SME sector development section at 2020273 or simply walk into the Business Sector Development Division on the second floor of the DED offices to avail of the pre-feasibility study for their business ideas.

-Ends-  

Note to Editors:
About Department of Economic Development (DED):
The Department of Economic Development (DED) was established in March 1992, with the objective to organise, regulate and boost trade and industry within the Emirate of Dubai. The DED has moulded its mission of building a futuristic establishment, in accordance with the vision of the Government of Dubai and in the light of globalisation and the requirements of a digital economy. One of its key functions is to encourage local and foreign investments in commercial and industrial projects, and create the appropriate environment for investors. 

The DED's other functions comprise a wide range of regulatory activities including the preparation and maintenance of a commercial register and the supervision of all organisations. The DED is responsible for regulating the affairs of commercial agents and brokers and commercial advertising offices, in addition to overseeing and controlling the insurance industry in the Emirate. Examining the participation of the government in the private sector and representing the government in companies where it has a stake, also comes under the purview of the DED.

For further information, please contact:
Sameh Hamtini / Sudha Chandran
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East and North Africa
P O Box 28063,
Dubai,
UAE
Tel : (971 4) 3344550;
Fax : (971 4) 3344556
Email : info@asdaa.com 

© Press Release 2004