Ruwad Unveils New Financing Programme For Industrial Sector In Sharjah To Support Entrepreneurs

The Sharjah SME "Ruwad" has introduced a new financing programme aimed at boosting the industrial sector in Sharjah. This initiative offers funding up to AED800,000 and includes benefits like flexible payment methods and grace periods. The programme is part of Ruwad's direct financing efforts, focusing on priority industrial projects to stimulate economic growth and job creation in the emirate.

Hamad Ali Abdullah Al Mahmoud, Chairman of Sharjah Economic Development Department, emphasised the importance of the industrial sector for Sharjah's economy. He stated that it plays a crucial role in increasing the emirate's GDP and creating employment opportunities. "Ruwad" aims to support young citizens in establishing projects that strengthen Emirati industries and enhance their local and international market presence.

The financing programme targets several key industrial activities. It includes projects in agriculture, food industries, spare parts manufacturing, aluminium and iron works, as well as cleaning and personal care products. These initiatives are designed to create a favourable business environment for entrepreneurs in the industrial sector, enhancing its competitiveness.

In 2024, two industrial projects received funding totalling AED550,000. This funding supported both assets and operations. The number of member projects in this sector increased to 17 across various cities in Sharjah. "Ruwad" continues to support small and medium-sized national projects through financial aid, advisory services, technical empowerment, evaluation programmes, training, and development.

Fatima Al Ali, Acting Director of Ruwad, highlighted the organisation's efforts in providing specialised training programmes for industrial project owners. These programmes aim to help entrepreneurs discover new opportunities and adopt modern technologies. In 2024 alone, six specialised training sessions were conducted for 84 entrepreneurs (27 men and 57 women).

The training agenda included an industrial projects development programme within the classification and evaluation framework for member projects. Additionally, four sessions under the "Make in Sharjah" initiative were held. These sessions focused on various sectors such as restaurants, confectionery, health and beauty industries, metals, and pumps.

"Ruwad" is committed to fostering a conducive business environment for entrepreneurs by offering financial support and advisory services. The organisation also conducts field visits to evaluate projects and launch business accelerators aimed at growth and expansion.

This comprehensive approach ensures that Emirati entrepreneurs are well-equipped to succeed in diverse industrial fields while contributing significantly to Sharjah's economic landscape.

With inputs from WAM