DM, Mohammed Establishment ink MoU to support investment by Emirati youth

DUBAI - The Dubai Municipality and the Mohammed bin Rashid Establishment for Young Business Leaders yesterday signed a memorandum of understanding (MoU) for supporting the projects of young businessmen in Dubai.



By A Staff Reporter

Published: Mon 24 Mar 2008, 8:33 AM

Last updated: Sun 5 Apr 2015, 6:48 PM

The agreement was signed by Hussain Nasser Lootah, Acting Director-General of Dubai Municipality, and Abdul Basit Al Janahi, CEO, Mohammed bin Rashid Establishment for Young Business Leaders.

The agreement seeks to take effective steps to support the efforts of young nationals in setting up small and medium businesses and enabling them to improve their professional expertise.

As per the MoU, both the sides would start joint programmes and cooperate to create investment opportunities for youngsters.

Both would encourage and guide youngsters towards active participation in the development of the local community by making them invest in productive projects that would benefit the members of the society.

Both parties would organise a media campaign urging youngsters to invest in different areas and amenities available with Dubai Municipality.

The MoU also envisages organising meetings, seminars and training programmes for youngsters.

The municipality would provide suitable places at its sites and amenities available with it for investment by youngsters.

It would also give priority to youngsters in selecting sites where they wish to set up projects.

According to the MoU, Mohammed Bin Rashid Establishment for Young Business Leaders shall provide all data about the young beneficiaries of its services who wish to set up permanent as well as temporary projects inside the municipality sites and amenities.

The establishment would supervise and follow up to ensure that all its beneficiaries are complying with the rules and regulations of the municipality.

To follow up the implementation of the clauses of the MoU, both sides have decided to form a joint action team.


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