The Mohammed Bin Rashid Establishment for SME Development today launched its new corporate identity in line with the instructions of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, who issued a new law restructuring the Establishment. According to the new law, the responsibilities and the tasks of the Establishment are expanded to include the development of the SME sector. Small and medium enterprises are now envisaged to play a more effective role in supporting the economic growth of Dubai.
The new law encompasses the restructure of the Mohammed Bin Rashid Establishment for Young Business Leaders, which was launched as per Law No. 15 of 2002, and changes the Establishmentâ€™s name to Mohammed Bin Rashid Establishment for SME Development. It also identifies a set of goals that focus on small and medium businesses to drive economic growth and contribute to strengthening the Dubaiâ€™s position as a hub for entrepreneurship, enterprise development and promoting of innovative ideas.
Commenting on the launch of the new Corporate Identity, Abdul Baset Al Janahi, CEO, Mohammed Bin Rashid Establishment for SME Development, said: â€œThe new corporate identity reflects the steps taken by the Establishment following the new law that covers different operational areas to boost the development of the SME sector. SMEs are a main pillar of growth for the Dubai economy.”
He added: â€œWe look forward to making the SME experience in Dubai as a reference point for the whole sector not only in the UAE but also in the GCC and world wide. Since its inception, the Establishment has placed emphasis on practical concepts for driving the growth of the SME sector, and facilitated the development of the sector to attain the highest international standards.â€
The new corporate identity will be publicised through key publications and other media channels. Represented in both Arabic and English, the new identity is a simplified unit that has lines in different colors representing the different sectors in SME and the six different services offered by the Establishment including Tawjeeh, Jusoor, Usus, Kafaat, Sanad and Rass al mal.
About Mohammed Bin Rashid Establishment for Small and Medium Size Enterprises:
In September 2009, His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai issued Law No.23 of 2009 concerning the Mohammed Bin Rashid Establishment for SME development, recently renamed the Mohammed Bin Rashid Establishment for Young Business Leaders. The new law confirms the commitment of Dubai Government to support the development of SMEs sector.
The law defines the goals and responsibilities of the establishment. Given that SMEs include 98.5% of registered business in Dubai, with 61% of the work force working in this sector. The law aims to strengthen Dubaiâ€™s position as a centre for entrepreneurship and enterprise development based on innovation and intellectual property.