ABU DHABI, (Pakistan Point News - 11th Nov, 2020) Mohammed Ali Al Shorafa Al Hammadi, Chairman of the Abu Dhabi Department of Economic Development and Khalifa Fund, KF, has hosted a delegation led by Khasan Khakimov, Vice Prime Minister of the Chechen Republic and Chairman of Zayed Fund for Innovation and Entrepreneurship.
The two parties discussed prospects for cooperation in ways to enhance the field of entrepreneurship and the promotion of innovation in the Chechen Republic. Moreover, the 2021 Strategic Plan for the Zayed Fund was discussed and approved.
Zayed Fund was established and set up by Khalifa Fund in 2017 in Grozny, the Chechen capital, with a capital of $50 million under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to support the empowerment of women and youth by developing their entrepreneurial skillset, as well as to contribute to the growth of the local economy.
Al Hammadi stated, "Zayed Fund for Innovation and Entrepreneurship, which was launched by the Khalifa Fund, aims to spread the culture of innovation and entrepreneurship among the Chechen community and achieve high growth rates in their local economy. The initial indicators of the Fund’s performance reflect remarkable success in the field of youth integration; enabling them to contribute effectively to economic activities and help them build a sustainable knowledge-based economy.
"Khalifa Fund will continue to support the Zayed Fund for Innovation and Entrepreneurship through the provision of technical, financial and administrative counselling. Furthermore, Khalifa Fund will evaluate plans, programmes and initiatives that will be put forward to reach an ideal and effective model in the field of support and promotion of entrepreneurship and the development of the SME sector in the Chechen Republic," Al Hammadi said in conclusion.
Khasan Khakimov said, "On behalf of Ramzan Kadyrov, The Head of the Chechen Republic, and on behalf of the Government of the Chechen Republic, we would like to thank Khalifa Fund staff and the Government of Abu Dhabi for their continuous support of Zayed Fund activities. Having access to Khalifa Fund’s extensive knowledge base, experience and guidance has allowed us to make significant progress in creating sustainable economic and social impact for the Chechen Republic through focused support of SMEs. We are looking forward to increasing our mutual collaboration with Khalifa Fund and UAE SME and innovation support ecosystem stakeholders, especially regarding our Zayed InnoHub activities."
"We would also like to invite Al Hammadi and the management of Khalifa Fund to visit our office in Chechnya once the situation with COVID-19 stabilises," he added.
