The Sharjah SME “Ruwad” has introduced the industrial sector financing program, with a financing ceiling of up to $217,805.60 (AED800,000), in addition to other advantages related to the grace period and payment methods.
The program comes as part of its efforts to elevate the entrepreneurship landscape in the Emirate of Sharjah. Hamad Ali Abdullah Al Mahmoud, Chairman of Sharjah Economic Development Department, stated that the new financing program approved by the Project Financing Committee in “Ruwad”, falls within Ruwad direct financing programs.
The Chairman highlighted the industrial sector’s pivotal role in Sharjah’s economy, pointing out that it’s a top priority for Sharjah government as its a basic pillar for driving the gross domestic product (GDP) and generating new jobs in the labor market.
Al Mahmoud emphasized Ruwad’s commitment to supporting the young citizens in starting projects that elevate the position of Emirati industries, and working to implement initiatives and programs that enhance and promote the products of these projects both locally and globally.
The industrial sector financing program encompasses a wide range of priority industrial activities and products, it includes projects in the agricultural sector, food industries, spare parts and equipment manufacturing, aluminum and iron works, in addition to cleaning, sterilization and personal care products (detergents, perfumes, etc.), and other fields that can be viewed and learned about through Ruwad website.
Ruwad empowers small and medium-sized national projects in this sector with financial, advisory and technical support. Fatima Al Ali, Acting Director of Ruwad, stressed that Ruwad has intensified the implementation of training programs and advisory sessions for owners of industrial projects, enabling them to unlock new opportunities and adopt the latest new industrial technologies.
In 2024, Ruwad carried out 6 specialized training programs for industrial sector projects, benefiting 84 entrepreneurs, including 27 men and 57 women.
The implemented training agenda included the industrial projects development program within the classification and evaluation program for member projects, and 4 industrial sessions of the “Make in Sharjah” initiative. Four training sessions focused on the restaurant, confectionery, health and beauty, and metals and pumps industries.
