Sharjah Economic Development Department ‘SEDD’ in cooperation with Sharjah Foundation for Supporting Entrepreneurship ‘RUWAD’ organised a workshop dealing with preparing feasibility studies for industrial projects in Sharjah.

The workshop aimed at introducing participants to the basics of feasibility study, ways to develop projects, and principles of managing the administrative, financial, and marketing aspects of industrial projects.

Several young entrepreneurs who own industrial projects and a number of students from the University of Sharjah specialising in business administration in industrial engineering attended the workshop.

The workshop, presented by Advisor Rashid Sawaqed, Project Development Advisor at RUWAD Foundation, discussed the importance of marketing feasibility studies, which depend on collecting, recording and analysing market, technical and financial data for the project, in addition to studying the environmental and social impact of the project.

Also, the workshop highlighted methodologies for developing existing projects, improving productivity rates, quality of services, and increasing income. It should be noted that such a workshop aims to provide attendees with the latest methods for preparing economic feasibility studies for projects and all means that will help them develop their investment initiatives in this vital field.In this context, SEDD called on young entrepreneurs to benefit from the support and facilities provided by ‘RUWAD’ Foundation.

Commenting on that, Hamad Ali Abdullah Al Mahmoud, SEDD Chairman, said that the Department works according to the wise directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the continuous support of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Executive Council, who called for helping young citizens to join markets and practice economic work.

Also, their Highnesses called for supporting the businesses of such category, their initiatives and ideas to lead them to success and sustainability to enhance economic work and process in the emirate. Additionally, SEDD constantly seeks to provide all training services, overcome obstacles, and create a stimulating environment for the success of their projects, which contributes to the growth of the economic sector in Sharjah and maintains its quality and sustainability.

From her side, Mariam Nasir Al Suwaidi, Deputy Director of Industrial Affairs Department at SEDD, confirmed that the Department focuses on informing investors about SEDD services and its strategic objectives aimed at empowering national industries and enhancing the competitiveness of Emirati products, and emphasising that its works provide a suitable industrial business environment for local and international investors. This is done to ensure sustainable industrial development while providing consultations and technical support to entrepreneurs and their affiliated factories, with the aim of studying all the challenges and difficulties facing them to come up with supportive results, recommendations and decisions that enhance these industrial investments in the emirate.

Also, Al Suwaidi stressed that SEDD works on encouraging innovation and adopting advanced technology and tools of the Fourth Industrial Revolution, in addition to providing a stimulating environment and capabilities to attract specialised talents.

On the other hand, Fatima Al Ali, Director of Project Support and Funding Department at ‘RUWAD’ Foundation, pointed out that the Foundation works on supporting and enhancing the culture of entrepreneurship among young citizens by providing an attractive environment for entrepreneurs and project owners, by offering them with scientific and practical as well as marketing training platforms, and institutions concerned with supporting them and providing all elements of success for them.

She carried on that 'RUWAD' also pays great attention to organising training courses regularly to attract young people who want to enter the field of entrepreneurship. She stated that the Foundation provides the opportunity for young people to present their ideas and projects to the Foundation through such workshops, which in turn studies executable projects and help their owners start their businesses

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