Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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In collaboration with the local emergency and crisis team in Sharjah, the Sharjah Entrepreneurship Foundation “Ruwad,” affiliated with the Department of Economic Development, has adopted a package of incentives and supportive measures for its member projects affected by the recent weather conditions in mid-April.
In this context, Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, stated that the foundation is committed to continuing to support national projects affiliated with its membership and standing by them in all circumstances and challenges. This aims to ensure that business operations continue uninterrupted, allowing them to provide services and products to customers while also assisting them in compensating for any unexpected costs or expenses.
He explained that the incentive and support package provides affected projects with 100% priority funding for project assets like equipment, furniture, and raw materials. In addition, affected projects may be able to defer direct financing instalments and receive a repayment grace period of up to 6 months.
In addition, the foundation will monitor the implementation of the external support plan in collaboration with its strategic partners from governmental, semi-governmental, and private sector organisations. The plan also includes exemptions from temporary permit fees if the project relocates to another location to continue operations uninterrupted, as well as prioritising affected projects in designated spaces within government entities such as the Department of Economic Development for project operation.
