The Khalifa Fund for Enterprise Development, an Abu Dhabi government agency, is teaming up with e-commerce company eBay to help small and medium enterprises boost their exports globally.
As part of the partnership, SMEs in the emirate will receive a number of benefits including 200 free listings and a toolbox with a guide on best selling practices on eBay, the Abu Dhabi government media office said on Tuesday, citing a statement from Khalifa Fund.
The collaboration “aims to further enhance Abu Dhabi’s e-commerce ecosystem while also being in alignment with the mandate to diversify the emirate’s economy and increase non-oil exports to international markets”, Khalifa Fund said.
Khalifa Fund is supporting businesses to become fully digital and thrive in the digital economy as part of its e-Empower initiative launched in 2020. Since its inception, e-Empower has partnered with Amazon and its subsidiary Amazon Web Services (AWS), as well as Akshaak and noon to support 1,200 SMEs.
The initiative has been among “the most influential and impactful initiatives that Khalifa Fund has ever launched, with hundreds of hours of guidance and a vast array of Abu Dhabi companies creating their own e-commerce stores”, said Mohammed Al Shorafa, chairman of the Abu Dhabi Department of Economic Development and the Khalifa Fund for Enterprise Development.
Online shopping gained momentum after movement restrictions were placed across the world to stop the spread of the Covid-19 pandemic.
The size of the e-commerce market in the Mena region is expected to grow at a compounded annual rate of 28 per cent to $28.5 billion by 2022, up from $8.3bn in 2017, according to a joint study by Google and Bain & Company.
“As one of our target markets, we see great potential in the UAE and wish to assist local SMEs go global and ease their journey,” Jenny Hui, general manager of global emerging markets at eBay said.
“With over 159 million buyers worldwide in 190 markets and 250 million searches a day, eBay opens the door to any local business to become a global player. Last year alone, we saw growth of over 28 per cent of UAE sellers on eBay, and we plan to continue and extend our support to local businesses, via different growth and support programmes customised for every relevant business”.
AUSTRALIA SQUAD
Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
The five pillars of Islam
Killing of Qassem Suleimani
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
Results
ATP Dubai Championships on Monday (x indicates seed):
First round
Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
Fernando Verdasco (ESP) bt Thomas Fabbiano (ITA) 3-6, 6-3, 6-2
Marton Fucsovics (HUN) bt Damir Dzumhur (BIH) 6-1, 7-6 (7/5)
Nikoloz Basilashvili (GEO) bt Karen Khachanov (RUS x4) 6-4, 6-1
Jan-Lennard Struff (GER) bt Milos Raonic (CAN x7) 6-4, 5-7, 6-4
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses
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