Emirates Development Bank offers free consultancy services to SMEs in the UAE

Sep 2, 2022 | Africa, Announcements, Countries, Financing, Home Page, Markets, Sectors, Snippets, United Arab Emirates

According to an Emirates Development Bank (EDB) July 2022 press release, the bank, in partnership with Future Factory, has launched a new initiative to provide free consultancy services to SMEs in the UAE operating in the manufacturing, advanced technology, infrastructure, healthcare, and food security sectors.

According to an Emirates Development Bank (EDB) July 2022 press release, the bank, in partnership with Future Factory, has launched a new initiative to provide free consultancy services to SMEs in the UAE operating in the manufacturing, advanced technology, infrastructure, healthcare, and food security sectors.

Supporting the UAE economy

“We are partnering with Future Factory as they are aligned with our ambition to offer hands-on advice and insight to our customers, hence, supporting our ambition and commitment to the development of the UAE economy. Their experts will visit factories and give advice on the best recommendations on automation, robotics and other methods to re-process engineering,” said Ahmed Mohamed Al Naqbi, EDB’s Chief Executive Officer.

An opportunity for SMEs in the UAE

More importantly, it is an opportunity for some UAE SMEs to adopt the 4IR model.

“The impact of the 4th Industrial Revolution (which conceptualizes rapid change to technology, industries, and societal patterns and processes in the 21st century due to increasing interconnectivity and smart automation) will lead to greater interconnectivity of products, value chains and business models. Manufacturers must think and plan radically enough to ensure their enterprise can embrace these changes and grow through disruptive times,” said Douglas Hassell, Future Factory CEO and founder.

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