UAE News Today : Politics

Dubai launches Dubai Family Business Management Program to drive economic growth and sustainability


His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the United Arab Emirates, stated that Dubai continues to shape a comprehensive ecosystem to support the growth and sustainability of family businesses and provide the best investment environment to help them thrive. This commitment is in line with the vision and guidelines of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubaito double Dubai’s economy over the next decade, propelling the emirate to become one of the world’s top three cities in terms of economic impact.

His Highness Sheikh Maktoum made these statements when launching the Dubai Family Business Management Programa project of the Dubai Center for Family Businesses, which operates under the umbrella of Dubai Chambers. The program was launched in partnership with the Mohammed bin Rashid Center for Leadership Development.

“The program is an extension of a series of programs and schemes aimed at supporting family businesses, the success of which indicates the growth of Dubai’s business community.”

His Highness Sheikh Maktoum saying.

“The Dubai Family Business Management Program is a step forward in ensuring the sustainability and continuity of family businesses across generations and is a reflection of our belief that sustainable investing is fundamentally based on the advancement of human capabilities and management competence”.

he added.

He Dubai Family Business Management Program aims to empower and develop second-level management skills among family business leaders, to ensure the continuity of these businesses, effective succession planning and, ultimately, better governance among family businesses.

Applications for registration Dubai Family Business Management Program can be submitted through the Mohammed bin Rashid Center for Leadership Development website.

Sustainability, core systems in focus

His Excellency Abdul Aziz Abdulla Al Ghurair, President of Dubai Chambers, noted:

“Family businesses are a key driver of the UAE economy. To this end, the Dubai Family Business Management Program aims to improve the core systems of these family businesses and prepare and qualify their management, taking into account planning priorities to ensure the sustainability and continuity of family businesses over the long term. of generations, preserving the family legacy. and strengthen governance to help increase the contribution and support of family businesses to Dubai’s future plans.

“The program aligns with Dubai’s vision of becoming a leading hub for family businesses. Its launch will support the sustainability and continuity of Dubai’s family businesses, allowing their junior managers the opportunity to benefit from comprehensive training packages that offer valuable experiences.”

he added.

Economical lifesaver

Mohammad Ali Rashed Lootah, Chairman and CEO of Dubai Chamberssaying:

“Family businesses are a key partner for Dubai’s comprehensive and sustainable development plans, and this program plays a vital role in preparing second-level skills capable of boosting business competitiveness in Dubai, further strengthening its position as a destination. favorite for companies.

“At Dubai Chambers, we strive to provide the ideal environment to foster and grow business. Our aim is to help support the second-tier management of family businesses, help them adopt governance structures to ensure their sustainability and set Dubai’s inspiring example in supporting family businesses.”

he added.

Promoting social responsibility

A group of second-level management members will join the program, which aims to improve its global profile, increase its awareness of local and international regulations, improve corporate governance and sustainability systems, develop global business strategies and investments and promote a culture of social participation. Responsibility in family businesses.

The program will help achieve Dubai Economic Agenda (D33) by preparing second-level business skills that will contribute to improving competitiveness and ensuring sustainable development using Dubai’s strategic and unique location and advanced infrastructure to remain the destination of choice for leading global companies.

Inspiring positive change

The Mohammad bin Rashid Center for Leadership Development aims to nurture innovative minds capable of meeting future challenges, envisioning the future and making it a reality. It adopts international best practices to train leaders and equip them with local and international skills.

The Dubai Center for Family Businesses, working under the umbrella of Dubai Chambers, is responsible for ensuring the growth and sustainability of Dubai’s family businesses, developing this vital sector and enhancing their economic contribution. The Center is tasked with developing an integrated strategy to support and grow family businesses and their ownership in the emirate.

News source: Dubai Press Office


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