Dubai will help retired entrepreneurs set up new businesses and support them with fee cuts and finances as it looks to further boost the economy.
As part of the Dubai Social Agenda 33, Dubai Police and the Department of Economy and Tourism, signed a Memorandum of Understanding (MoU) for the launch of the “Dubai Retiree Projects Support” programme”.
The programme offers Emirati retirees benefits and incentives, including:
- Priority in being assigned to government projects
- Financing of their future projects
- Exemption from service fees for five years
- Consultation support for their projects to ensure optimal returns
Dubai Retiree Projects Support
The MoU was signed by Lieutenant General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police and Member of the Higher Committee for Development and Citizens Affairs in Dubai, and Helal Saeed Al Marri, Director-General of the Department of Economy and Tourism.
The agreement reflects the two sides’ efforts to ensure the mental, social and financial stability of both retirees and employees approaching retirement.
The Retiree Project Support programme aligns with the objectives of the city Social Agenda 33, which aims to create a more active social system that provides protection and empowerment, through a model that ensures equal opportunities and social welfare to all segments of the community and promotes social and humanitarian work to mitigate economic and social risks.
Operating under the umbrella of the Higher Committee for Development and Citizens Affairs, the programme aims to support projects launched by retirees through the Mohammed bin Rashid Fund for SME, in line with Dubai Social Agenda 33’s objective of turning the city into a hub for SMEs.
The Retiree Project Support programme targets two groups of citizens; existing retirees and employees approaching retirement.
It aims to utilise the expertise of these two groups to support the city’s development, helping them to contribute to the emirate’s ongoing achievements.
In addition to launching a council for retirees to facilitate communications with them, the programme will offer additional job opportunities for retirees and those approaching retirement.
This is aimed at providing them an additional source of income to enhance their financial stability, while benefiting from their capabilities and expertise through their engagement in SMEs.
Lt. General Abdullah Khalifa Al Marri said: “The Retiree Projects Support programme translates the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and Chairman of the Higher Committee for Development and Citizens Affairs, to dedicate all available resources to improve the quality of life of our citizens.
“It also aligns with the goals of the Dubai Social Agenda 33 to enhance their well-being and family stability.”
The programme, he noted, seeks to ensure stability and improved quality of life for retirees and sustain their ability to meaningfully contribute to Dubai’s development.
He added: “The programme reflects the respect and value we hold for retirees and those nearing retirement. It reflects our trust in their capabilities, their wealth of experience, and the significant, positive influence they have within the business community.
Helal Al Marri said: “The new programme turns the expertise and knowledge gained by retirees into investment and development opportunities that support the sustainability of Dubai’s economy, while bolstering innovation and diversity.
“It contributes to the objectives of the Dubai Social Agenda 33 as well as the Dubai Economic Agenda D33 which both place a high emphasis on SMEs and their role in economic diversification and growth.
“The Department of Economy and Tourism is keen to support SMEs, recognising their leading role in establishing Dubai as a global hub for business, tourism, entrepreneurship and the digital economy.
“SMEs represent a crucial driver of comprehensive and sustainable development. Encouraging retirees to engage in the field of entrepreneurship will help us utilise their long years of experience to support economic sustainability and social stability”.
Abdul Baset Al Janahi, CEO of Dubai SME, said, “The programme reflects the vision and directives of our wise leadership to provide all the support we can to retirees and employees approaching retirement in a way that ensures their financial stability and wellbeing, while utilising their expertise and enhancing social solidarity.
“Such efforts will accelerate the achievement of the objectives of both the Dubai Social Agenda 33 and the Dubai Economic Agenda D33.”
“Dubai SME offers a host of incentives and benefits to retirees wishing to launch their own projects in Dubai. These include financing, training, facilitating processes and technical consultation.
“The programme inspires retirees and those approaching retirement to take the lead and put their capabilities and expertise to work.
“It makes them partners in Dubai development projects and initiatives to support social sustainability”.
Retired Dubai citizens, and employees approaching retirement, can benefit from the services offered as part of the Retiree Projects Support programme by applying through Dubai SME.
In addition to supporting their small and medium-sized businesses, the programme gives them priority in undertaking government projects and bids in coordination with relevant entities.
The city’s Police General Command is launching a database that is regularly updated, to monitor the expertise and specialised skill of retirees and employees approaching retirement.
This facilitates services that match their lines of experience and prepares them for entering the market through Dubai SME.
Other services delivered through the programme include consultations to help beneficiaries plan for the next phase of their lives, ensuring a happier retirement and a continuation of their positive role in society.
The programme also offers support for retirees and employees approaching retirement in collaboration with private sector companies.
In order to facilitate business processes and alleviate the financial burden of retirees, the programme exempts them from service fees for a period of five years.
This encourages them to raise their competitiveness in the SME sector, a key pillar of national economy and a major driver of the transformation towards a robust knowledge economy.
The new programme joins a host of initiatives launched to ensure the stability of retirees, utilise their expertise and drive social and national solidarity.
Follow us on
