Khalifa Fund Signs MoU with Majid Al Futtaim Hypermarkets to Support Local Entrepreneurs
Khalifa Fund for Business Development has recently authorized a Memorandum of Understanding (MoU) with Majid Al Futtaim Hypermarkets LLC as part of its efforts to sustain a business society of UAE and assistance Khalifa Fund members. The contract aims to establish joint cooperation to produce an ideal business atmosphere for the supply of fresh food, grocery, light family, fabric and digital products to all hypermarket stores under the Carrefour and Carrefour Market brand names.
The Khalifa Fund aims to provide the best centers for local enterprises and help develop Emiratis' skills and capacities with the arrangements signed with customers market leaders. Based upon the MoU, Majid Al Futtaim Hypermarkets will choose distributors and items, evaluation providers' business, give them with the needed training and awareness, including devoted area for each supplier to showcase their products in the shops, following basic safety and hygiene procedures.
Khalifa Fund will certainly guarantee that vendors are officially registered as energetic members. It will likewise ensure that providers take full duty of the products, including payment and securing correct insurance policy. Additionally, suppliers will give the hypermarkets with open market costs.
Ahmad Khalfan Matar Al Rumaithi, Senior Manager, Entrepreneurship Development - Support & Membership at Khalifa Fund, said: "The agreement aims to enhance our teamwork efforts with the administration and procedure of leading Groups in the UAE by offering assistance for jobs supported by the Fund. We are keen to establish strong partnerships with various local financial institutions aimed at adding to the growth of the local economiy and increase penetration to the market."
Al Rumaithi added: "A separate commercial contract will be made between Majid Al Futtaim Hypermarkets and each distributor stating the nature of the partnership and how the distributor will certainly wage the business in accordance with the requirements of the hypermarket and the MoU terms. The MoU maintains our dedication to drive sustainable financial growth in the UAE according to the Abu Dhabi Economic Vision 2030."
Commenting on the partnership arrangement, Philippe Peguilhan the Nation Manager of Carrefour UAE at Majid Al Futtaim Retail said: "We are pleased to partner with Khalifa Fund and be connected with a campaign that assists establish young Emirati skill. At Majid Al Futtaim we strongly rely on the value that the more youthful generation can bring to the workplace. The cooperation even more mirrors our dedication to accumulate SMEs as part of our strategy to expand the local economy and its retail industry. The goal of this MOU is to focus our initiatives on maintaining the highest possible standards of quality within the retail industry by backing local organisations and tasks managed by the fund. We anticipate reinforcing this partnership gradually and subsequently encouraging a business society led from the front by young Emiratis."
Khalifa Fund and Majid Al Futtaim Hypermarkets are dedicated to support local enterprises and their products, and additionally boost their chances to contend in the local market.
