24/06/2018 08:15 AST

Khalifa Fund for Enterprise Development recently signed a Memorandum of Understanding with Majid Al Futtaim Hypermarkets as part of its efforts to support Khalifa Fund members and promote their entrepreneurship, according to a statement released on Saturday.

The MoU aims to establish joint collaboration to create an appropriate business environment for the supply of fresh food, grocery, light household, textile and electronic products to all hypermarket stores under the Carrefour and Carrefour Market brands, the statement said.

The Khalifa Fund provides best facilities for local enterprises and help develop Emiratis’ skills and capabilities through the agreements signed with consumers market leaders.

As per the MoU, Majid Al Futtaim Hypermarkets will select suppliers and goods, review suppliers’ business, provide them with the necessary training and awareness, including dedicated space for each supplier to showcase their products in the stores, following standard safety and hygiene procedures. Proper insurance

Khalifa Fund will ensure that suppliers are officially registered as active members. It will also ensure that suppliers take full responsibility of the products, including compensation and securing proper insurance. In addition, suppliers will provide the hypermarkets with competitive market prices.

Ahmad Khalfan Matar Al Rumaithi, Senior Manager, Entrepreneurship Development — Support & Membership at Khalifa Fund, said, “The agreement aims to enhance our cooperation efforts with the management and operation of leading Groups in the UAE by providing facilitation for projects supported by the Fund. We are keen to establish strong relationships with various local economic institutions aimed at contributing to the growth of the local economy and increase penetration to the market.”

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