Saud bin Rashid Al Mualla Program for sponsoring youth projects
According to the directives of His Highness / Sheikh Saud bin Rashid Al Mualla – Member of the Supreme Council – Ruler of Umm Al Quwain, Emiri Decree No. (3) of 2009 was issued regarding the establishment of the Saud bin Rashid Al Mualla Program for Sponsoring Youth Projects, which was established under the umbrella of the Chamber of Commerce and Industry of Umm Al Quwain. And in accordance with the directives The public institutions of the state and its institutions stress the importance of sponsoring and supporting citizens to establish their projects and help in ripening their ideas in this regard and facilitating the procedures for establishing their projects and motivating them. The state has launched many institutions and programs in this regard, including those related to providing financial support and care related to the establishment of these projects Including those who provide care and attention since the launch of the first idea for any citizen to enter the work arenas as an investor and help prepare feasibility studies and plan the establishment of the project
The special committee of the program meets citizens and discusses their ideas. In light of the information available in the room, the subsequent direction of the work mechanism is determined in the event of initial conviction in the feasibility of the project. In particular, the committee, in cooperation with the citizen investor, begins to prepare the preliminary feasibility study for the project according to a structure prepared for this opportunity, which is a simplified structure that was presented to In the event that the study of the project is confirmed to be economically feasible, subsequent procedures will be initiated for the project’s affiliation with the membership of the program. This mechanism was established for joint cooperation between the citizen and the committee in the field of discussing the project and starting to prepare the initial feasibility study with the aim of introducing the citizen to details related to project management, investments, existing similar goods and services competing with it, and the privileges and exemptions that will be granted to the project.
The committee developed the initial structure for the preparation of the feasibility study, which includes general information about the investor and the project , the legal study, the marketing study , determining the workers in terms of specifications, number, wages and privileges . Financing Estimated production costs for the project Determining the cash flow schedule for at least 5 years Evaluating the project in light of that and making recommendations
Preparing the initial feasibility study, which is provided free of charge by the program to the investor, and in cooperation with it , the project is exempted from license fees and room fees for a renewable year, an according to the program committee’s decision, exemption from some local fees. Providing facilities by the local departments of the project.
The young investor selects the required project according to his qualifications, profession, or family profession.
Discusses the project with the committee supervising the program and reaches the final selection decision.
The investor begins to prepare a brief feasibility study for the project, which is the basis for studying any request for funding or assistance from the authorities. The competent
committee provides assistance to the investor in preparing the feasibility study
One of the basic requirements for establishing any project, making a decision regarding it, or studying requests for loans and assistance is to prepare a brief economic and technical feasibility study, provided that simplicity in preparation is available and the study includes
An idea about the project
The technical study
Employment and wages
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Chamber of Commerce and Industry of Umm Al Quwain – Sheik Ahmed Bin Rashid Al Moalla Street