GROZNY, 4th June, 2016 (WAM) — Chechen President Ramzan Kadyrov has praised the UAE leadership for the assistance extended to the Chechen people, stressing that the UAE plays a key role in supporting the economic development process in Chechnya.

While receiving a delegation of the Khalifa Fund for Enterprise Development, President Kadyrov stressed that the Fund’s contribution would help develop small and medium enterprises in Chechnya, which would have a significant impact on the rate of development.

The Fund’s delegation, headed by Hussein Jassim Al Nowais, Chairman of the Fund, is paying a visit to Chechnya.

He welcomed the proposal of Al Nowais to assist Chechnya to achieve remarkable successes, both in terms of spreading the culture of entrepreneurship and the expansion of the SME base.

President Kadyrov directed all the concerned authorities in Chechnya to facilitate the task of the Khalifa Fund’s working team to support the development of small and medium-sized enterprises.

For his part, Al Nowais said, “Our wise leadership in the UAE is keen to promote and foster closer cooperation between the UAE and the Republic of Chechnya in various fields,” stressing that the leadership takes interest in the economic and social development of Chechnya, as well as the welfare of its people.

The Khalifa Fund for Enterprise Development signed last month with the Chechen government an agreement to develop a framework for investment and development of the small and medium enterprises in the Republic of Chechnya.