SME sector is key to creating jobs: Hanadi

Sheikha Hanadi bint Nasser al-Thani speaks at the inaugural Pearl Initiative and United Nations Global Compact Regional Forum.

Sheikha Hanadi bint Nasser al-Thani, founder and chairperson of Amwal, has highlighted the important role of the small and medium enterprises (SME) sector in addressing the region’s youth unemployment. Speaking at the inaugural Pearl Initiative and United Nations Global Compact Regional Forum, held under the patronage of Dubai Crown Prince Sheikh Hamdan bin Mohamed bin Rashid al-Maktoum, Sheikha Hanadi stressed that the SME sector was the key to competitiveness. “Job creation is not something that we have to prepare for the region’s youth; if we open up the area of SMEs, then youth become the job creators,” she said during the open plenary session on sustainable leadership and competitiveness. “They create jobs for themselves, and they create jobs for others. But this isn’t the only aspect of the SME industry. We’re trying to determine how the market will react in the next 10-20 years, and who better to forecast this than the people who are really at the bottom of it, understanding how the market works, innovating new solutions, providing new services… this is where SMEs are crucial. They represent job creation, innovation and sometimes disruptive innovation.” United Nations Secretary-General Ban Ki-moon addressed the forum with an opening keynote video address. “This year is critical for people and the planet; we are aiming to adopt a new set of sustainable development goals and reach a meaningful, universal agreement on climate change. Business can drive progress but not just any business will do. Sustainable development requires principled business, it requires strong corporate accountability. Good governance is vital, I hope the collaboration between Pearl Initiative and the United Nations Global Compact will help even more companies from the Gulf region advance and progress,” he said. The Pearl Initiative and United Nations Global Compact Regional Forum was attended by more than 500 regional and international business leaders and representatives from UN organisations, government and civil society. Speakers included Reem al-Hashimy, UAE Minister of State and board representative, Higher Committee, and director-general, Bureau Dubai Expo 2020, and Sir Mark Moody Stewart, president and chairperson, Foundation for the UN Global Compact. The event highlighted the role of the private sector in making progress towards regional competitiveness and the advancement of the United Nations Sustainable Development Goals during its opening plenary session. The forum also marked the launch of Pearl Initiative’s “Women’s Careers in the GCC: The CEO Agenda”. The research report, which polled more than 600 business women across the GCC, called on regional corporates to create a balanced working culture to help employees maintain a good work/life balance in a bid to retain more female staff.