Distinguished Participants, Ladies and Gentlemen,
It is my great pleasure to welcome you to the first ICC-ESCWA Regional Economic Forum organized by the Centre of Entrepreneurship.
This Forum will contribute towards preparing the next generation of entrepreneurs in the Arab region. We are happy to have with us participants from 62 countries who will share their diverse perspectives on significant topics during the Forum’s two-day programme.
Currently,
- The Arab region’s economy has only realized 8 percent of its digital potential. By comparison, Western Europe has achieved an estimated 15 percent, while the US economy has captured 18 percent of its digital potential.
- Digital talent accounts for only 1.7 percent of the Arab workforce.
- It is also predicted that an SME successfully scaled-up on a regional level can generate up to 3.4 times more revenue and 8 times more employment than a local SME.
Therefore, there is much work to be done to improve the business environment for SMEs in the Arab region. We call on all regional and global partners to combine forces and support the region in realizing its potential and unlocking the opportunities brought about by the fourth industrial revolution, globalization and connectivity.
The ICC-ESCWA Centre of Entrepreneurship works with governments and multilateral organizations to remove the barriers that prevent SMEs from succeeding at national and regional
levels, thus improving the business environment in developing markets and strengthening the capacity of SMEs to overcome critical challenges.
I am pleased to announce that in the coming 2 years, ESCWA with support of the Centre of Entrepreneurship is committed to digitize 50 SMEs in Arab countries to scale up their businesses, and provide them with tools and training programmes needed to reach new customers and accelerate access to opportunities.
In 2022, ESCWA plans to host an Arab SME summit focused entirely on connecting the region’s entrepreneurs with regional and international opportunities. ESCWA, will also facilitate the establishment of an e-registration platform in 3 Arab states, which will serve as a one-stop-shop tool for digitizing business-related procedures.
In this 2021 Forum, it will be enriching to learn of the latest developments from local, regional, and international development experts and practitioners, SMEs, investors, corporations, policymakers, and support organizations.
I hope you enjoy today and tomorrow’s debates and exchange of ideas. It is only through multi-stakeholder and multi-lateral cooperation that we can truly make progress towards achieving the 2030 Agenda and ensure that SMEs are not left behind in the journey of Covid-19 recovery.
