Beirut-Marrakesh, 12 December 2023--In response to the challenges confronting numerous Arab economies, exacerbated by recent regional and global crises impacting entrepreneurs, the United Nations Economic and Social Commission for Western Asia (ESCWA) officially launched the second edition of the Arab SMEs Summit this morning in Marrakesh, Morrocco. The event, held in cooperation with the Ministry of Economic Inclusion, Small Business, Employment and Skills of Morocco, alongside various national and regional partners, aims to forge partnerships and develop improved SME policy frameworks for inclusive and sustainable economic growth.
The Summit was inaugurated by Younes Sekkouri, Minister of Economic Inclusion, Small Business, Employment and Skills in Morocco, who emphasized the severe repercussions of the COVID-19 pandemic on SMEs, asserting that their unpreparedness necessitated independent resilience strategies. He underscored the imperative of creating genuine opportunities for entrepreneurs, striking a balance between significant investments to diversify the economy and guiding them towards sectors of high quality and value.
"If we fail in creating an optimal investment environment for entrepreneurs, we must intensify our networking efforts and leverage leading institutions to open new horizons for the youth," he concluded.
Themed "From Resilience to Prosperity," this year's Summit brings together over 1,300 participants including Arab entrepreneurs, investors, business influencers, policymakers, economists, representatives from intergovernmental and non-governmental organizations and donors to discuss entrepreneurial opportunities in the region, share experiences and promote collaboration.
In her opening remarks, ESCWA Executive Secretary Rola Dashti paid tribute to victims in Gaza and called for an immediate humanitarian ceasefire to deliver assistance to the besieged Strip. She then welcomed participants, saying "This Summit underscores everyone's commitment to transitioning from challenges to opportunities, vulnerability to prosperity, and local innovation to cross-border and global impact."
Dashti highlighted the important need for innovative financial mechanisms to fund SMEs in the Arab region, and enable them to expand and innovate. "The responsibility lies not only with financial institutions but also with policymakers," she concluded.
For his part, President of Arab Gulf Programme for Development (AGFUND) Abdulaziz bin Talal Al-Saud stressed the significance of SMEs in economies and societies, emphasizing their positive contributions to peoples' lives and economies. Moreover, he mentioned that through its small banks, AGFUND had had a transformative impact, enabling individuals to establish projects within their capacities and integrating vulnerable groups into the financial system.
"Beneficiaries of the Programme transitioned from job seekers to job creators, with many of them evolving into entrepreneurs. Financial inclusion is essential for achieving both development and social inclusion," he added.
The Summit, concluding on 14 December, encompasses policy dialogue workshops addressing the challenges and opportunities encountered by Arab Governments in fostering entrepreneurship, enhancing resilience, and proposing actionable solutions for sustainable growth and prosperity.
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About ESCWA
One of five United Nations regional commissions, ESCWA supports inclusive and sustainable economic and social development in Arab States, and works on enhancing regional integration.
