Emirati entrepreneurs represent UAE at G20 Young Entrepreneur Summit in France

posted on 02/11/2011: 68 views

Nice, France - Eight of the UAE's brightest entrepreneurs are in Nice, France to participate in the G20 Young Entrepreneur Summit (G20 YES). The group, all currently developing their businesses with the support of the Khalifa Fund, is being supported at the Summit by Hussein Jassem Al Nowais, Chairman of the Khalifa Fund.

The G20 Young Entrepreneur Summit (G20 YES) brings together more than 400 young entrepreneurs from G20 member and invited countries. This year, the Summit is being held in Nice, France from 31 October - 2 November, 2011 with the support of the French Presidency of the G20 in 2011.

The UAE, holder of the GCC Presidency this year, is participating in the G20 for the first time at the invitation of the French Government in its capacity as holder of the G20 Presidency.

Al Nowais, Chairman of the Khalifa Fund addressed the Summit in plenary yesterday. In a wide ranging address about the work of the Khalifa Fund, Al Nowais explained the thinking behind the establishment of the fund, and the work being done to foster entrepreneurship amongst young people and women in particular.

He also discussed the notable work being done to improve social-reintegration amongst the prison population, those recovering from addiction and those with special needs, in addition to people skilled in traditional crafts, who have joined the Khalifa Fund through the Sogha initiative.

Al Nowais said that over the last four years the UAE has been able to make significant progress and achievements in the field of entrepreneurship promotion amongst citizens in part due to the decision to establish the Khalifa Fund. The Khalifa Fund is aligned with the Government's strategy to create a generation of entrepreneurial citizens.

He also pointed out that President His Highness Sheikh Khalifa bin Zayed Al Nahyan is very keen to improve the abilities and skills of citizens and provide them with the means of decent livelihood through his continued guidance to enable Emiratis and integrate them into the development process.

He also highlighted that the Khalifa Fund, that provides services across the Federal level, is participating in expanding the base of small and medium enterprises in the UAE through offering a number of funding programs to meet the needs of micro, small and medium enterprises that contribute to the diversification of the UAE's sources of income and economic stability.

He added that the Fund has developed a package of facilities and non-financial service that also enhance the business environment and reinforce the opportunity for small and medium enterprises to succeed.

"The G20 YES is a unique opportunity for our delegates to engage other young entrepreneurs from 108 countries, compare their experiences, and learn best practices from renowned speakers and successful entrepreneurs.", said Al Nowais.

"This is an equally useful platform for the Khalifa Fund to share its activities with like-minded professionals and further improve the delivery of services to foster entrepreneurship and SME development throughout the country," he added.

During the course of the three-day summit, the group will discuss the role of small and medium-sized enterprises (SMEs) in emerging economies. Best practice models for development will also be discussed with presentations of case-studies from a selection of seasoned entrepreneurs who will share their own success stories.

Entrepreneur Amina Taher said: "Entrepreneurship has been supported by our government which allows me, and other individuals who want to practice their dreams, contribute towards a positive impact on our economy. Believing in your idea, access to funding, engaging with other global entrepreneurs and sharing our stories are some examples of the great platform we have".

The G20 YES is taking place ahead of the G20 Leaders Summit which will be held in France from 3 - 4 November 2011. Outcomes and recommendations of the G20 YES will be included in a final communiqué to be shared with the G20 Leaders Summit and B20 Business Leaders Summit also being hosted in France this week. The UAE is committed to actively participating in the G20's broad agenda and this important platform for the UAE to share its expertise. - Emirates News Agency, WAM

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