Private Sector Development
Our continued belief in the enormous resourcefulness, resilience and sheer drive of young Arab women has yet again been reconfirmed.
To reduce unemployment and create a more prosperous economic outlook, the Tunisian economy must grow at a faster pace, especially with the rapidly growing pool of young, educated people the country has ready to enter the workforce.
Also available in: العربية
Kuwait was historically a financial hub and a regional trade zone and, even over the last decade, it has experienced steady levels of economic growth. Yet the recent decline in oil prices and lower levels of investment raises the prospect of greater economic uncertainty for the country in coming years.
“You can take the man out of the country, but you can't take the country out of the man.”
A native of Morocco, Hanane Benkhallouk began her career in New York before moving to Dubai in 2005. Along the way, she held senior positions in sales and marketing, communications and business development. She has led multinational, interdisciplinary teams for international market projects – MENA, Asia, Europe and the USA – and in diverse sectors, from finance and banking to retail, real estate investment, franchise development and consulting services.
- Sustainable Communities
- Profiles of the Diaspora
- Social Development
- Private Sector Development
- Middle East and North Africa
- Yemen, Republic of
- West Bank and Gaza
- United Arab Emirates
- Syrian Arab Republic
- Saudi Arabia
- Iran, Islamic Republic of
- Egypt, Arab Republic of
Businesses, for many the real drivers of job creation, can also be the foundation of wealth and greater economic inclusion of the general population. Jobs or Privileges, a World Bank Group report published in 2014, shows that high-growth startups—or young firms—accounted for all net job creation in Morocco’s manufacturing sector at the time. But, by comparison with older small or medium–size enterprises, young start-ups faced far greater barriers in Morocco to accessing finance.
The demographic clock is ticking on both sides of the Mediterranean, from an aging workforce at one end to a workforce surplus on the other. Yet, whatever the demographic dynamics, the Mediterranean area is facing an incredible challenge, that of providing a safe, buoyant and prosperous future for its youth, one which would benefit its societies, their economic development, and progress.
Two-thirds of Egypt’s poor—about 12 million people—live in Upper Egypt, where the level of economic development lags significantly behind other regions in the country. But finding solutions to kick start private sector growth in lagging regions like these can be an intractable challenge.
I have been looking for possible sources of investment and possible markets that would help both Syrian refugees and their host communities, and, as someone who has worked on the subject of the private sector for two decades now, one of my first questions is—“what role can the diaspora play?”
Market access is critical to the growth of start-ups in the Middle East and North Africa (MENA). Start-ups seeking to scale up their operations need to think in terms of regional, rather than solely national, growth strategies from day one. However, maneuvering themselves into new countries is a complex process, and one that hinges on finding the pathways, people, and partners for market expansion.