MANAMA: Bahrain Arab model for entrepreneurship for the SME development which has been replicated by 52 nations has won praise from a senior United Nations official who termed it as a key for SME development going forward.
HE Erik Solheim Executive Director of the United Nations Environment (UNEP) who witnessed a signing of an agreement with the UNIDO Investment and Technology Promotion office in the Kingdom of Bahrain, has applauded the outcome of the Bahrain Arab Model and took a keen interest in the success stories of the local entrepreneurs, especially contribution of UNIDO towards women empowerment side.
United Nations Environment and the United Nations Industrial Development Organization in Bahrain joined hands towards “Finance for Development – Achieving the Sustainable Development Goals and both sides have exchanged letters in an effort to cooperate towards a number of initiatives aimed at promoting entrepreneurship, investment and innovation in the area of green technology and renewable energy based on the Bahrain Model for Entrepreneurship Development.
This cooperation encompasses a number of programs in Bahrain and the Arab Region for creating awareness on the green economy, institutionalizing entrepreneurship programs in green technology, renewable energy, sectoral analysis with the goal of identifying investment opportunities as recycling, health, agriculture, water and others.
UNE and UNIDO ITPO Bahrain together with the UNIDO Arab International Center for Entrepreneurship and Investment in Bahrain will work closely to mobilize the private sector and financial institutions both commercial and developmental in funding these green industry projects in addition to developing green economic infrastructure projects including free zones, technology parks, incubators and others.
“Sustainable development can best be achieved by providing support to human capital development as a means of empowering the people to contribute to the economy and become economically active. Promoting investment and developing SMEs, requires well-groomed entrepreneurs who seek opportunities and challenge themselves to succeed, coupled with a set of added value services; and this is exactly what the Bahrain – Arab Model methodology was able to achieve,” Dr Hashim Hussain, Head of UNIDO, who was present during the landmark signing ceremony, said.
The government of Bahrain had embarked on this strategic partnership with UNIDO in 1999, with a view to providing full support to potential entrepreneurs, and all the organs of the Government have focused their efforts towards achieving this goal.