Union of Arab Women Investors boosts entrepreneurs

2009-11-04

Morocco has earned the recognition of the Union of Arab Women Investors for its support for businesswomen.

By Siham Ali for Magharebia in Skhirat – 04/11/09

[Abdelhak Senna/AFP/Getty Images] Princess Lalla Hasna of Morocco opened the recent conference of the Union of Arab Women Investors in Skhirat.

Female investors flocked to Morocco to attend the Union of Arab Women Investors' annual conference, a three-day event that wrapped up on Friday (October 30th).

The aim of the conference, which was held in Skhirat, was to encourage more women to become entrepreneurs, and to develop a culture of business know-how among Moroccan and Arab women.

During the conference, the union announced it would base its central presidency in Morocco, in recognition of the country's support for woman-initiated enterprises and advances in the field of human rights.

Princess Lalla Hasna opened this year's conference by highlighting the importance of the "education and training of young girls, which are the essential prerequisites … [for] the development of entrepreneurial culture among women".

Cheikha Sita bint Abdullah bin Abdul Aziz Al Saud, a representative from Saudi Arabia, agreed.

"There's also a need to involve all stakeholders to facilitate access for young people, and young girls especially," she said, adding that such engagement would also enable women to contribute more to the larger project of Arab economic development.

"The Arab world must work together to promote more investment by women," said Asmae Mouhib, who organised the conference. She underlined the importance of creating exchange opportunities among women throughout Arab countries, and highlighted the crucial role women have to play in promoting both economic and human development.

Mohammed Ben Youssef, speaking to conference participants on behalf of the Arab Industrial Development and Mining Organisation, pushed for greater investment in joint projects throughout the Arab world, and encouraged more involvement of women.

For his part, Finance Minister Salaheddine Mezouar applauded Morocco's progress in encouraging female entrepreneurs. "The national gender equality strategy plays a critical role in expanding women's economic roles, by taking women's needs into account in drafting development policies and programmes," he said.

Finance Ministry statistics indicate that enterprises founded by women are thriving in Morocco. Ministry data show that their businesses are SMEs (small- and medium-scale enterprises) and VSEs (very small enterprises); 37% are in the service sector, 31% are involved in trade, and 21% are in industry and textiles.