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Middle East firms Urged to Create Jobs

M H Alshaya Co, leading Middle East retailer, has called on family businesses to spearhead job creation. 'The development and advancement of family businesses in the Middle East is of crucial importance to the well-being of all our region's economies and the generation of much needed jobs.

'With over 95 per cent of businesses being family run most of these new jobs will come from these businesses. It is vital for the future of the Middle East that family businesses take this responsibility and embrace this challenge by being innovative and entrepreneurial,' said Mohammad Alshaya, chairman, M H Alshaya Co, which was a key participant and panel sponsor at the first Forbes CEO Middle East Forum, in Doha, Qatar.

The forum became one of the most important management events in the region, with an audience of over 200 CEOs, chairmen, heads of companies, government officials and academics attending and participating in the discussions.

Alshaya participated in the session 'All in the Family - the Dynamics of Family Business' in which he discussed the important role family businesses play in creating much-needed jobs in the Middle East. He also highlighted the role of family businesses in building the region's economies in a time of fast-paced globalisation.

Alshaya went on to highlight his company's commitment to growing the awareness about the need for jobs in the Middle East.

'Our sponsorship and presence at the Forbes CEO Middle East Forum reflects how much we believe in family business and the role it can play in addressing this challenge for employment for our young people. It is well known fact, in the next two decades the MENA labour force will expand by 80 million new workers. In other words, 100 million new jobs are needed by 2020 - equivalent to doubling the current level of employment - family businesses need to play a leading role in achieving this target.'

The Alshaya Group is one of the leading family businesses in the region, founded in 1890 in Kuwait. Today, Alshaya's operations encompass the Middle East, Turkey, Cyprus, Russia and Poland.-(TradeArabia News Service)

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