Arab world SMEs Problems a Session at World Economic Forum in Jordan #wef
At World Economic Forum Dead Sea held yesterday in Dead Sea Jordan a session about investing in SMEs took place. The panel speakers were: Jing- Yong Cai, CEO IFC, Marco Comastri, President and GM CA technologies, Ibrahim Dabdoub, Group CEO National Bank of Kuwait, Tired Mohamoud, CEO Abu Dhabi Islamic Bank, Abdelouahed Souhail, minster of employement and vocational training Morocco and Fathi Taher, CEO Taher invest. The moderator was Mohamed Al Issis professor of economics school of business American university in Cairo.
The panelists discussed the problems that face SMEs in the Arab world and they are
lack of enabling ecosystems, lack of infrastructure, no access to finance, 8% only from finance goes to Smes.
They suggested that governments should intervene and establish small funds for Smes,
Other problems for SMES is real estate cost is high which is bad for SMES, while cloud computing can provide scalable solutions at a cheaper rate.
One speaker called for successful Jordanians should come back to invest in the country. The speakers asked for a partnership with the public and install trust. They also discussed What can be done to provide third party guarantees for loans? As there is loan guarantees is a problem in the region and called that loans should be based on business balance sheet and successful potentials.
Another problems discussed is that IFC and banks are concentrated on large scale companies.