fbpx
Admin SAE

Admin SAE

Economic reports ahead of AIM Startup 2019 in Dubai

(عربي)

Dubai, January 22, 2019

International economic studies and reports indicate that startups and small and medium-sized enterprises (SMEs) will lead the economic growth in the UAE and the GCC over the next few years. This will promote job generation which will contribute largely to an increase in consumption and spending of low-income people.

"The UAE has been alerted early to the importance of startups and SMEs in supporting the national economy and its place in contributing to GDP, " said Adib Al-Afifi, Director of the National Program for Small and Medium Enterprises (SMEs), Ministry of Economy. “We have introduced the necessary economic regulations and legislation that provide stability to the sector, and to strengthen its position, in order to attract more domestic and international investors."

 

Al-Afifi added, "Although this type of investment activity faces many challenges in most developing countries, it is the marketing and administrative difficulties and the low financial potential of these projects, which necessarily lead to weak marketing efficiency. However, the GCC countries, specifically the UAE, has been alerted to these challenges, thus has launched the National Program for Small and Medium Enterprises. We have adopted and promoted these investments as well as provided the ideal environment to enable these projects and impose their presence and competitiveness in the local and international markets."

According to a new study conducted by one of the international consulting offices in the region, investments for startups and SMEs in the Gulf region will reach US $2 billion over the next decade, compared to only US $150 million invested in the last ten years.

The United Arab Emirates and Saudi Arabia will play an important role in stimulating the growth potential of the region and in developing startup ecosystem in GCC. This scenario places both UAE and Saudi Arabia at the forefront, developing and sustaining an active startup ecosystem while keeping a solid pace as major international cities race to build their own smart cities using disruptive technologies.

 

According to investment report statistics 2018 has proven to be a record year for startups in MENA, with 366 recorded deals and an increase of funding by 31%. There was also in an increase of 5% in the number of institutions and angel groups investing in MENA-based startups increasing the number of investing institutions to 155, 30% of which are from outside the region.

UAE’s Ministry of Economy has established the National Program for Small and Medium Enterprises with the aim of empowering SMEs and developing general frameworks and guidelines aimed at providing the necessary expertise, technical and managerial support and training for SMEs.

 

This emphasis is being shared by the third edition of AIM Startup, a global platform for entrepreneurs which is under the patronage of the Ministry of Economy. Hosted in partnership with the National Program for Small and Medium-Sized Enterprises, AIM Startup will once again support emerging and innovative companies for three days from 8-10 April 2019 at the Dubai World Trade Centre.

AIM Startup anticipates more than 20,000 visitors who will maximize the global networking opportunities onsite. At AIM Startup, innovators are linked with potential investors and can benefit from the investment climate to form collaborative partnerships, facilitate investment deals, and gain knowledge from industry players and thought leaders.

 

About AIM Startup

AIM Startup was launched in 2017 as an initiative of the UAE Ministry of Economy to connect promising startups with investors and business partners from other parts of the world — set in the heart of the UAE’s Annual Investment Meeting, the world’s leading FDI platform for emerging markets and held under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

AIM Startup is an ideal platform for start-up companies looking to raise capital, expand into new markets and forge meaningful business relationships with major investors, business leaders, representatives of international institutions and government entities.

 

 

For press inquiry, kindly call or email:

Shereen Hassan Al Musalami

Media and PR Manager, Strategic Marketing & Exhibitions

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mobile number: +971 56 4034071

 

العربية English  French German

نلتقي رائدة الاعمال السويسرية من أصل سوري، رانيا كنج، في مقر جمعية "صناعة نسائية" التي تحوي منتجاتها اليدوية "أنا أحب سوريا" في قلب مدينة جنيف. في هذا الديكور الذي يزخر بالالوان الزاهية، والتصاميم المزركشة، نستعرض رحلتها الشيقة والمثرية.

 

العربية English  French German

 

We meet Rania Kinge in her jewellery and accessories shop "I love Syria" in the heart of Geneva. In this highly colourful setting, in the image of its creator, we evoke the committed career path of the energetic Swiss Syrian-Socialist entrepreneur.

 

S.A.E. : How did you become an entrepreneur?

R.K. : I left Syria at the age of 6 months. Following my father who was a diplomat, I lived in Switzerland, New York and Paris, where I studied in international institutions. After studying business management, I started my career with a company specializing in management systems in Geneva. While in New York, I once fell in admiration for Swarovski pearls displayed in a store. Fascinated, I bought a lot of them. And that's how I started creating my own jewellery and opened my shop in Geneva.

Then I tried to increase my production. That's when my father said to me, "Give Syria a chance. Damascus and Aleppo have very good craftsmen". He was right. In 2001, I started to collaborate with these craftsmen by exporting their products, such as Aleppo silk scarves. Then I opened my own workshop in Damascus, and hired 12 employees. My creations were sold abroad, in chic department stores like Harvey Nichols or luxury boutiques, especially in Geneva. I was reaching a very specialized niche market. Unfortunately, the differences in culture, values and business ethics in Syria eventually affected production and business relations and I decided to close the shop.

It was the war that made me resume an entrepreneurial activity in Syria and launch the "I Love Syria" brand in 2012, with the aim of helping those who had lost everything. Our creations are entirely made by women displaced by war. Eight at first, they are now 100, spread over several cities across the country. Our products are sold online on the international market. We are the first social enterprise in Syria. It is also totally independent, which is unprecedented in this country.

 

S.A.E. : You define yourself as a social enterprise. What is your business model?

K.R. : The social enterprise business model is gradually spreading in France, Belgium, Switzerland and the United States, but it does not exist in Syrian law. My company is therefore registered as a non-governmental organization that uses trade to finance itself (in Syria the company is registered as a limited liability company (LLC)).                                                                 

Most women I work with have no previous skills or even education. We offer them a three-month training course, followed by piecework pay, based on the individual monthly production that determines the selling price. For example, for every 4 to 5 handbags made in a month, they receive $200 to $250, 4 times more than the current average wage in Syria. For sale, as any commercial transaction is currently impossible in Syria, our products are sold on the international market, thanks to e-commerce. Our objective is to be able to finance ourselves completely through sales. But we did not reach the breakeven at the moment.

 

S.A.E. : How did you come up with the idea of the brand "I love Syria", and why fashion accessories?

K.R. : Given the circumstances in which I wanted to operate, the production had to take place without electricity because electricity supply in Syria suffers serious problems. The manufacturing techniques also had to be simple enough to be taught in a few days. I then thought of bracelets braided and decorated with pearls and inspired by the memory of Broadway's tourist stalls covered in I love NY products, I imagined the I Love SY line. The brand would use the Syrian national flag as a logo, symbol of the unity of Syria before the war.

I presented my idea to women in a displaced persons' camp by offering them the opportunity to try, with this project, to earn enough money to leave the camp, rent an apartment, put their children back in school and resume their lives. Several of them have decided to follow me. Fearing that I would be drawn into corruption problems, I declined the proposal to share the premises of the organizations managing the camps. So I transformed my apartment in Damascus into a production workshop.

Eight women started working there, despite the difficulties of crossing the many checkpoints. It was also difficult for me because I had to interact with people who were extremely indoctrinated. But we persevered. We then rented a small workshop in the middle of the souk, where we were the only women, then an office, then a larger workshop. We even equipped it with toilets - a great novelty! - and we are very proud of it.

 

S.A.E. : What was your strategy to penetrate the international market?

K.R. : In 2016, I almost gave up. With the daily bombardments, the lack of water and electricity, production was suffering. And since no one was buying our products inside Syria and the company was not making any profits, I had to continuously inject funds into the project from my own pocket. That's when I discovered on the Internet the Ethical Fashion initiative of the International Trade Centre (ITC) in Geneva. It seeks to connect marginalized artisans in developing countries with international fashion houses. In February 2016, we exhibited our creations for the first time in Geneva. In the meantime, we created the Made by Women association with former colleagues of the Collège du Léman International School in Geneva and with the help of the Geneva government. Then we entered into a partnership with the ITC, funded by the Japanese government, to access e-commerce IT tools.

Since then, we have been able to export our products from Syria. And the events followed one another: sales exhibitions in Geneva, at the Palais des Nations, at the International Trade Centre, on the occasion of eComCaravan, the Week for Peace, the Christmas Market. As our sales improved, we were able to diversify our production and make the models more complex. We have also been able to start supporting other craftsmen from all over Syria, from Homs, Lattakia, Damascus, Aleppo by exporting their products. During our last exhibition, we shipped 5 tons of products to Geneva!

Today, we are present on all major social networks on which we post quality photos of our products. Many people follow us and contact us to display our products or for bulk purchases, from all over the world. We have established a network of women who share the same vision of ethical fashion, women who want to help other women living in a war zone or in poverty. We export our products to Australia, New Zealand, Germany, the United States, Spain, Switzerland, Algeria, Jordan. In Japan, we collaborate with Shibuya 109, the temple of fashion in Tokyo. A delegation from the Japanese Ministry of Foreign Affairs even visited us there and congratulated us!

 

S.A.E. : Is entrepreneurial success possible in a war-affected country?

K.R. : The most difficult thing is to manage the logistics dimension. Although international sanctions are not supposed to apply to non-governmental organizations and livelihood activities, this jeopardises our activities. When we are stuck, then we make use of a legal study by Georgetown University which shows clearly that as a non-governmental organisation, we should not be sanctioned. Through Made by Women, we order all our supplies from Switzerland. As for our products, they transit through Beirut and are then stored in Switzerland from where they are shipped to customers. For online sales, we have signed a contract with the YellowCube logistics service of the Swiss Post. Our items are scanned and stored in a computerized and automated order fulfillment center, linked to my online store www.raniakinge.com. We are the only company in Syria and probably in the entire Middle East to use this technology!

 

S.A.E. : What advice would you give to someone who wants to follow in your footsteps?

R.K. : You really have to want to do it to get started! In a situation like Syria, we must first face the stress of war, the bombs that fall. But you share these risks with everyone else and you are not alone. On the other hand, in such situation, having to tackle each aspect of the project and to manage everyday life challenges; at some point you feel alone.

In the mentality of an entrepreneur, anything is possible. In Switzerland, as a woman, if you have an idea and it meets a need, you will find support. In the Middle East, on the other hand, people with ideas are not valued. So you have to be very persistent, knock on doors over and over again. They will eventually open up. The will to do well and the intelligence of the heart are also important, especially to resist corruption. With a social enterprise, if you give in to corruption, you corrupt your entire mission, and in this case it is no longer worth it. You have to agree to take small steps forward and walk straight. And always rest on your friends!

 

S.A.E. : What future do you see for your company?

R.K. : My first objective was that the company should support as many women as possible. Now, it is a matter of making the company viable by generating enough profits to cover the costs and reach the break-even point. Now in our sixth year, we are almost there. In the future, I would like to replicate my model in other countries such as Iraq, Palestine, Jordan, Lebanon or Turkey, from where many women are contacting us in this direction.

I believe that providing people with a livelihood is the best way to fight terrorism. We need to create more social enterprises and empower people to support themselves in their own countries and cultures.

This is my ambition for the future.

Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

High-growth firms in emerging economies account for more than 50% of all new jobs and sales despite making up less than 20% of all firms in manufacturing and services. These firms create a domino effect on others through increased demand and/or offering improved access to inputs.

A new World Bank Group report, “High-Growth Firms: Facts, Fiction, and Policy Options for Emerging Economies “acknowledges that the extraordinary capabilities of high-growth firms have attracted the interest of policy makers who are keen to figure out how to encourage the establishment of more of these high-performing firms to boost economic performance.  The report is based on a detailed analysis of firm dynamics in Brazil, Côte d’Ivoire, Ethiopia, Hungary, India, Indonesia, Mexico, South Africa, Thailand, Tunisia, and Turkey. According to the report’s analysis, the link between productivity and high growth is often weak; as firms may grow for a variety of reasons beyond technical efficiency. (read more)

A modest growth recovery continues for countries in the Middle East, North Africa, Afghanistan, and Pakistan region. Higher oil prices are providing support for oil-exporting countries but are adding to pressures facing oil-importing countries. Meanwhile, growth in the Caucasus and Central Asia region exceeded expectations in 2017, but momentum is set to fade. At forecasted growth rates, it will take the region nearly two decades to reach the per capita income levels of emerging Europe. Faster-than-anticipated tightening of global financial conditions and rising trade tensions cloud the outlook for both regions. (read more)

For companies expanding their operations to Saudi Arabia, it can be a complex and lengthy process. The government has encouraged foreign investment and made reforms to make the process easier for companies, however, challenges still exist. Corporate immigration is a process that requires a lot of time and resources and it is essential that companies perform their due diligence to ensure they are compliant throughout the process. Below we break down corporate immigration into the Kingdom and what you need to know.

What is the government’s policy towards corporate immigration?

The Saudi government have shown a pro foreign investment attitude. by making the necessary reforms to encourage foreign investors to enter the Kingdom. These reforms, aligned with Vision 2030, aim to improve the environment for foreign investment and lower the barriers to entry.

The government have created laws and regulations that create a risk-avert environment for companies to thrive in. (read more)

 

Policies to create jobs, promote entrepreneurship and growth are key priorities for many emerging economies. Designing and implementing reforms is particularly challenging as policy makers attempt to strike a balance across sectors, firm size and incentives that can sustain growth in a rapidly changing global economy. High-growth firms (HGFs)–accounting for approximately 3-20 percent of the manufacturing and service industries—are of particular interest as a growth model considering their contribution to more than 50 percent of new jobs and sales in in these sectors. (read more)

With climate change perceived as the most pressing risk for the world today, government officials and energy experts are emphasizing the importance of shifting toward a global green economy.
According to the Bank of America Merrill Lynch’s Thematic Investing report, the 17 warmest years on record occurred in the 21st century, and 2018 could be the 42nd consecutive year where global temperatures rise above the 20th-century average.
This year’s Intergovernmental Panel on Climate Change also warned that we are currently heading toward a 3C rise in temperature, with the 1.5C barrier potentially breached in 12 years, by 2030.

As extreme weather is recognized as the foremost global risk today, affecting 10 to 12 percent of the globe compared to 0.1 to 0.2 percent from 1951 to 1980, the frequency and severity of heatwaves, hurricanes, floods and droughts are intensifying. But green capital, digital transformation and social engagement can play a fundamental role in nations helping fight the cause by transitioning to a green economy.(read more)

There is absolutely no doubt about the social and economic impact education can have on humanity. On a personal level, the same is undeniably true. Up until the age of 18, we develop in very structured terms. Our formal education shapes the way we think and how we view the world. After that it’s on us. Whether you work at a large company where you collide with new ideas, skills, and technologies that you’re forced to use daily, or you’re a freelancer or entrepreneur and you’re the head of your own HR, marketing, and IT departments, continuous education is what collectively propels us forward. (read more)

Morocco plans to sell the five-star La Mamounia hotel in Marrakech and the Tahaddart power plant in a privatisation push Morocco plans to sell the five-star La Mamounia hotel in Marrakech and the Tahaddart power plant in a privatisation push to rein in the budget deficit in 2019, the government spokesman said on Thursday. The government approved a draft law allowing the sale of the two companies, Mustapha El Khalfi told a news conference. Morocco's 2019 draft budget aims to raise 5 billion to 6 billion dirhams ($527 million-$633 million) from selling state assets to cut the deficit to 3.3 percent of gross domestic product next year. (read more)

About Us

Enjoy the power of entrepreneurs' platform offering comprehensive economic information on the Arab world and Switzerland, with databases on various economic issues, mainly Swiss-Arab trade statistics, a platform linking international entrepreneurs and decision makers. Become member and be part of international entrepreneurs' network, where business and pleasure meet.

 

 

Contact Us

Please contact us : 

Cogestra Laser SA

144, route du Mandement 

1242 Satigny - Geneva

Switzerland