Qatar Chamber Discusses Role of Corporate Governance in Enhancing SME Competitiveness

International Chamber of Commerce (ICC) Qatar in cooperation with the Pearl Initiative co-hosted a roundtable discussion today. Held at the Qatar Chamber headquarters in Doha, the event highlighted of the importance of good corporate governance in enhancing SME competitiveness in the region.
The discussion marks the launch of the Pearl Initiative's region-wide program to raise awareness about the benefits of good corporate governance and accountability for SMEs in terms of long-term business sustainability and profitability. The program constitutes a series of interactive roundtables, workshops and a Gulf-wide survey that seeks to understand the challenges that SMEs in the region face and to identify solutions and opportunities.
Speaking on the significance of the event, Carla Koffel, Executive Director of the Pearl Initiative, said: "The SME sector in the GCC region has witnessed rapid growth, and plays an instrumental role in driving economic development and job creation. However, smaller businesses are unable to give adequate importance to corporate governance practices, since they are often faced with the challenge of limited resources or urgent competing business needs." She added: "There is a pressing need today to raise awareness of the benefits that good corporate governance can bring to SMEs, whether in enhancing access to finance, reducing risk or achieving faster business growth. At the Pearl Initiative, we believe it is essential to encourage SMEs to adopt sound corporate governance practices early in their business development journey, as these systems can help them to increase the value of their business and achieve long-term success." The roundtable aligns with the drive of the Qatar government to promote the development of SMEs. Recognizing that SMEs constitute the foundation of a diversified knowledge-based economy, she added.
For his part, Remi Rowhani- General Secretary of ICC Qatar, said: "SMEs are an ever increasing important part of our economy, they should be supported and enhanced. The International Chamber of Commerce is a great supporter in pushing for SMEs within the Qatari economy and jointly with the Qatar Chamber organizes the annual SME conference that takes place in Qatar. 
The topics of the panel discussion will be of great interest to individuals working within the SME field, highlighting priorities for SMEs, issues that may arise and how to overcome them." Developed in cooperation with the United Nations Office for Partnerships in 2010, the Pearl Initiative is the leading Gulf business-led organization fostering a corporate culture of accountability and transparency.

Source: QNA