Back to the complete issue
Wednesday, 9 October 2019

Closer public-private sector collaboration could send entrepreneurship in MENA skyrocketing

Closer public-private sector collaboration could send entrepreneurship in MENA skyrocketing, but the private sector needs to lead the way, says World Bank private sector specialist Ali AbuKumail in this podcast (listen, runtime: 25:00). There is a direct correlation between a business-friendly environment and increased entrepreneurial activity, so entrepreneurs will gravitate towards hubs where they can operate easily. Kuwait is one such success story: A recent government partnership with Wamda has helped to build its entrepreneurship culture, and the Kuwait Business Center has become a one-stop shop to facilitate business registration, scaled nationally by the government.

But roles must be well defined: AbuKumail recommends more regional inter-government cooperation to allow entrepreneurs to move and expand their businesses easily — a must, given MENA’s market fragmentation. Building infrastructure by, for example, providing fast, accessible internet across entire countries — not merely in the center of urban areas — is another vital role for individual governments. Ultimately, there needs to be a clear delineation of roles to cater to the diverse needs of projects at different stages of the life cycle, with the public sector working on the enabling environment and the private sector taking the lead to develop models that tackle regional challenges.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.