The Arab SMEs Summit – ROWAD 2024, co-organized by the United Nations Economic and Social Commission for Western Asia (ESCWA) and Qatar Development Bank, convened leaders, entrepreneurs, and policymakers to shape the future of small and medium enterprises (SMEs) in the Arab world. Held at the Doha Exhibition and Convention Center under the patronage of Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs of the State of Qatar, the summit centered on empowering SMEs to drive innovation, sustainability, and economic growth across the region.
Within this dynamic context, Nicolas Farhat, Senior Director of SME Programs/WE4F MENA, participated in a panel discussion titled “Spotlight on Opportunities: Sustainability and Responsible Business Practices.” Joined by Mr. Ali Ahmad Al-Mawlawi, Director of Business Development and Representative of the Ministry of Commerce and Industry in Qatar, the session was moderated by Ms. Zahraa Taher. Together, they explored how SMEs can align with global sustainability goals while building resilience and thriving in a rapidly evolving green economy:
Access to Green Finance: The panelists discussed mechanisms to empower SMEs in securing funding for sustainable initiatives. Topics included de-risking strategies, concessional funding options, and the expanding role of impact investments in fostering responsible business practices.
Governmental and Institutional Support: Insightful discussions highlighted the vital role of governments and institutions in fostering sustainability through financial incentives and targeted capacity-building programs, ensuring SMEs can implement and scale green initiatives effectively.
Enhancing SME Competitiveness: Practical strategies were shared to help SMEs integrate sustainability into their operations, positioning them to excel in the green economy while contributing to long-term regional growth.
Nicolas Farhat emphasized the importance of providing affordable green financing to enable SMEs to adopt circular and sustainable business models. While underscoring the significance of institutional support, he noted that SMEs must proactively position themselves as impact investment-ready and creditworthy. Farhat also highlighted the value of collaboration between the private sector and governments in creating an ecosystem that supports sustainable SME growth.
Drawing from his expertise, Nicolas showcased Berytech’s impactful initiatives across Lebanon and the Arab region. These efforts include supporting entrepreneurs at every stage of their journey – from ideation to international expansion – and managing investment funds focused on sustainability-driven SMEs. By catalyzing the growth of green businesses, these initiatives are playing a pivotal role in advancing sustainable economic development.
The session was a testament the summit’s broader mission: fostering innovation, sustainability, and regional collaboration to empower SMEs as essential contributors to the Arab region’s economic future.
