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MENAFN - Arab News - 10/04/2014
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(MENAFN - Arab News) Experts have warned that the programs of productive families may be challenged by the presence of big companies in the saudi market and demanded that more opportunities be created for small and medium enterprises to diversify the market and strengthen the economy

Twenty-two saudi and arab experts made these observations during the second day of the 'made in saudi arabia" national forum and exhibition of the productive families program sponsored by makkah gov. prince mishaal bin abdullah in jeddah

The programs aim to train 5000 women and girls in jeddah with the participation of 600 families in the production of various goods and services

The participants in the first session chaired by loay bin bakr al-taiar dean of the student affairs college at the university of business and technology stressed the need to develop the capacity of more than 25000 families in saudi arabia involved in production activities. the session also discussed the best structural and regulatory practices for managing the activities of these productive families

Abdullah al-shamli shamsuddin predicted that the value-added returns from the projects of these families will exceed about 50 percent of its revenues and recommended that smaller projects be granted to promote economic development among low-income groups who represent a significant proportion of the population in all developing societies

Hatem bin hassan faraj qurmon a representative of the university of science and technology and a specialist in the management of marketing operations said that 90 percent of entrepreneurs and owners of small businesses leave the market after less than three years of launching their projects as a result of administrative errors namely marketing issues

Meanwhile redah al-asafi manager of the productive families program in the national commercial bank announced plans to launch 20 new branches in the next five years. these branches will specialize in the provision of microcredit loans and support 22000 productive families. 'the national commercial bank is the owner of the largest number of initiatives in this direction having trained 9904 beneficiaries through the productive families program launched several years ago" he said

Atef malaaka a financial adviser said the dominance of big companies in the saudi economic market is a catastrophic phenomenon with unknown consequences. he expressed his reservations about enabling the large corporations to control the reins of the national economy which are steadily contributing to the disappearance of the middle class

He emphasized the need to change the work culture arguing that the change should begin through education in schools where young people should be introduced to the importance of a working life.

Salah bin mahmoud abu nar a faculty member of the university of business and technology moderated the second session which focused on providing insight on the best financial funding and investment practices in the management of the productive families activities. during this session muhammad salim discussed the financial management approaches of different activities while another speaker hassan yousef defined the importance of the contribution of the private sector and government agencies

The third session headed by fahd bin yousef sharif al-itani a wto expert involved presentations of the success of the programs where mahmoud bin mohammed turkestani vice president of the social responsibility department of ncb reviewed the programs and initiatives introduced in the past few years

A total of 10 workshops were held covering topics such as the production of fashion design production and marketing of jewelry marketing of food productions funding and financial management

The event is the third in a series of meetings and exhibitions held in 2012 and 2013 under the same name but with different themes and activities. the event is carefully planned to keep pace with the developments of the market.


 


Arab News




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