Promoting entrepreneurship and expanding access to financial services are key to developing countries growing a vibrant private sector, United Nations Secretary General Ban Ki-moon has said.

According to him, the economic and financial crisis of the past several years has been, above all, a global employment crisis, said a report in the Gulf Daily News (GDN), our sister publication.

In a message delivered on his behalf at the First International Entrepreneurs Investment Forum at the Ritz-Carlton Bahrain, Hotel and Spa, the UN secretary general said the crisis has affected all countries and regions, and all segments of society, with especially negative consequences for the prospects of young people, as has been seen so vividly across the Middle East and North Africa region over the past few years.

"It is increasingly being recognised that industrialisation, if conducted in an inclusive and sustainable manner, can create jobs, generate income, increase productivity, transform economies and be a major driver of development."

He said that reaping these and other benefits primarily depends on fostering a dynamic private sector.

"In particular, countries need to promote competitive small and medium-sized enterprises (SMEs), which are the main source of economic activities and the largest employer in many developing countries - and the main engines of empowerment for women and young people."

Ban said he hoped the timely forum would foster exchanges of expertise and best practices, forge partnerships and identify investment opportunities.

"The UN member states are shaping a post-2015 development agenda and a meaningful agreement on climate change and such gatherings help in moving towards a new era of sustainable development," he said.

Being held under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, the inaugural edition of the three-day forum has drawn participation from more than 75 countries.

Deputy Premier Shaikh Ali bin Khalifa Al Khalifa was deputised by HRH the Premier to patronise the opening session.

Industry and Commerce Ministry Under-Secretary for Industrial Affairs Osama Al Arrayed, who delivered an address on behalf of Industry and Commerce Minister Zayed Al Zayani, said key initiatives to boost the SMEs sector in the kingdom include identifying and addressing gaps in government policies, making access to financing easier for them as well as improving their market access and means of developing technology used in these enterprises.

UN Industrial Development Organisation's (Unido) director-general Li Yong, who also spoke, hailed Bahrain's success in small, medium and micro-enterprise development and in training youth to start their own enterprises.

The Unido Enterprise Development and Investment Promotion programme, known as "the Bahrain Model" has already been adopted by more than 42 countries and at least another six are studying it, he said.

Unido is also keen to do more in support of aspiring Bahraini female entrepreneurs.

"We want to expand the entrepreneur programme in Bahrain, targeting more women interested in going into business and helping them in training and financing and holding their hand through the whole process," he said.

The Enterprise Development and Investment Promotion programme is aimed at helping potential entrepreneurs and investors translate their ideas into commercial ventures in the manufacturing and service sectors.

The emphasis is on SMEs, which have been recognised all over the world as an effective means of facilitating economic development, Mr Li said.

The success of the model led to the establishment in 2013 of the Arab Regional Centre for Entrepreneurship and Investment Training, whose activities include technical and financial support programmes, online networking, business incubation and human resources training. The centre also plans to launch networks for in-kind investment for young entrepreneurs. - TradeArabia News Service