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Maktoum Foundation, Silatech to combat joblessness

Dubai, May 9, 2009

The Mohammed bin Rashid Al Maktoum Foundation has entered into collaborative discussions with Qatar-based Silatech in an aggressive joint effort to combat the growing problem of youth unemployment in the Arab World.

The duo will work to end joblessness through addressing policies, access to training and jobs, and changing mindsets, said a statement from Al Maktoum Foundation.

Focusing on entrepreneurship and access to funds for micro, small and medium sized enterprises, the meeting comes ahead of Silatech’s June summit in Qatar and builds on the synergy established with the Foundation in 2008.

Led by Adel Al Shared, vice-chairman of the board and managing director, and Sultan Lootah, vice president - Entrepreneurship and Employment Sector, the Foundation officials met with senior Silatech representatives including Rick Little, chief executive officer, Nathanial Fields, director of Operations, and Abdul-Latif Ali Al Shayef, director of International Co-operation Programmes.

Launched last year by Sheikha Mozah Bint Nasser Al Missned of Qatar, Silatech shares an ambitious vision with the Mohammed bin Rashid Al Maktoum Foundation.

The two Foundations aim at engaging the public, private and civil society sectors to promote large-scale job creation, entrepreneurship and access to capital and markets for young people throughout the Arab world.

Sultan Lootah said the Al Maktoum Foundation constantly explores opportunities to enter into agreements with regional and international organisations to develop its entrepreneurship sector.

"By creating job opportunities for Arab youth and assisting in developing business leaders, the Foundation aims to contribute to improving economic conditions among individual Arab states and the Arab World in general."

"Our discussions with Silatech mark our keenness to partner with like-minded regional organisations to contribute to the overall development of the Arab World."

"This is part of the Foundation’s strategy to generate employment opportunities for qualified young people and encourage entrepreneurship and new ventures in the Arab world," he explained.

Rick Little said: "Ever since the formation of Silatech last year, we have built strong relationships with a wide range of key regional organizations to ensure the initiative fulfils its mandate as a truly collaborative response to one of the Arab World’s most pressing issues."

“As we move towards our Doha Summit in June, our discussions with the Al Maktoum Foundation have helped create a sustainable partnership for cooperation and joint investment,” he added.

In addition to its activities under the Entrepreneurship and Employment sector, the Mohammed bin Rashid Al Maktoum Foundation is actively engaged in strengthening capabilities in the Arab world through implementing various initiatives under its Culture and Knowledge and Education sectors.-TradeArabia News Service




Tags: Qatar | combat | Silatech | Al Maktoum Foundation | joblessness |

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