Small-medium enterprises (SMEs) are the backbone of the Malaysian economy, accounting for 38.9% of Malaysia’s total GDP in 2019. Furthermore, share of SMEs exports to total exports in 2019 was 17.9% and SMEs employment comprised of 48.4% from Malaysia’s employment (i.e. 7.3 million persons in 2019)
Doha, February 17 (QNA) – Qatar International Center for Conciliation and Arbitration (QICCA) held, through visual communication technology, a webinar on ” Business Recovery and Resilience for Enterprises “, aimed at raising corporate awareness of companies in a way that contributes to the recovery, stability and sustainability of business.
HE Qatar International Center for Conciliation and Arbitration (QICCA) Board Member for International Relations Sheikh Dr. Thani bin Ali Al-Thani said in a speech, opening the webinar, that Arab economies attach special importance to companies of the private sector as they play a pivotal role in achieving regional visions and advancing economic growth.
HE Sheikh Thani added that the speed of the economic recovery depends mainly on the ability of companies to resume their usual activities and to establish programs to enhance productivity and promote competitiveness and involve them in the development plans developed by the State.
HE noted that companies and business institutions faced during the crisis of COVID-19 pandemic a sharp decline of revenues and activities, pointing out that this governments of some countries to issue decisions that included postponing the payment of loan installments granted to companies or exempting them from electricity, water or rent consumption fees, etc., as well as activating the national guarantees program to respond to the repercussions of Corona in order to facilitate the companies’ exit from the crisis that affected it.
“In view of the interest of countries to monitor the activity of emerging companies as a key driver of sustainable economic diversification, many companies sought to survive during the crisis by providing fast e-commerce solutions or setting up quick communication platforms with their customers, but some of them stumbled as a result of changing circumstances and inability to fulfill of their obligations,” HE Sheikh Dr. Thani bin Ali Al-Thani pointed out.
HE Sheikh Thani also highlighted the legal challenges facing companies, stressing that the pandemic has caused great difficulties for companies to implement their contractual obligations as a case of force majeure or an emergency accident. To solve these legal difficulties, he said that it is necessary to establish mechanisms that allow contractors to negotiate and review contract terms or suspend the implementation of obligations for a specific period.
For his part, Executive Director of Badeal for Business Solutions Dr. Ahmed Alfaqeeh said that the webinar is an extension of the guideline that was launched in October 2020, which dealt with the most important issues related to recovery and resilience of businesses, noting that the webinar aims to raise corporate awareness of companies that may contribute to recovery, stability, and sustainability of businesses.
Alfaqeeh also noted that Badael in cooperation with QICCA would introduce the Business Resilience Index to concerned entities in the State, affirming that it would be beneficial for all institutions, especially SMEs.
The panelists included Minas Khachaturian, Legal Counsel of the Qatar International Center for Conciliation and Arbitration (QICCA), who outlined avoiding commercial disputes by using alternative means, while Khalid Al-Mana, Executive Director of Business Finance of Qatar Development Bank (QDB), delivered a presentation on Current Business Models and the Future of SMEs. On his part, Associate Professor at College of Law, Kuwait University, Adviser to the World Bank Dr. Fahad Al Zumai spoke about laws resulting from the Corona regulation and its impact on Kuwaiti companies.
CEO of Gamar Leadership Group and Teacher of Adaptive Leadership at Harvard Adel Gamar explored the role of adaptive leadership and capacity building in business recovery and resilience. while Associate Professor at College of Business and Economics, Qatar University – An expert in Operations Management and supply chain Abdullah Al Suwaidi highlighted the strategic transformation for the supply chain management. Managing Directors & Partner at Pemandu Associates Larvin Rengasamy spoke about managing business during and after crisis. (QNA)
Source: Qatar News Agency
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