The Center for Entrepreneurship (CFE) at CBE held on November 8 a workshop on “Sustainability of Family Business in Qatar” aimed to highlight the importance of family business in Qatar and the GCC, and to provide instructions and guidance on how to establish a long-term and successful family business.
The opening ceremony was attended by QU President Dr Hassan Al Derham, Qatar Chamber Chairman H.E. Sheikh Khalifa Bin Jassim Bin Mohammed Al Thani, CBE Dean Dr Khalid Shams Al-Abdulqader, CFE Director Dr Mahmoud Mohamed Khalil, and Qatar Industrial Manufacturing Company (QIMC) CEO Mr Abdul Rahman Abdulla Al-Ansari, as well as CBE faculty and students.
The event’s program featured two panel discussions on “Sustainability of Family Business” and “Listing Family Businesses in Qatar Stock Market” moderated by Dr Mahmoud Mohamed Khalil and Assistant Professor of Finance in CBE Dr Mohamed Elgammal, and delivered by QU Professor of Management Dr Marios Katsioloudes, Partner at Deloitte Private Family Enterprise Consulting Walid S Chiniara, Legal Director at Pinsent Masons Qatar Office Roger Phillips, Director of Listing at Qatar Stock Exchange Abdulaziz Alemadi, and Salam Enterprises CEO Dr Adnan Stitieh.
In his remarks, Dr Hassan Al Derham said: “It is a great pleasure to host this significant event on globalization and sustainability of family business in Qatar. As Qatar’s national higher education university, QU is committed to support the country’s efforts to achieve sustainable development by maximizing its role in community service and by providing research solutions for issues that are of the interest of the society. The university is also committed to supporting and encouraging entrepreneurial business and activities that contribute to the development of the private sector in Qatar.”
Dr Hassan Al Derham noted that the private sector plays a pivotal role in the realization of economic diversification and sustainability in line with Qatar National Vision 2030. He also noted that the private sector’s activities cover the country’s main economic activities that are not related to the oil and gas sector. The contribution of the private sector in the GDP (Gross Domestic Product) has increased in the recent years to 50%, Dr Al Derham said, adding, “It is very important to maintain the involvement of the private sector in the GDP and to help family businesses overcome the various challenges, which will contribute to the country’s economic development and growth.”
He added: “By hosting this workshop, QU contributes to raising community awareness on the economic environment in which a family business grows, and to understand its positive impact on the local and regional economy. It is also an opportunity to shed light on successful family businesses in Qatar and beyond.”
H.E. Sheikh Khalifa Bin Jassim Bin Mohammed Al Thani said: “I would like to extend my gratitude to QU for its vital role in raising community awareness on the importance of a family business in developing the country’s economy and ensuring the stability of the market. In Qatar, family businesses contribute to increasing the GDP despite the various challenges they face.”
Dr Mahmoud Mohamed Khalil said: “This workshop aims to raise awareness on the importance of a family business by shedding light on successful family business models in Qatar. It also contributes to heighten the student’s abilities and capabilities, and to advance research that serves the socio-economic sector in Qatar.”
Mr Abdul Rahman Abdulla Al-Ansari said: “A family business plays a core role in developing a country’s economic sector. 65% of the job opportunities in the GCC are created by family businesses. It is important that we contribute to finding efficient solutions for the challenges that a family business may face to ensure its continuity and stability.”