First Meeting of the MENA-OECD Enterprise Financing Network

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Bahrain, 3 May 2006

The launch of the MENA-OECD Enterprise Financing Network in Bahrain on 3 May 2006 brought together key representatives of the private equity industry, business incubators, research institutions and government regulators to discuss regulatory measures to support entrepreneurs in the region through innovative financing arrangements.

This event was organised jointly by the MENA-OECD Investment Programme and the newly established Bahrain-based MENA Investment Center, a contribution of the Kingdom of Bahrain to the MENA-OECD Investment Programme, which provides unique facilities to foster research on investment and image building for the region. The importance of this new initiative to the region was reflected in participants comments - Riad Al-Khouri, a representative of Arab Business Council stressed that "empowering entrepreneurial spirit is key for overcoming the investment gap in the region." The participants agreed to work together within the framework of the Initiative and to keep pushing reform efforts. The President of the Gulf Venture Capital Association echoed this view when he argued for the need to “do the hard work, join and learn" and "don't wait for regulations to change". Participants to the meeting included key private sector participants, private equity firms, and regulators from both MENA and OECD countries.

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