Dr Mohammed al Barwani, chairman of MB Holding Company, and Abdullah al Hadi, chairman of Gulf Mining Materials, were respectively named Ernst and Young's Entrepreneur of the Year and Emerging Entrepreneur of the Year, at a ceremony held at the Al Bustan Palace Hotel on Saturday.
The first time the awards have been held in Oman, this year marked the 25th anniversary of the E&Y awards worldwide, with this year's Entrepreneur of the Year winners from more than 140 cities in 50 countries going on to the World Entrepreneur of the Year event in Monte Carlo in June.
Barwani, who left his job with Petroleum Development Oman 30 years ago to set up his own company, told reporters after the event that he initially expected to run a small company with up to 15 employees - a far cry from the 6,000 employees he has under him now in more than 20 countries. The MB Group chairman added that a good education is required for the next generation of Oman's entrepreneurs to succeed, especially as the private sector is gaining importance as a provider of jobs and generator of economic activity.
He said, "I think the key problem with Oman is employment and the private sector is very important for generating employment. We do not expect the government to employ more people. So now we need to see the private sector assume that role.
"I think the key requirement is good education. People should acquire a good education, discipline and drive, and work hard."
Having spent 19 years in the army, Abdullah al Hadi won his first recognition in business after his company was awarded its first chrome ore mine licence in 2005 for its facility in Wadi Maharam. The company now has 400 staff and produces 25,000 tonnes of ore per month and is the third largest supplier of chrome ore to China.
The company also has a marble mine in Egypt, an aluminium factory in Ras al Khaimah, UAE, and manganese and chromite mines in Turkey.
Battling fluctuating mineral prices, Hadi said his big break came three years back when the company remained stable and solid through the tough global economic climate, with the business now debt-free.
He said, "The award will give us strength and motivation."
© Muscat Daily 2012
