Mohammed bin Rashid Al Maktoum Foundation and Silatech Launch Joint Initiatives for SME Capacity Building at Doha Summit

Programmes to Focus on Leadership and Adaptation of Content for Skill Development

Doha - Qatar: 08 June, 2009 - The Mohammed bin Rashid Al Maktoum Foundation and Silatech, today announced the launch of two initiatives as part of a collaboration for ensuring the capacity building of young Arabs towards the overall development of the region.

As one of the first outcomes of a three-year agreement signed between the Foundation and the Silatech in 2008, the first initiative will focus on 'Leadership Development' of young Arab entrepreneurs for incubating and growing successful and sustainable SMEs in the region. The second will prioritise the translation and adaptation of content for Silatech's skills development and training services across the Middle East and North Africa region.

Adel Al Shared, Vice-Chairman and Managing Director, Mohammed bin Rashid Al Maktoum Foundation, said: "The Foundation and Silatech share common values and pursue similar objectives for promoting youth employment, entrepreneurship and enterprise development programmes. These common goals have led the two organisations to identify a number of operational initiatives for joint programme development and cooperation.

"Comprehensive in nature and aimed at capacity building in the Arab world, the initiatives will open up niche opportunities and access to high-quality content and resources, as well as financing to deserving youth keen on making a difference in their communities. Moving forward, we are confident of accomplishing several challenging milestones for the benefit of the region."

The first initiative, focusing on leadership development, will focus on young Arabs who will be selected to participate for a specially designed module that is modelled on similar global programmes but adapted to the unique needs of successful young entrepreneurs and owners/operators of SMEs in the region.

The second programme focuses on developing a pan-Arab network of highly skilled, certified trainers to provide large scale training for young people in specific skills, required across a wide range of sectors in order to provide specific international competency qualification to young people.

Rick Little, CEO of Silatech, said: "This is a great opportunity for young people in the MENA region to benefit from the collaboration of two major initiatives created to help change the realities they confront on a daily basis. We believe that the enhancement of skills and building the leadership capacity of young Arabs is a necessary step in the journey towards reaching their full potential and contribution to the economic life of society at large."

In June 2008, the Foundation and Silatech signed a Memorandum of Understanding indicating their mutual intention to cooperate in a number of areas that will empower the youth in the Arab world to play more significant roles in the social, political and economic landscape. Over the past 10 months, both organizations have further defined their respective strategies and priorities, offering wider scope for extending their co-operation to ensure the progress of young people in the Arab world.

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About Mohammed Bin Rashid Al Maktoum Foundation:
The Mohammed bin Rashid Al Maktoum Foundation was founded on the personal initiative of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, with an endowment worth US$10 billion. The Foundation was announced by His Highness Sheikh Mohammed at the World Economic Forum on the Middle East held at the Dead Sea, Jordan, in May 2007. Through three strategic sectors of Culture, Knowledge and Education, as well as Entrepreneurship and Employment, the Foundation seeks to develop knowledge and human capabilities in the Arab world. The Foundation's three underlying principles are; Building the region's human capital with a pool of knowledgeable and talented individuals; Offering better opportunities for the region's younger generation to acquire knowledge and secure a better future; and Promoting leadership qualities among the younger generation to enhance their living standards.

About Silatech:
Silatech is an innovative initiative engaging the private, public and civil society sectors to promote large-scale training, job placement, and entrepreneurship for young people. It is intended to help address the critical issue of youth unemployment, a serious and growing challenge impacting countries throughout the world. With the support of His Highness the Emir of Qatar and Her Highness Sheikha Mozah bint Nasser Al Missned, Silatech was first announced in 2008 at the UN Alliance of Civilizations Forum in Madrid and launched in 2008 at the Doha Summit in June. Silatech means "your connection" in Arabic, and its strength is in partnering with leaders, corporations and organizations globally to promote opportunity and innovation for young people.

For further information please contact:
Sultan Al Jesmi
Mohammed Bin Rashid Al Maktoum Foundation
Tel: +971 4 4233 472
Email: sultan.aljesmi@mbrfoundation.ae

Mathilda Saad
JiWin
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+9714 361 3333 (switchboard)
+97150 699 9890
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Email: mathilda.saad@jiwin.ae