The Global Entrepreneurship Summit (GES) was announced in 2009 by US President Barack Obama in his speech at Cairo University in Egypt. GES made its debut the following year when the first event was held in Washington to empower entrepreneurs with the skills and resources necessary to thrive in a competitive market.
The event will also offer stakeholders insights into the regional business climate while providing entrepreneurs access to institutional and private investors.
The send-off for Omani delegates was attended by local entrepreneurs, government officials and business stakeholders.
Speaking at the event, H E Greta C Holtz, US Ambassador to the sultanate, said, “We must tackle the challenges that entrepreneurs and small and medium enterprises (SME) face, whether be it through reforms in education, the labour market, guaranteeing financing for small business or reducing bureaucratic obstacles.”
“SME development is vital to Oman's economic future in the long term, which makes GES more important to Omani entrepreneurs,” said H E Greta.
Four young entrepreneurs representing Oman at GES are being sponsored by bank muscat's private banking division and McDonald's.
“These young entrepreneurs will have access to international expertise on how to develop a successful business environment,” said Ali K Daud, president of MABC.