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Entrepreneurship: Young Leaders and Economic Growth Dr. John D. Sullivan Executive Director Center for International Private Enterprise An Affiliate of the U.S. Chamber of Commerce Entrepreneurship عربي English المبادرة األبتكار الخلق و األبداع ريادية األعمال الريادية Entrepreneurship Key Elements of Entrepreneurship Establish a market-oriented policy environment based on sound legal and regulatory structures Entrepreneurial training and development programs Government support and assistance programs, such as access to risk capital for new and small business The Entrepreneurial Instinct English عربي Problem مشكله Opportunity فرصه The biggest problem in the Arab world is lack of deal flow Hani Tawfiq Chairman, Arab Private Equity Union There is no shortage of capital, there is a shortage of doable deals Richard King Mellon American Financier Hernando de Soto & the Informal Economy What is the extra-legal/informal economy? The importance of sizing it up and figuring out what to do about it. Communication: inclusion instead of exclusion The idea of development is figuring out how to move from personal exchange (on the level of family and individuals) to impersonal contracts with individuals whom you never meet or know – Douglass North Functioning Markets Better Environment for Doing Business Property Good Market Rights Governance Entry Rule of Access to Law Information Doing Business Indicators 2009 • Starting a business • Dealing with licenses • Employing workers • Registering property • Getting credit • Protecting investors • Paying taxes • Trading across borders • Enforcing contracts • Closing a business Understanding the Indicators Starting a business Getting credit Protecting investors Dealing with Licenses Registering property Enforcing contracts Trading accross borders Paying taxes Business Enabling Environment (BEE) Areas Employing workers Access to finance Closing a business Juridical system Doing Business indicators have relevant links to private sector development Progress in Doing Business in Syria Overall ranking of Syria on ease of doing business is 137 among 181 countries Ease of... BEE areas Access to finance Juridical system DB 2009 rank DB 2008 rank Change in rank Starting a Business 124 171 +47 Dealing with Licenses 132 124 -8 Trading Across Borders 111 127 +16 Paying Taxes 99 102 +3 Getting Credit 178 177 -1 Registering Property 71 80 +9 Protecting Investors 113 110 -3 Enforcing Contracts 174 173 -1 Employing Workers 122 132 +10 Closing a Business 84 80 -4 Change in 47 points shows significant improvement and potential for Syria Source: Doing Business database, IFC- World Bank Group Business entry reforms = more businesses Easiest Business Density Business Entry (registered firms per capita) (new firms in % of registered firms) Most difficult Easiest Most difficult Countries ranked by ease of doing business, quintiles Source: Doing Business database, IFC- World Bank Group …Which Means More Formal Employment Easiest Informal Sector Unemployment (% of GDP) (% of labor force) Most difficult Easiest Most difficult Countries ranked by ease of doing business, quintiles Source: Doing Business database, IFC- World Bank Group To learn more about Doing Business in your region… http://arabic.doingbusiness.org English عربي Problem مشكله Opportunity فرصه Useful CIPE Resources http://www.cipe.org Websites: CIPE Arabia (Arabic) http://www.cipe-arabia.org Efham – Youth Entrepreneurship site in Arabic http://www.efham.net CIPE Development Institute : Entrepreneurship and Innovation http://developmentinstitute.org Publications: Prosperity Papers Series: Entrepreneurship Available in English & Arabic Additional Relevant Websites Summary & Details of Key Doing Business Indicators for Syria: English- http://www.doingbusiness.org/ExploreEconomies/?economyid=183 عربي- http://arabic.doingbusiness.org/ExploreEconomies/default.aspx?economyid=183 Doing Business in the Arab World, 2009 (English only): http://www.doingbusiness.org/features/ArabWorld2009.aspx Doing Business, 2009 World Report (English only): http://www.doingbusiness.org/documents/Press_Releases_09/DB09_Overview.pdf Arab Monetary Fund ( العربي ) صندوق النقد: English- http://www.amf.org.ae/pages/page.aspx عربي- http://www.amf.org.ae/pages/page.aspx?type=8