Mohammed Alardhi is the executive chairman of Investcorp, chairman of Muscat Stock Exchange MSX and chairman of Royal Jet
February 15, 2024
Leaders and investors around the world have been looking towards the GCC and Asean nations to learn from the steady progress they have made in recent decades. Despite global economic setbacks, both groupings project positive growth and their approach can inform blueprints and frameworks for other nations to grow in the same way.
The GCC and Asean countries have formed close partnerships that are crucial to long-term socio-economic progress that emerging markets aspire to themselves. There is room for the Gulf and South-East Asian nations to collaborate further to support other nations while also diversifying their own interests.
While every region and nation has a particular range of hurdles – from political structures to business structures, education systems, industry, international relations, revenue, climate change and so on – it is never too late to start planning and seeking the expertise of countries that have overcome similar challenges.
Oman is particularly well-placed to enable allyship between the GCC, Asean members and emerging economies. Its unique approach to foreign policy promotes mutual benefit, respect and prioritises peace as well as maintaining cordial relations among all stakeholders.
First and foremost, every emerging market must conduct a thorough analysis of their education sector and work towards reform. For example, Oman’s literacy rate grew from 54.7 per cent in 1990 to an impressive 97.3 per cent in 2022 as reported by the World Bank, and there is capacity for other nations to achieve solid growth in coming decades as well.
Tourists visit a cave at Ain Razat, a water spring in Salalah, Dhofar province, Oman. Reuters
Literacy and primary schooling are a baseline. Governments must also seek support to expand higher education and skills training. With several online options available, education and training can be far more accessible for more people but barriers to technology and other resources must first be addressed.
There are innumerable case studies on expansion and development of education systems, and there are untapped opportunities for Oman and other nations within the GCC and Asean countries to partner with the right organisations and invest in education sectors to boost literacy, higher studies, skills training and employment in other countries.
Infrastructure projects in emerging countries are excellent investments that can pave the way for more innovation and revenue streams in the future. Nations in the Middle East and Asia that have developed efficient internal systems. They have acquired expertise in areas such as urban planning and transport systems and they have improved the ease of doing business. A similar trajectory can lead other nations to create and fine tune components that will support their own economies.
Over the past few decades, Oman has established itself as a premier tourist destination. It attracts visitors from all parts of the world for business and leisure. The sultanate’s strength lies in understanding a broad range of cultural, political and business landscapes. It can thus facilitate peace, good relations and catalyse initiatives that benefit all parties and lead emerging nations to build frameworks and partnerships – these are required to create flourishing tourism sectors.
The outbreak of Covid-19 reminded people of how connected the world is. We cannot deny the impact of an event such as a pandemic. It is important for nations that fared relatively well through those challenging times to look outwards and offer their resources – from business expertise to education, planning, industry know how, systemic reform plans, etc – to emerging nations, to support them and help them adapt so they too grow and fare better.
Strategic partnerships with strong global allies could be just the push the world needs to fulfil universal socio-economic goals in coming decades. I invite fellow Omani citizens, from industry leaders to the youth, to carry the tradition of entrepreneurship and alliances forward on a scale that stretches beyond national and regional borders.
There is a lot of untapped potential in terms of global partnerships. We can take the best of what the sultanate has achieved, along with the successes of other GCC member states, as well as Asean countries, and engage with them and boost nations that are facing challenges, not unlike those that Oman has faced in previous decades. The creation of industries and empowerment of citizens are no easy feats. Varied perspectives, however, and a desire to collaborate for mutual benefit can go a long way.
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Men's draw: Victor Scvortov and Khalifa Al Hosani, (both 73 kilograms), Sergiu Toma and Mihail Marchitan (90kg), Ivan Remarenco (100kg), Ahmed Al Naqbi (60kg), Musabah Al Shamsi and Ahmed Al Hosani (66kg)
Women’s draw: Maitha Al Neyadi (57kg)
Benefits of first-time home buyers' scheme
Priority access to new homes from participating developers
Discounts on sales price of off-plan units
Flexible payment plans from developers
Mortgages with better interest rates, faster approval times and reduced fees
DLD registration fee can be paid through banks or credit cards at zero interest rates
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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
10 tips for entry-level job seekers
Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
UAE SQUAD
Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan