The Arab Economic Forum is committed to fostering partnerships that aim to advance the economy of Arab society. The First Entrepreneurship Conference, held on July 14, 2021, at the Theater and Cinematheque in Umm al-Fahm, brought together a wide range of public and private sector institutions, including the Ministry of Economy, the Ministry of Social Equality, business agencies, banks, and experts in the economic, financial, and legal sectors.
The Arab Economic Forum, Bank Leumi, and Mercantile Bank organized this event in collaboration with Maof and the Umm al-Fahm Municipality. These partnerships helped promote local commercial interests, create job opportunities, and enhance the city’s economic standing.
During the conference, representatives from the Umm al-Fahm Municipality and sponsoring organizations highlighted the primary goal of the event: to increase knowledge and understanding of government support tools for businesses. Commercial interests serve as critical economic drivers in Arab towns, with financing being a central concern for stakeholders. The conference explored banking and non-banking financing options, examined various funding sources from financial and legal perspectives, and clarified the entities’ roles in financing these enterprises.
The opening session was moderated by Ms. Mona Masalha, Director of Economic Development and Resource Depletion at Umm al-Fahm Municipality. It featured remarks from Dr. Samir Mahameed, Mayor of Umm al-Fahm. Following the opening remarks, a dialogue session led by Accountant Ziad Abu Shakra, Head of the Finance Department at Umm al-Fahm Municipality, delved deeper into the conference’s themes. Contributions came from Naomi Hyman Reich, Deputy Director of the Small and Medium Business Interests Agency at the Ministry of Economy, and Accountant Mustafa Muhajna, Director of Ma’of Wadi Ara. They discussed government support measures for small and medium-sized businesses, complemented by multiple sessions led by consultants.
Key topics included financing concepts and goals, the industrial zone in Umm al-Fahm as a catalyst for employment and economic development, and an analysis of both challenges and successes in these areas. The conference offered valuable insights and practical solutions to enhance economic growth and support businesses in Arab society.
