Tuesday, April 04, 2006

PEIE's World Summit on Innovation & Entrepreneurship Closes

The World Summit on Innovation and Entrepreneurship was brought to a close on Monday afternoon (3 April). Held under the patronage of His Highness Sayyed Shihab bin Tareq Al Saidi, Advisor to His Majesty Sultan Qaboos Bin Said, the Summit was attended by approximately 600 delegates, including royal family members, ministers, government officials, business leaders, and opinion makers from 56 countries. (Pictured: HH Sayyed Shihab bin Tariq Al Said - Adviser to His Majesty Sultan Qaboos bin Said (2nd from left) together with HE Badr bin Saud Al Busaidi - Minister Responsible for Defence Affairs (far left), and HE Maqbool bin Ali Sultan - Minister of Commerce and Industry (2nd from right), HE Yusuf bin Alawi bin Abdallah - Minister Responsible for Foreign Affairs (far right).)

Delivering the closing remarks, His Excellency Maqbool Bin Ali Sultan, Minister of Commerce and Industry for the Sultanate of Oman and Chairman of the Public Establishment for Industrial Estates (PEIE), stressed the impact innovation is having on businesses and economies throughout the world, adding that in today's economy, innovation and flexible regulation “are the main sources of profitability.”

Minister Maqbool also stressed his country's commitment to nurturing innovation and creating a suitable climate for entrepreneurship: “We, in the Sultanate of Oman, are fully aware of the importance of innovation, as we believe that the successful combination of innovation and entrepreneurship will contribute directly to the positive transformation of communities here in Oman and around the world.”

“The event has been a resounding success” remarked Sultan Al Habsi, Executive President, PEIE and the Summit’s lead organizer. Adding: “to have attracted speakers such as MIT’s Entrepreneurship Centre Managing Director Kenneth P. Morse, Ireland's Communications, Marine and Natural Resources Minister Noel Dempsey, UNDP Assistant Secretary General Bruce Jenks, Council of Arab Women’s President, HH Sheikha Hissah Saad Al Abdulla Al Salem Al Sabah, PepsiCo’s International Chairman, Michael White, Boeing’s Senior Vice President Richard Stephens and the President and Executive of Telecel International, Miko Rwayitare, we were obviously doing something right. Innovation and entrepreneurship are very much part of PEIE’s corporate culture and we’re delighted to have been involved in such an important and global Summit. Indeed, we look forward to taking this debate forward.”