Business | Economy

Sharjah to guide private sector through economic downturn

The government of Sharjah and a private organisation will guide the private sector through the economic slowdown with sustainable development education.

  • By Nadia Saleem, Staff Reporter
  • Published: 23:04 February 10, 2009
  • Gulf News

Sharjah: The government of Sharjah and a private organisation will guide the private sector through the economic slowdown with sustainable development education.

The Business Council for Sustainable Development UAE, the local arm of the international organization, based in the Sharjah Chamber of Commerce and Industry (SCCI) will work with Alleem Learning Centre to promote the necessary education for local businesses.

Rashid Al Leem, founder and chairman of Alleem Learning Centre, said that this is the first step to overcome the economic downturn. "Unfortunately, what is happening in the market today is that people are reacting. That's why we have a lot of redundancies, companies closing down and an endless list of actions that companies, individuals and governments are taking due to a lack of proper knowledge," Al Leem said.

The best way to deal with the economic downturn is by responding after analysing the factors affecting the business, which may be financial, economic and social, he added. "Sustainable development teaches the right mix of elements to make decisions. Those who think that the elements are isolated are experiencing failure," said Al Leem.

Mohammad Ahmad Ameen, assistant director-general of Economic and International Affairs at SCCI signed the agreement of cooperation for the two organizations. and said that the chamber is focusing on several measures.

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