Manama Declaration Calls for Women-Led Economic Transformation

• The Manama Declaration was made at the end of the World Entrepreneurs and Investment Forum
• The declaration emphasizes the importance of women in economic change
• Women’s empowerment is seen as important for sustainable growth

The Declaration of Bahrain was presented at the conclusion of the Bahrain World Entrepreneurship & Investment Forum. It recognises that women must be central to the transformation of global economy.

It also calls for a substantial increase in women’s participation in emerging economies, including green, blue and orange economy sectors which address environmental conservation, sustainable use of ocean resources and creative industries.

The Forum brought together a wide range of stakeholders, including, but not limited to policy makers, investors and entrepreneurs, and has also established partnerships among the participants.

A major focus of the Forum was to discuss collaboration, innovation and improved access to finance as ways to create opportunities for women-owned businesses and contribute to increasing economic resilience.

The Forum provided many immediate and tangible outcomes for those involved, such as the result of business-to-business meetings leading to new partnerships and collaboration between countries throughout the region, especially in MENA.

Entrepreneurs from Bahrain, Nigeria, Sri Lanka and many other countries shared their common challenges including limited access to capital, limited access to technology and limited access to markets.

Entrepreneurship enables skills improvement, enables people to socially integrate, and helps communities become more resilient, especially in the creative and cultural industries.

Another area of emphasis was how academic institutions can support women’s entrepreneurship. The need for experiential education, mentoring, and connections to funding sources in the context of integrating entrepreneurship into postsecondary education was noted by speakers.

Additionally, it was recommended that universities act as bridges between students and their larger entrepreneurial ecosystems.

At the International Women’s Entrepreneurial Challenge (IWEC) annual conference, the focus of participants was on the empowerment of women-owned businesses around the world. Following the conference, participants continued their engagement with a forum on entrepreneurship.

Director General of the United Nations Industrial Development Organization (UNIDO), Gerd Müller, addressed the importance of women’s entrepreneurship as a key factor driving innovation and sustainable development.

He also emphasized the importance of developing targeted support for women entrepreneurs suffering from crisis-related challenges in order to restore their livelihoods.

According to the speakers, women comprise a significant portion of the global production capability; therefore, by enhancing women’s leadership and helping to build their business growth capacity, we could produce significant economic and social benefits.

In conclusion, the outcomes resulting from the declaration and forum reinforced that women’s entrepreneurship is an integral Strategy for developing a sustainable economy and advancing equity and inclusion.