The Sharjah Chamber of Commerce and Industry (SCCI) formally announced its signing of a Memorandum of Understanding (MoU) with leading economic and strategic consultancy firm Monitor Group Limited during a high-profile meeting recently between the two parties. The MoU was signed by SCCI Director General Hussein Mohammed Al Mahmoudi and Dr. Sean McCarthy, Deputy Director of Monitor Group Limited, in the presence of a number of senior officials from both sides.
The agreement aims to develop the joint visions of both parties and enhance their cooperation in various areas of common interest. The Chamber and Monitor Group will create an effective framework that will cover areas such as strategies to support SMEs; developing an international relations network for the Chamber with its regional and international counterparts; providing technical support to enable the formation of a specialized centre for the administrative and economic consultancy services in the Chamber; and cooperation between both parties to create strategies and mechanisms for the development of business and economic projects.
During the meeting, the two groups signified their total commitment to improving business conditions in Sharjah and throughout the UAE. They pledged to enhance local potentials and abilities to strengthen the status of small and medium enterprises, as well as their contributions to the development of society. Furthermore, the two parties committed to working together to support the emirate’s development process by organising and hosting a number of high-profile conferences and forums aimed at addressing issues of common interest and promoting the visions and goals of both parties, particularly in the areas of local business and investment.
Al Mahmoudi said: “Our agreement with Monitor Group affirms our commitment to working within a framework that focuses on advanced knowledge based on clear scientific methods for measuring and monitoring business and investment realities in Sharjah. Through this partnership we aim to promote investment and business opportunities in Sharjah’s private and public sectors. We shall achieve this by using information from integrated consultative studies that will be provided by the Group to improve our services in various areas. We welcome Monitor Group as our Consultative arm and look forward to jointly organising more conferences and forums to support the society of Sharjah in expanding its environmental, educational, social and economic advantages.”
Al Mahmoudi also commended the important role of this agreement in helping SCCI forge common relations with chambers of commerce in various countries across the world, which would then help in establishing the region as a major hub for commercial relations. In line with this, the Chamber is looking forward to cooperating with several parties to continue its efforts to develop its abilities with the aim of supporting the development process in Sharjah on various levels. The starting point, Al Mahmoudi said, would be the implementation of governance strategies and high standards of work ethics, such as clarity, credibility, transparency and proper accountability within the regulatory bodies of Sharjah.
In addition, the Director General referred to the adoption of new consultative policies and strategic plans that will contribute to the development of manpower skills and the required infrastructure to enhance the SCCI’s services, as well as the provision of a competitive environment based on the partnership between the private and public sectors. These, he explained, would promote productivity and increase growth rates and in effect maintain the diversity of the national economy.
“We are proud to be appointed by the SCCI as its consultative arm, as this provides us with an important opportunity to contribute effectively to the growth of the emirate. Through our work in the consultation field, we intend to fully support the strategies of the SCCI, which plays a significant role especially during this period. We need to exert extra effort to overcome the global challenges and difficulties that hinder sustainable growth,” added Dr. Sean McCarthy.
Under the terms of the agreement, Monitor Group will provide consultancy services and complete support to the associate members of SCCI; this will serve as a mechanism of liaison between companies, markets and new investments opportunities. The Group also aims to redefine the work plans and strategies of the Chamber so that it can better develop its policies and implement practices and services in accordance with the highest international standards. In addition, the consultancy firm’s assistance would support the Chamber’s new objectives, such as encouraging women to enter the work market and thus effectively contribute to the economic growth of the emirate. The Group also aims to provide all the necessary resources to deploy training programs for human resources and to develop employee qualifications in the areas of consultation and business practices.
For its part, the SCCI will take advantage of the agreement to expand its strategic plans and projects despite the challenges imposed by the international financial crisis. The Chamber will also provide Monitor Group with the opportunity to offer its economic and strategic consultations for its members as well as a number of government bodies, particularly the government of Sharjah.
Monitor Group Limited is a leading provider of consultative economic and strategic services. The company has extensive experience in working with several governmental and private bodies and authorities in the region.
