Family-Businesses concerned over Corporate Governance [Archives:2007/1027/Front Page]

By: Raidan Al-Saqqaf
SANA'A, Feb. 21 ) The first family business conference was inaugurated Wednesday under the auspices of Prime Minister Abdulqader Bajammal.

Gathering more than 250 local and regional businessmen, the conference is the first of its kind in Yemen and a milestone in the development of family businesses in Yemen. Participants will discuss topics concerning corporate governance, organizational structures and family businesses, as well as opportunities and threats family businesses face in this part of the world.

In his opening address, Bajammal stated that Yemen's economy relies heavily upon the role family businesses play in providing employment and driving growth. He called on first-generation entrepreneurs to be wise, make sound business decisions and learn from the experiences of other family businesses that collapsed in past decades.

He also called on the younger generation of managers to work hard, strive for excellence in an increasingly globalized world and work for the betterment of their countries and societies.

Taking place in Sana'a over two days, Feb. 21 and 22, conference participants are expected to come up with several working papers and recommendations that are bound to help family businesses continue playing a significant role in their countries, despite the challenges ahead.

See business page for more information on the conference.
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