The Mena-OECD has already set up three enterprises in the region and is now set to move into the second phase of its development, the executive director of the organisation's investment programme said.

Speaking at the third meeting of the enterprise financing network, hosted by the Bahrain-based Mena Centre for Investment, Dr Alexander Bohmer said the organisation had already set up a network of more than 1,000 entrepreneurs, venture capitalists, private equity and other financial institutions.

'The next phase is bringing forward business proposals and bringing entrepreneurs together with the financial people to see developments across the 18 Mena countries.'

He said incubator operations had already been set up in Bahrain and Jordan, while the organisation had helped in the establishment of a shrimp farm in Saudi Arabia.

More than 40 delegates attended the meeting at the Diplomat Radisson SAS Hotel, Residence and Spa yesterday with 10 countries represented.

Mena Investment Centre deputy chairman Dr Abdulla Al Sadeq opened the meeting, which was attended by Mena Investment Centre chairman and Economic Development Board deputy chief executive Dr Zakaria Hejres as well as officials from the OECD, experts and representatives of various local and regional organisations, business entrepreneurs, owners of small and medium sized enterprises and financial institutions.

'By holding such activities in conjunction with the OECD, the MENA Investment Centre aims to create an ideal platform to link innovators, entrepreneurs and owners of small and medium sized enterprises with incubators and financial and technical institutions,' said Dr Hejres.

The Mena-OECD Enter-prise Financing Network is a platform linking together all participants involved in the entrepreneurial process.

It helps mobilise resources and develop financial instruments to facilitate greater access to finance for the creation and expansion of enterprises, contributes to diminishing the equity financing gap in the region and advocates for appropriate government policy to support growing enterprises.

It uses the Mena-OECD Investment Programme as a forum for exchange of good practice between Mena and OECD business and government representatives.-TradeArabia News Service