Date: October 23, 2018
Zubair Small Enterprises Centre (Zubair SEC) has signed a Memorandum of Understanding (MoU) with Cubical Services, a Kuwait-based company to jointly explore entrepreneurship development in the two countries and support cooperation between Omani and Kuwaiti SMEs.
The MoU was signed by Mohammed Al Hasani, Chief Communications Officer, The Zubair Corporation and Abdulrahman Al Fawaz, CEO and Founding Partner, Cubical Services at the company headquarters in Kuwait.
Cubical Services assists start-up companies launch and establish their businesses through a specialised range of services customised according to business needs. Zubair SEC, a social responsibility initiative of The Zubair Corporation, provides advisory and capacity building services along with networking opportunities and business development support to its members.
The MoU was signed to form a strategic partnership that will focus on promoting cooperation, innovation and business collaboration among entrepreneurs and small and medium-sized enterprises in Kuwait and Oman. According to the agreement, both sides will cooperate in areas such as business facilitating, information and knowledge sharing, training activities and professional networking. Both sides will leverage their resources to provide better services for Kuwaiti and Omani start-ups and entrepreneurs in multiple sectors.
The main areas of collaborations will include helping members set up companies in respective countries, assist in match-making, introduce potential vendors and partners, organise events, arrange visits for select businesses and members from each side and cooperate on any other areas of mutual interest.
Emphasising that the MOU is aimed at promoting regional entrepreneurship activities, Mohammed Al Hasani, Chief Communications Officer, The Zubair Corporation said, “We are delighted to partner with Cubical Services, a renowned company which offers comprehensive advisory, administrative and support solutions for business owners and aspiring entrepreneurs. Under the framework of this MoU, we will identify opportunities for cooperation and identity platforms to develop existing businesses or implement new business ideas. This collaboration will help SMEs in both countries gain better access to a wider market network.”
He added, “The agreement allows both parties to support, connect and work together in every way possible. The MoU will also provide the framework to explore the possibilities of joint business ventures between aspiring entrepreneurs of the two countries. At Zubair SEC, we look forward to introducing our members to the exciting opportunities presented by this agreement. We always look forward to partnering with various regional and global partners with the aim of collaborating in trading best practices, exchanging experiences and enabling business connections to contribute towards the development of small and medium enterprises.
Abdulrahman Al Fawaz, CEO and Founding Partner, Cubical Services said, “We are honoured to partner with Zubair SEC which has been offering start-ups and SMEs a comprehensive support system in Oman. Cubical Services’ vision too is to provide our clients with the support and environment needed to firmly establish the foundations of a successful business, as well as improve and grow their business according to the highest standards.”
He added, “Within the framework of the two centres we can work closely to augment the capabilities of Omani and Kuwait SMEs in the regional markets, This, collaboration will strengthen cooperation among small businesses in both the countries through joint efforts.”
Zubair SEC has gone beyond the traditional notion of a business incubator and moved towards a holistic ecosystem offering partnership, collaboration and affiliation. Recently Zubair SEC had signed a MoU with Bahrain Small and Medium Enterprises Development Society, a non-profit society that assists youth entrepreneurs, to strengthen cooperation among smaller businesses in the two countries through the joint efforts.