ISLAMABAD: Due to the launch of the Women’s Business Opportunity Initiative, an effort led by non-profit WEConnect International, women-owned companies in Pakistan that are ready to expand by being part of global supply chains will now have access to world-class training, networks and knowledge.
The Women’s Business Opportunity Initiative is designed to increase global supply chains’ inclusiveness and competitiveness and to help women entrepreneurs in Pakistan access opportunities to expand and succeed in their companies.
In order to develop inclusive and sustainable supply chains in Pakistan, the programme aims to encourage research, capacity building and matchmaking between companies and eligible women’s enterprises. This will help women entrepreneurs gain access to opportunities to develop and succeed in their companies.
Angela P Aggeler. The US Embassy Islamabad Charge d’ Affaires had to say, “Through this initiative, there is great potential to strengthen women entrepreneurs’ foothold in Pakistan’s economy, as well as across borders with multinational corporations. Boosting revenues of women-owned businesses benefits their employees, families, and communities,”
Speaking at a virtual event hosted by the US Embassy of Islamabad and the US-Pakistan Women’s Council during the Global Entrepreneurship Week, Angela P Aggeler said the International Monetary Fund (IMF) estimated that closing the gender gap in the economy could improve Pakistan’s competitiveness and development by 30%.
She further went on to say that, “Unfortunately, women are held back from effectively contributing to the growth of Pakistan’s economy by regressive laws, social and cultural norms, corporate practices, social policy, and in some instances, violence, coercion, and threats from those intolerant of women’s participation in the economy. However, we know many in Pakistan are working to overcome these challenges, and this is one of the many areas of strong collaboration between Pakistan and the United States, such as USAID’s efforts to promote small and medium enterprise growth and development.”
Aggeler said the economic benefits from investing in women and girls were enormous, adding that the continued rise in women’s income in the US was responsible for much of the increase in American families’ incomes.
Globally, female entrepreneurs take in less than 1 percent of the money big companies and governments spend on vendors, according to WEConnect. To help fix the condition, the Women’s Business Opportunity Initiative is intended.
Approximately one-third of Pakistani buyers buy from women-owned companies, according to a study presented during the case, and one in four has a policy that supports inclusive sourcing.
