By MOHAMMAD SHOEB
DOHA: Establishing a business in Qatar has become much easier than before. What the older generation achieved in half-a-century, the younger entrepreneurs can do in less than 10 years, says Sheikh Faisal bin Qassim Al Thani, Chairman of Al Faisal Holding Company, one of Qatar’s leading diversified business groups.
“The advent of mobile phone and internet has made things much easier now. What I achieved in 50-long years that can be done in less than 10 years. Few decades ago, there were very limited avenues of business in Qatar,” he said.
He added that the advancement in science and technology and a wide range of business opportunities have made things very easy. He was speaking at a Memorandum of Understanding (MoU) signing ceremony between Al Faisal Holding and Carnegie-Mellon University-Qatar (CMU-Q) for cooperation to cement the link between business and education.
The agreement was inked by Sheikh Faisal, and Dr Ilker Baybars, Dean of CMU-Q in the presence of Fadhel Annan, Assistant Dean of Government Initiatives and Corporate Affairs.
It will focus on utilisation of some of CMU-Q’s most important education programmes, research and strategic studies, namely Computer Science, Business Administration, Biological Sciences, Computational Biology and Information Systems.
The agreement also extends to programmes provided by Carnegie Mellon University’s selected Schools and Scientific Research Institutes in the US, giving Al Faisal access to the University’s 5,000 global faculty members.
“I am delighted that we have been able to reach this far-ranging agreement with an organisation as prestigious as CMU-Q,” added Faisal. “I have always believed that business and education go hand in hand.”
Dr Ilker highlighted the role of CMU-Q’s business strategy, and consequently to Qatar’s National Vision 2030, particularly with its mission to aid in the development of Qatar’s population to build a prosperous society.
To initiate the partnership, the University invited Sheikh Faisal, who is also the Chairman of Qatari Businessmen’s Association (QBA), to share his experience as a businessman through a lecture entitled “The Active Role of Family Entrepreneurship in Contributing to Qatar’s National Vision 2030.” Staged as part of the University’s Dean’s Leadership Series, Sheikh Faisal’s lecture, followed by questions from the students, underlined the strong connection between learning and business.
In a rare speech, the QBA Chairman, intending to motivate the University students present in the ceremony, shared many untold stories from his inspiring business journey of over 50 years.
He said that “clear vision, ambitious dream, honesty, patience and consistency” are more important and crucial than capital for a successful business.
He added that big companies were not built with big capital; they were created with big minds. So, one should not think and wait for tomorrow. “Let me tell you a secret about ‘City Centre’ project. The estimated cost of the project was over QR300m, and I didn’t have even QR5m in my accounts… my partners quit the project half-way, calling it a crazy idea. However, my firm confidence and credibility helped me to make it a reality,” said Faisal, one of Qatar’s most successful businessmen.
He noted that there will be “obstacles and hurdles” which he referred to as “speed humps”. He also advocated for hiring “honest and faithful” professionals, and extend needful support to them.
“I suffered losses in business but never accepted defeat and shut-down, because many people would have lost jobs. Taking care of the people’s wellbeing is equally important,” said Sheikh Faisal.
He also highlighted that one should not expect 100 percent success in businesses. Even 80 percent success is a fairly good.
The Peninsula
