Due to the launch of the Women’s Business Opportunity Initiative, an effort led by non-profit WEConnect International, women-owned businesses are ready to develop by becoming part of global supply chains. They will now have access to world-class training, networks, and information.
The Women’s Business Opportunity Initiative is designed to enhance the inclusiveness and competitiveness of supply chains globally and to help women entrepreneurs in Pakistan access opportunities to grow their businesses and thrive.
US Embassy Islamabad Charge d’ Affaires Angela P Aggeler said, “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.”
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Addressing a virtual event taking place during the Global Entrepreneurship Week, hosted by the US Embassy Islamabad and the US-Pakistan Women’s Council, she said the International Monetary Fund (IMF) estimated that closing the gender gap in the economy could boost Pakistan’s productivity and growth by 30%.
“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, she said,”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.”