Soren Dawody is the co-founder of Akros & Partners, a real estate company in which he is the managing director, responsible for providing strategic leadership to ensure that foreign investment is made efficiently. Dawody is an environmentally-responsible entrepreneur, driven by his passion for developing viable economies such as Grenada’s economy.
His desire to help developing countries in a sustainable way has encouraged him to launch Grenada Sustainable Aquaculture Initiative, a unique project developed in close collaboration with the government of Grenada. His project is a major example of corporate responsibility that aspiring entrepreneurs can learn from.
Amid the crisis caused by the COVID-19 pandemic, small island nations across the Caribbean like Grenada experienced heavy economic shock. As the area was relying on tourism for most part of its GDP, with travel bans around the world, the country’s’ economy took a pretty hard hit as tourists could no longer travel here. Besides that, the IMF support the country has received is not enough to sustain the country’s economy during these uncertain times. Thus, with huge financial support needed, it was up to independent investors such as Soren Dawody to take action in supporting the local economy.
Here are the lessons aspiring entrepreneurs from Dubai or around the world can learn from Soren Dawody in terms of practicing corporate responsibility.
Foreign investment can be done with respect towards the local area and people
One of the most important lesson that aspiring entrepreneurs can learn from Soren Dawody is that foreign investments need to be done with respect in mind for the area and the people living there.
When investors want to expand their investments in other countries, they may tend to not take into consideration the impact their business can have on the environment or people who live there. Dubai businessman Soren Dawody hopes to inspire novice and experienced entrepreneurs to think differently and pay more attention to how their business contributes to the local economy and overall wellbeing of the locals.
Thus, Dawody’s project in Grenada is an example that proves how to practice corporate responsibility with foreign investments. More precisely, Soren Dawody’s project focuses on helping the local economy and employment, more than it does on making profit. for this reason, Dawody’s GSA project aims to be an environmentally-responsible initiative that can help the country diversify its economy.
The GSA initiative focuses on commercial shrimp farming, which used to be an underexplored area of aquaculture before Dawody’s idea, with a focus on creating jobs for the locals and helping the local economy to bounce back in hard times such as these uncertain times caused by the pandemic.
The best part about the Grenada Sustainable Aquaculture Initiative is the fact that it is truly sustainable. It brings many benefits to the local economy and the society there, without doing it at an environmental cost.
Citizenship by investment programs, an innovative way of doing business
The other essential lesson aspiring entrepreneurs can learn from Soren Dawody’s way of doing business is how to efficiently attract other investors to the area they are investing in as well. Unlike other entrepreneurs, Soren Dawody thinks of the general good of the area he invests in so he doesn’t mind sharing the market with other interested investors. For Dawody, shared business is actually an important value that can benefit everyone involved.
For this reason, Dawody works closely with the government in Grenada to attract foreign investors that can contribute to reshaping the economy and society there. His brilliant idea of citizenship investment programs focuses on attracting other investors in expanding their investment and market presence in exchange for citizenship in the country. As Soren Dawody calls these types of investment programs, they are a win-win situation.
It’s really easy to understand how Dawody’s innovative business idea works and why it benefits everyone. Foreign investors who invest in Grenada basically receive citizenship in return for their investment. Not only investors, but primarily the people living in Grenada benefit from this situation as the local economy gets the financial support to develop and create new job opportunities and better life conditions for the locals.
Unsurprisingly, the citizenship by investment way of doing business has caused interest in the Middle East from wealthy investors around the world to grow significantly. As Soren Dawody understood that foreign investment is the best way to encourage economic and sustainable growth in an area, he has made it all possible with his innovative ideas.