Posted on April 14, 2017

The 34th International Finals for the Global Management Challenge (GMC) competition has recently concluded in Doha, which was hosted by the Qatar Finance and Business Academy (QFBA), in cooperation with ADNAR Group, in the period from 10 to 12 April 2017.

The final results of the GMC competition showed the National Team of Macau taking the lead, which scored the highest level of investment performance during the International Finals, culminating in its crowning as the “GMC winner of the year”. The awards and gala dinner ceremony was held under the patronage of the Deputy Governor of Qatar's Central Bank, HE Sheikh Fahad Faisal Al Thani, who handed over the awards to Macau team who came in the first place, the Russian team on the second place, and the People's Republic of China team on the third place.

The GMC competition was founded in Portugal in 1980, and today has become the biggest strategy and management competition worldwide, which is embraced by more than 30 countries. The competition arrived to Qatar in 2013. The GMC International Finals for the year 2016 witnessed strong competition between teams from various countries including Angola, Brazil, Cape Verde, Czech Republic, Estonia, France, Greece, Hong Kong, India, Kenya, Kuwait, Macau, Mexico, Morocco, the People's Republic of China, Poland, Portugal, Qatar, Russia, Senegal, Slovak Republic, Spain, and the United Arab Emirates.

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The Finals have taken place under conditions that mimic the reality of the global economic mobility, giving participants a vision and a profound understanding of the changes in the real market, as well as a direct experience in the process of creating a corporate strategy, contingency planning and a range of financial, operational and administrative decisions. The national GMC competitions continued in their final day in a thrilling atmosphere, with each national team making every effort to record the highest score of investment performance, following which a smart and sophisticated simulator analyzed the decisions of each team and determined the financial and operational results achieved by the virtual companies.

On this occasion, Ms. Randa Haidar, Chairperson of ADNAR Group (the regional organizer), said: “Our collaboration with QFBA has been a landmark achievement, as we have successfully concluded the International Finals of the prestigious Global Management Challenge in Doha, which is the first time this competition has been organized in one of the countries in the GCC, the Arab World and the MENA region. We have exceptionally succeeded at raising the bar for the standards of development and support of professional talents in Qatar and the region by presenting prevalent trade and economic challenges before the participating teams, who have positively interacted with them and performed at the required level.”

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On his part, Dr. Abdul Aziz Al Horr, CEO of QFBA (organizing partner), said: “We are very pleased with the results we have achieved - in cooperation with the Adnar Group - over the two days of the GMC International Finals, for the winning teams from participating countries. Our success was unique in embracing the brightest future commercial and economic minds through this global event, which is organized for the first time in Qatar and the entire Arab region, reinforcing Qatar's role as a strong regional supporter of skills and talent development, launching initiatives and events that build human capital in line with Qatar National Vision 2030 and in harmony with the vision, message, and core values of QFBA. I warmly congratulate the Macau team, the ‘GMC winner of the year’ and I wish all participants further progress and success.” I would also like to extend my sincerest thanks to HE Mr. Ali Shareef Al Emadi, Minister of Finance, for his welcomed presence and sponsorship of the opening ceremony, and to Sheikh Fahad Bin Faisal Al Thani, Deputy Governor of Qatar Central Bank, for his attendance and sponsorship of the awards and gala dinner ceremony, and for distributing the awards to the winning teams.”