Jeddah Economic Forum 2012 Opens

March 3, 2012

Jeddah Economic Forum

The annual Jeddah Economic Forum, which opened its four day program on Saturday evening, will tackle the theme “Beyond Borders: Building Tomorrow’s Economies Today” this year with a host of presentations from political and business leaders and other economic experts from Saudi Arabia and abroad. The JEF, a highly regarded conference on the annual global economic event calendar was expected to attract over 3000 participants.

The long running forum examines the key issues, both short and long-term, which most effect the ability of the Middle East in general and the Kingdom of Saudi Arabia in particular to enjoy sustained economic growth generating new work opportunities and a stable business environment.

SUSRIS and SUSRISblog will provide JEF highlights over the next three days, which will address:

Beyond Borders – Building Tomorrow’s Economies Today
In an age of recurring global economic crisis, a constant has remained – the need for greater connectivity to achieve sustainable economic growth. Every stratum of an economy today must look beyond its own borders to see how it will achieve future economic prosperity.

Day 1 – Beyond Borders – Sunday, March 4, 2012

This greater connectivity has been both actual and digital, connecting cities with cities, countries with countries and regions with other regions. With greater economic interdependence, people and businesses should be able to do business easier and economies attract greater investment and create more value. With these rewards, risks also emerge in the absence of the right legal and regulatory frameworks – resulting in the ‘contagion’ in the global economy we see today.

A. Beyond BRICs: Seeking Economic Growth in an Era of Debt
B. Building Blocs: A global re-focus on models of regional co-operation
C. GCC Consolidation: Analysing the economics of greater GCC integration

Summary: The world today is focused on debt and austerity versus greater equity and economic growth, which is either enhanced by greater regional co-operation or damaged through contagion. The impact of these can be felt in the region and kingdom when determining where and with whom they can seek greater economic growth, both within the region and outside it.

Day 2: Regional Priorities – Monday, March 5, 2012

Saudi Arabia and the Gulf lies at the heart of the Middle East, strategically placed between North Africa and South Asia, which in 2011 dominated global media headlines as the region was swept by political turmoil. The wind of change swept across borders, leaving no country in the region unaffected, be they neighbours near or afar. One imperative did become clear in that the need to build the economies of tomorrow- the economies of today’s youth and the generations to come – requires an immediate focus on three priorities – the 3E’s of education, employment and entrepreneurship.

A. Transforming Education: Enabling the next generation
B. Transforming Employment: The Job Creation Imperative
C. Transforming Entrepreneurship: Accelerating Regional Entrepreneurship

Summary: The immediate short and long-term economic priorities of the Middle East, North Africa and the Kingdom of Saudi Arabia lie in the 3Es – transforming education, employment and entrepreneurship. This will not only lead to greater economic prosperity in the region, but will allow the emerging markets of the region to mature and become competitive globally.

Day 3: Arabian Future – Tuesday, March 6, 2012

Saudi Arabia’s vision is to build the economy and society of tomorrow, bringing prosperity and stability for generations to come. Three opportunities for advancing this vision are achieving global eminence among the Kingdom’s brands, enhancing philanthropy in a variety of ways, and empowering youth to utilise social networking to positively impact society.

A. Brand Arabia: Globalising Regional Value Creation
Arabian Philanthropy: Enhancing the art of ‘giving back’ to society
Arabian Generation: Harnessing the positive impact of social networking by youth

Summary: Saudi Arabia’s economic and social future is being created today. One key aspect to build the economy is to promote Saudi Arabian businesses which through value creation and great customer service can reach the hearts and minds of consumers in the region and globally – the brands of Arabia. One key aspect to improve the social fabric of the Kingdom is through traditional philanthropy, which Saudi Arabia excels at, but also new emerging models of ‘giving back’ such as donating time and expertise. The future of both the economy and society of Saudi Arabia are its youth, whose talents can yield greater economic prosperity and promote social stability.

Source: Jeddah Economic Forum

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