Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- GCF-2014 to highlight private sector's contribution to GDP  Join our daily free Newsletter

MENAFN - Arab News - 11/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) This year's Global Competitiveness Forum (GCF-2014) will focus on the private sector's vital contribution in building both national and global economic growth

Saudi Arabia will be more open to foreign capital and investment to cope with the huge national project and mega infrastructures that need more involvement of national and foreign private sectors



This will be discussed thoroughly in the Building Competitive Partnership GCF-2014 to be held on Jan. 18-20 in Riyadh. The high-profile event, under the aegis of Custodian of the Two Holy Mosques King Abdullah is being organized yearly by Saudi Arabian General Investment Authority (SAGIA)

"In its 7th year, the GCF will focus on showcasing local and regional authorities and business leaders opposite world renowned global leaders to shed light on local, regional and global business trends and opportunities," said a statement from the organizer



At the domestic level, the importance of choosing the partnerships competitiveness will be highlighted. This follows the Kingdom's announcement of its largest budget for 2014, which reflects the strength and durability of the economy of the country. This will provide more opportunities and investment schemes available for the private sector and its institutions



A source from GCF organizer said the private sector had shown a strong performance recently. This was evident in its contribution to the GDP amounting to about 35 percent in 2012, and a growth rate of about 9 percent

As indicated by the official data in this regard, the source said, the percentage contribution of this sector in the volume of investment amounted to 53 percent or SR314 billion out of SR591 billion representing gross fixed capital formation, a higher percentage than the public sector. Foreign direct investment represented around SR45 billion



"This year's event will highlight a number of pressing developmental challenges faced by economies aspiring to shift to a system based on production efficiency and achieve sustainable development," it was stated

It is also aimed at transferring of technology and localization of jobs and experiences, and build a qualified national cadres. The importance of the establishment of national entities to invest in promising sectors as well as government legislation and its role in maximizing the use of the comparative advantages and other issues will also be in focus



The source added that the theme of the forum was decided in light of the developments and variables successively made by different national economies of the world that prompted it to adopt the concepts and strategies that go beyond the geographical boundaries of the states to enhance their competitiveness and be part of the world to exchange vulnerability and influence it in this area



The challenges facing most economies in the world today are identical and similar, and are concentrated mostly on the creation of a favorable climate and a catalyst for the growth of private sector investments and increase the opportunities to participate in the development of the national economy

Among global figures to address the three-day event include Dow Chemical Company President and CEO Andrew N. Liveris, Professor Dong-Sung Chao of Seoul National University and Boston Consulting Group Chairman Hans-Paul Burkner

 


Arab News




  MENA News Headlines
 Feb 28 2015 - Abu Dhabi's economy to remain strong in 2015MENAFN
(MENAFN) Abu Dhabi's economy will remain resilient and its fiscal policy will stay prudent and flexible over the next two years despite the depressed oil price scenario, Khaleej Times ...

 Feb 28 2015 - Sudan explores investment opportunities for Saudi investorsMENAFN
(MENAFN) A high-level Sudanese delegation headed by Investment Minister Mustafa arrived to explore investment opportunities for Saudi investors in Sudan, Arab News reported.Trade exchange between the ...

 Feb 28 2015 - Qatar's PPI down 10.6 percent in December 2014MENAFN
(MENAFN) The Qatari Ministry of Development Planning and Statistics (MDPS) said Producer Price Index (PPI) decreased 10.6 percent last December month-on-month, QNA reported.The index decreased 28.9 ...

 Feb 28 2015 - 'Jihadi John' killer from Islamic State beheading videos unmasked as LondonerThe Peninsula
(MENAFN - The Peninsula) The masked "Jihadi John" killer who fronted Islamic State beheading videos has been identified as Mohammed Emwazi, a British computer programming graduate from a well-to-do ...

 Feb 28 2015 - Banksy Goes Undercover To Make Gaza FilmThe Peninsula
(MENAFN - The Peninsula) Banksy has released a video of a satirical travel advert for Gaza after travelling to the area undercover.The film, posted on the elusive artist's website, appears to show ...

 Feb 28 2015 - World champion Cairoli tops Qatar qualifyingThe Peninsula
(MENAFN - The Peninsula) Defending champion Antonio Cairoli brought delight to his KTM camp last night by topping the time charts in the season's first official qualifying session of the 2015 FIM ...

 Feb 28 2015 - Cricket: UAE bat against India in World CupThe Peninsula
(MENAFN - The Peninsula) United Arab Emirates captain Mohammad Tauqir won the toss and decided to bat in the World Cup Pool B game against India at the WACA Ground on Saturday.In announcing his ...

 Feb 28 2015 - Turkey, US to begin training Syria rebels from SundayThe Peninsula
(MENAFN - The Peninsula) The United States and Turkey will begin training and equipping thousands of moderate Syrian rebel forces on Sunday as part of a deal the two NATO allies signed last week, an ...

 Feb 28 2015 - Italian MPs approve Palestinian resolutionThe Peninsula
(MENAFN - The Peninsula) Italian lawmakers yesterday backed a non-binding resolution that encourages the government to recognise Palestine as a state, a move that underlines European frustration over ...

 Feb 28 2015 - Lebanon-born Syrian refugees risk stateless issueThe Peninsula
(MENAFN - The Peninsula) Syrian refugee Yasmine Khalaf lies next to her day-old daughter Israa in a Lebanese hospital, worrying that her tiny newborn risks life without a legal identity. Israa, ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help