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
 May 3 2015 - Pleasant weather forecast over next three daysJordan News Agency
(MENAFN - Jordan News Agency) The weather on Sunday is expected to be pleasant in the hilly areas and moderate in other parts of the Kingdom with northwesterly moderate winds.According to the Jordan ...

 May 3 2015 - Israeli forces destroy hundreds of acres in NablusJordan News Agency
(MENAFN - Jordan News Agency) Israeli forces destroyed hundreds of acres of cultivated lands on Sunday in the Khirbet Al-Tawil area east of Nablus in the West Bank.Member of the Popular Committee ...

 May 3 2015 - WHO pushes the health diplomacy agenda forward in a fourth high level seminar in CairoJordan News Agency
(MENAFN - Jordan News Agency) The World Health Organization Regional Office for the Eastern Mediterranean Saturday started the fourth seminar on health diplomacy in Cairo, Egypt.The seminar is ...

 May 3 2015 - Israeli occupation forces hold military maneuvers in West BankJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces on Sunday started large military training and maneuvers in the northern West Bank.Israeli Radio said that these maneuvers which will last until ...

 May 3 2015 - 650 trucks with goods, construction materials enter GazaJordan News Agency
(MENAFN - Jordan News Agency) Some 650 trucks loaded with commercial goods and construction materials entered the Gaza Strip on Sunday as the Israeli occupation authorities reopened the Karam Abu ...

 May 3 2015 - Muscat Municipality delegation concludes visitJordan News Agency
(MENAFN - Jordan News Agency) A delegation from Muscat Municipality concluded a visit to the Amman Greater Municipality (GAM), during which representatives discussed how they might cooperate and ...

 May 3 2015 - Officials call on Jordanian and Kazakh private sectors to increase cooperationJordan News Agency
(MENAFN - Jordan News Agency) Jordanian and Kazakh officials have called upon the private sectors in both countries to take advantage of investment opportunities, especially after political ...

 May 3 2015 - Results of poll of Ensour's government to be announced tomorrowJordan News Agency
(MENAFN - Jordan News Agency) The University of Jordan's Center for Strategic Studies will hold a press conference on Monday to announce the results of a poll regarding Prime Minister Abdullah ...

 May 3 2015 - Jordan adopts special strategy to counter terrorism, says interior ministerJordan News Agency
(MENAFN - Jordan News Agency) Interior Minister Hussein Majali said Jordan is making every effort to counter terrorism and extremism through developing a strategy involving civil society ...

 May 3 2015 - Iraq voices concern over US Congress billJordan News Agency
(MENAFN - Jordan News Agency) Iraqi Prime Minister Haider Al-Abadi received a telephone call from United States Vice President Joe Biden, in which al-Abadi discussed his concerns over a bill before ...

more...


 






Google

Click to Apply

 
 

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