Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

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

MENAFN - Arab News - 12/01/2014
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 percen 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
 Jul 24 2016 - IMF grants USD3.5bn credit line to MoroccoMENAFN
(MENAFN) The Intl' Monetary Fund (IMF) granted Morocco a two-year USD3.5bn credit line for structural reforms to boost economic growth.Moreover, the Precautionary Liquidity Line (PLL) is meant for ...

 Jul 24 2016 - NAT allocates rail work for Metro Line 3 in EgyptMENAFN
(MENAFN) The National Authority for Tunnels (NAT) assigned application of the rail work for Metro Line 3 to the ETF-ORC-TSO association.Additionally, the financial offer made by the ETF-ORC-TSO ...

 Jul 24 2016 - The number of High Definition channels is on the rise in the MENA regionMENAFN Press
(MENAFN Press) By May 2016, the satellites covering the Arab World carried 212 HD channels up from 195 HD channels by March 2015. A new report from Arab Advisors Group overviews the High ...

 Jul 24 2016 - Huge fire destroys warehouses in Sharjah's industrial areaKhaleej Times
(MENAFN - Khaleej Times) The firefighting operation took nearly three hours. At leastfive warehouses located in Sharjah's industrial area no 4 were destroyed in a major blaze on Monday. Warehouses ...

 Jul 24 2016 - Four people killed in shooting at Texas apartment complexEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) TEXAS, 24th July, 2016 (WAM) -- Four people were killed on Saturday night in a shooting at an apartment complex approximately 30 miles southeast of the ...

 Jul 24 2016 - UAE participates in celebrations for Sfax, Capital of Arab Culture 2016Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) TUNIS, 24th July, 2016 (WAM) -- The UAE has participated in the opening event celebrating the city of Sfax as the Capital of Arab Culture, 2016. Sfax is ...

 Jul 24 2016 - UAE non-oil sector growth up 4 percentMENAFN
(MENAFN) The Intl' Monetary Fund (IMF) forecasted the UAE's non-oil growth to increase more than 4 percent on improvement in economic sentiment and fiscal conditions.Meanwhile, economic activity is ...

 Jul 24 2016 - Qatar's GWC profit posts grow of 15 percentMENAFN
(MENAFN) GWC, Qatar's main logistics provider, posted a net profit of USD27.8mn for the first half of this year, up 15 percent, compared to USD24.06mn in 2015.Furthermore, the firm's assets continued ...

 Jul 24 2016 - Solar Impulse 2 takes off for Abu Dhabi in final leg of round-the-world journeyEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 24th July, 2016 (WAM) -- Solar Impulse 2 has taken off for the last time on its historic round-the-world trip using nothing but the power of the ...

 Jul 24 2016 - Saudi investments touch USD15.98bn in BritainMENAFN
(MENAFN) Britain contains huge investments from Saudi Arabia by almost USD15.98bn, which are in various investment fields.Accordingly, Britain is a historical friend of the states of the region and ...

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