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(MENAFN - Arab News) JEDDAH, 25 February 2007 — The Jeddah Economic Forum 2007 kicked off with Prince Faisal ibn Abdul Majeed formally opening the fifth annual event on behalf of Makkah Gov. Prince Abdul Majeed at the Hilton Hotel last night.
"The JEF, with economic reform as its central theme, is a platform for Saudi investment opportunities," he said.
The forum, with its three-day sessions commencing today, is being attended by more than 2,500 delegates from over 52 countries.
"The essence of the forum is to showcase cultural, scientific and intellectual discussions in an overview for complete economic reform," Prince Faisal said. "The forum is much more than an economic phenomena, as it exemplifies a number of social concerns featuring case studies of successes that will help in the development and enhancement of the community from an economic and social perspective," he added.
"If you are looking for insights to economic reform taking place around the world you have come to the right place, and if you want to meet and network with the leaders and decision-makers who make it all happen you have come to the right place," JEF 2007 Chairman Sami Bahrawi said in his address.
"Over the next three days, you will partake in key dynamic sessions and meetings that are sure to expand and challenge all of us to think and act in new ways. Your words, ideas, comments and some of your criticisms will be noted, studied and reported to a waiting world."
Saleh Al-Turki, chairman of the Jeddah Chamber of Commerce and Industry, reiterated the importance of economic reform as it represented the driving force behind opening the economy to international markets and its vast contributions to national social and economic developments.
The forum gave special recognition to Minister of Commerce and Industry Hashim Yamani, Jeddah Mayor Adel Faqeeh, Xenel Group Executive Director Khaled Zainal, Prince Sultan bin Abdulaziz Foundation Director General Majed Al-Qassabi, JEF 2006 Chairman Amr Enany, and Bedriya Al-Saeed, winner of the 2007 JEF Collegiate Business Venture Award.
Today's session will highlight key speakers including Jordan's Queen Rania, Prince Turki Al-Faisal, Turkish Prime Minister Recep Tayyip Erdogan, Former Supreme Allied Commander of NATO Gen. Wesley Clark and Baroness Symons of Vernham Dean, UK chair of Saudi-British Business Council.
Emaar/King Abdullah Economic City is the partner sponsor of the forum for the second consecutive year. The forum's lead sponsors this year include CNBC Arabiya, National Commercial Bank, Xenel Group, E.A. Juffali & Bros, Bin Laden, SABIC and Al Hadaf Advertising. Diamond sponsors are Saudi Arabian Airlines, Saudi Research and Marketing Group and Budget Rent a Car. Gold sponsors include Al-Madina Printing Press, Nesma and Medunet.
Described as the "Think tank of the Middle East," the forum is held with the support of the Makkah governor and is organized by Jeddah Marketing Board, a department of JCCI.
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