Public and private sectors must work together to ensure economic prosperity in Middle East

Al Muntafiq, Co-Chair of the meeting's 'Industries of the Future' session, said there needs to be multi lateral collaboration between both key parties stimulated by dialogue, to highlight and develop human capital in order to exploit the best economic growth opportunities. "The private sector needs to be made more conscious of its key role in bringing prosperity and growth to markets," he said.

One of seven Co-Chairs of the Forum, Al Muntafiq will play a leading role at the event. The contributions of the Co-Chairs are essential for the overall success of the meeting. They are selected based on an exceptional record of success in their industry and bring both stature and authority to the meeting in support of its goals and objectives.

Speaking to business leaders and key policy-makers, brought together to examine critical issues facing the new industries that are reshaping the future of the region's economies, Al Muntafiq said the focus of economic development in the Middle East should be placed on innovation and diversification, coupled with real economic reform of the Arab markets.

"We need to focus on existing private and public success stories and apply them to the uniqueness of each Arab market, in order to drive economic reform and development of the Arab World."

According to Al Muntafiq, one of these potential growth markets is healthcare. "Viable healthcare systems, that match global standards, can not only benefit the local communities, within which they are based, but they can also stimulate job creation and actively trigger gains in the healthcare tourism sector and in locally based R&D."

Turning to education, Al Muntafiq said: "The Arab world must learn from, and go forward with, its own success stories in the area of excellence in private and public sector partnerships in the field of education.

The World Economic Forum Middle East 2007 is scheduled to conclude on Sunday May 20. Held under the theme 'Putting Diversity to Work', the Forum aims at spotlighting efforts to accelerate economic diversification in a time of prosperity for the Middle East, while emphasising the urgency of promoting peace and understanding in a region of great religious and ethnic diversity.