Forbes Arabia forum sees high profile discussion on ways to maximise participation of Gulf youth in business sector

The event titled "Beyond Oil: Searching for Creative Ideas for New Investments in the Gulf Region", addressed investment realities in the Gulf region and highlighted the importance of innovation in helping Gulf youth to enter the business sector and launch successful investment projects.

H.E. Sheikha Lubna Al Qasimi, the UAE Minister of Economy, who inaugurated the event, said, "I appreciate the idea of organising such a forum that focuses on investment opportunities in the Gulf region, and more importantly discusses the role of the region's youth in contributing to overall growth of economies by launching entrepreneurial projects."

H.E. Sheikha Lubna also stressed on the need for using innovative ways to channelise energies of youth and encourage their participation in economic progress, which in turn would create new areas of investment. She said that the UAE had realised the necessity of raising awareness among the youth about the importance of investment projects, and accordingly adopted measures to provide advice and guidance to them in this area with an aim of encouraging them to take on entrepreneurial roles.

Highlighting the factors that have contributed to creating a favourable investment climate in the Gulf States, H.E. said,

"The overall political stability, the high quality of infrastructure, the market size and potential, and the fact that the Gulf States have a long history of cooperation with various countries in the world in the economic and investment fields, have created a mutually beneficial investment climate in the region."

H.E pointed out that the UAE had attracted 215 new investment projects in 2005, with the volume of foreign direct investments (FDI) in the UAE touching an estimated $12bn in 2005, making the country the largest recipient of FDI in West Asia.
H.E. Sheikha Lubna concluded her address by urging citizens of the UAE and the Gulf region as a whole to make the most of the opportunities that lay before them, and to strive for excellence through innovation and creativity in their approach, factors she said would be crucial to the diversification of local economies.

A debate session was another highlight of the evening, with a line-up that included Abdul Baset Al-Janahi, CEO of the Mohammed bin Rashid Establishment for Young Business Leaders; Dr. Ahmed Al-Samerai, Executive Board Member of Tanmiyat Group; Yazan Hatamleh, Chairman of Sanaya Middle East Human Investment; and Ahmed Al-Zubeidi, President and CEO of Hemaya Universal, a brand protection directory.

The debate and discussions - moderated by Refaat Jaafar, Managing Editor of Forbes Arabia - highlighted the successful achievements in founding and launching projects in the private sector and determined the most effective methods to help the Gulf youth face the challenges and difficulties in the realm of finance and business. The initiative also addressed the role of governmental policies in encouraging youth and creating a favorable environment to launch projects.

Fadi Ghandour, CEO and Founder of Aramex International made the closing address at the event, during which he focused on risk capital and its role, developments in the region's finance sector compared to the West; and the need for increased cooperation between the region's governments and the private sector, which will eventually boost job opportunities for the youth. He also pointed out that the vast pool of human resources in the Arab world was an advantage to the region, and stressed on the importance for youngsters to take necessary risks and launch entrepreneurial projects without thinking about failure.

This is the second such event being organised by Forbes Arabia. Last year the magazine hosted an event titled 'Challenges and Opportunities for Women in the Gulf Countries', that was attended by several women who made it to the list of the '50 most powerful businesswomen in the Arab World' ranked by Forbes Arabia last year.