Oliver Cornock, OBG's regional editor, to chair two panel sessions at UAE Global Investment Forum

The Forum is to be held on 3-4 March at the Emirates Palace Hotel in Abu Dhabi under the patronage of the Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces, His Highness Sheikh Mohammed Bin Zayed Al Nahyan.

The Forum, which will bring together over 300 international, regional and domestic investors with industry leaders, financial intermediaries and high-profile government officials, will showcase the investment opportunities now available in the UAE, as well as provide a platform for the leaders of the UAE's businesses to meet and discuss how best to use the capital markets for their investment and financing needs.

The key speakers of the Forum are H.E Nasser Ahmed Alsowaidi Chairman of Department of Planning and Economy-Abu Dhabi, Abubaker Seddiq Al Khouri, CFA Managing Director of Sorouh Real Estate, Eirvin Knox Chief Executive Officer of Abu Dhabi Commercial Bank, Rt. Hon. Mike Moore Former Director General of World Trade Organization and Former Prime Minister of New Zealand, and Dr. Nasser H. Saidi Chief Economist of Dubai International Financial Centre Authority.

The first panel to be chaired by Cornock, on 3rd of March, 'The UAE in 2008: A New Economic Outlook' will examine how economic diversification in the second largest economy in the Arab region is enabling investors to capitalize on many new and exciting opportunities.

Cornock said:

"It's a great privilege to chair this panel session as it is set to touch on some the most pertinent issues facing Abu Dhabi and the UAE. Having experienced enormous growth in recent years, just how this success can be continued and consolidated is key to the future. No country is immune from global economic trends and there are indications of slow-down. It is this context that makes this discussion so important and the fact that we have some of the major strategists involved in planning for Abu Dhabi's future development. Undeniably, with success and prosperity come challenges. One of the most pressing is inflation, which whilst inevitable, needs careful management - its impact has the potential to damage all that makes doing business in the UAE attractive to foreigners".

"Steady economic and fiscal reform has ensured that Abu Dhabi has an increasingly robust and transparent business environment. There is still some way to go, but FDI levels indicate that Abu Dhabi is an increasingly attractive investment destination. This and the pro-business and pro-private sector government are all contributing to Abu Dhabi's strong position going forward. Of course, on the domestic front, inflation and the diversification of revenue streams are the key challenges, whilst externally it is the global economic situation and regional security."

The second panel Oliver Cornock is to chair 'Tourism: Driving Future Economic Growth,' to be held on 4th of March, will focus on the increasingly important role played by tourism as a key driver of economic growth.

Cornock said: "Increasingly GCC governments are looking to use the current high levels of liquidity and their increasingly attractive business environments to press forward with reducing their reliance on hydrocarbons. Tourism is a key component of this with clear benefits in terms of trickle-down - particularly in the form of job creation for nationals. This is essential for both long-term prosperity and stability."

"Tourism, culture and the arts can be extremely effective channels to breaking down some of the misconceptions and stereotypes that all too often damage the image of the Arabs and the Middle East. They all add a new dimension to the purely economic story and are vital."