MTC seizes the moment at World Economic Forum

MTC is a key partner and sponsor of the forum that hopes to act as a platform to help leaders focus efforts to drive regional reform, economic rejuvenation and societal change. Dr Saad Al Barrak, MTC Deputy Chairman and Managing Director, will address the role of the private sector in advancing the reform agenda in the region on May 21. Development challenges cannot be met without an effective public-private partnership and it is imperative that the private sector in the Middle East plays a vital role in the future of the region through creating jobs and spurring economic development.

"Public-private partnerships offer an important new approach that has the potential to drive innovation, improve governance, raise living standards and provide opportunity to millions of people. They deserve continued support, engagement and evaluation from business leaders. At MTC, we are committed to supporting economic, political, and educational reform efforts in the Middle East," said Dr Saad Al Barrak, MTC Deputy Chairman and Managing Director.

The session will also include speakers like Mohamed Al Abbar, Chairman of Emaar Properties, Mustafa Hamarneh, Director of Strategic Studies, University of Jordan, Abdul M Al Jaber, Executive Chairman of the Palestine Telecommunications, Naguib Sawiris, Chairman and CEO of Orascom, Christopher Dickey, Paris Bureau Chief and Middle East Regional editor Newsweek Magazine.

"For reform to succeed whether it be in the economic, social or political sphere, public opinion must be fully engaged and fully consulted. That is why we chose to align ourselves with the World Economic Forum because of the impact it has on the social and economic structures of countries in region," Dr Barrak added.

To maintain a competitive edge in the global economy, Arab countries need to significantly raise their levels of competitiveness. In particular, they must improve macroeconomic management, institute reforms to enhance the efficiency of public sector institutions and facilitate the absorption of new technologies.

MTC is committed to bringing about real and sustained changes in the societies it operates in, as it becomes an international telecom player. It has just entered into a binding agreement to acquire 100 per cent of the issued capital of Celtel, the leading cellular operator in Sub-Saharan Africa, a transaction that has propelled MTC into the international arena and set the stage for the next phase of its growth. The MTC Group now serves over 9.5 million customers in the Middle East and Africa, and is targeting 20 million subscribers by 2011.

"There is growing acceptance in the region that only reform, and comprehensive economic reform, will drive the region's developmental agenda. At MTC, we want to be a catalyst of change and transform lives,'" said Dr Barrak.