Al Gergawi announces 'Arab Business Challenge' initiative to launch projects that will help in achieving continued development in the Arab world

The Young Arab Leaders organization, in cooperation with several regional and international companies and other strategic partners, will be reviewing and evaluating economic case studies and project plans proposed by young Arabs, from which a plan will be chosen and supported and developed into tangible projects by the end of 2006. This comes as part of YAL's strategic endeavors to boost the economy in the Arab region.

Al Arabiya Satellite Channel will be one of the most important strategic partners of the initiative and will broadcast a televised program on the initiative in all parts of the Arab world.

Al Gergawi, also heads the YAL organization's delegation of more than 20 Arab leaders who have achieved distinguished success in different business sectors to the conference. He assured in his speech that Young Arab Leaders programmes are aimed to promote a stronger and more balanced business sector, and to help young entrepreneurs improve their projects' performance.

"Since its launch, YAL has been working on consolidating the efforts of Arab youth and emphasizing their role in steering Arab countries towards a new and higher level of prosperity and development. The initiative's chosen title, 'Arab Business Challenge', is therefore in line with the organization's strategy to develop the Arab region at large by preparing a regional plan of action, in which a range of the region's eminent businessmen and prominent companies will participate, to implement this plan by 2006."

"The Arab region is facing great challenges that are a result of global impact in various fields such as economy and employment. There is no doubt that delaying taking necessary action to strengthen development will cost the region many of its valuable privileges and resources."

"The Arab World has a high rate in context to the earth's total unemployed young people. Combine that with the highest population growth rates in the world; we grow at 4%. The World Bank estimates that our region will need an average economic annual growth rate of 6.5% to cope with the increase in population. We will need to create 100 million new jobs by 2020 just to cope with current population demands."

"The seeds of change for the Arab world were laid in New York in January 2003 when a group of 30 or so Young Arab Leaders met to discuss the future; I was at that meeting in 2002. From that meeting came a conviction and a glimmer of an idea; if we wanted to change things, standing still was not be an option. We needed a joint effort from Arab youth focused on 'action' to link the Arab region back to the global community. A new mindset through new networks was needed. This is how the Young Arab Leaders was born,"

"Today we are an alliance of 250 full-time members dedicated to encourage and support corporate business education in the Arab world through creating initiatives for the private sector and for supporting young talent. The members of the organization constantly work on acknowledging talent among young Arabs in the business field and financially support them and enable them in turn to support other talented youth."said Al Gergawi while unveiling the initiative.

The Clinton Initiative is not only unique because of its global attendance comprising heads of states, prime ministers and prominent economic and political figures, but it is unique due to the vital issues and global concerns that will be discussed and potential solutions that will be explored, in an effort to tackle challenges and threats that hinder the process of global development and advancement.

Clinton Global Initiative will be attended by leading international personalities including: His Majesty King Abdullah II bin Al Hussein, Monarch of the Hashemite Kingdom of Jordan and his spouse Her Majesty Queen Rania Al-Abdullah Queen Rania; Britain's Prime Minister Tony Blair; Turkey's Prime Minister Recep Tayyip Erdoðan; Nigeria's President Olusegun Obasanjo; UN Secretary General Kofi Annan; USA's Minister for Foreign Affairs Condoliza Rice; the Indian National Congress Party Chairperson, Sonia Gandhi; Robert Murdoch, the Australian international media tycoon; and the founder and owner of Turner Broadcasting Corporation, Ted Turner.

Young Arab Leader's participation in the Clinton Initiative stems from its dedication towards maintaining an active presence on the global front, and contributing to important international events and conferences which provide an opportunity to interact and share views with heads of states, professionals, leaders and academic figures from diverse fields.