JEDDAH, 15 January — Makkah Governor Prince Abdul Majeed will open the Jeddah Economic Forum, billed as one of the most prestigious events in the city's business calendar, here next week.
The inauguration is slated for Jan. 20 with the three-day event featuring in-depth discussions led by some key economic figures in the world. "Wealth creation in a knowledge-based economy" is this year's theme, said to be particularly significant for Saudi Arabia as it opens up its economy to outside investment.
"The challenges facing companies in today's technology-based societies mean the Kingdom must put an ever-increasing stress on information to achieve and maintain competitiveness. The Internet and the future impact of e-commerce mean that knowledge will be key to increasing the distribution of wealth," said Amr A. Dabbagh, chairman of the Jeddah Marketing Board, which is organizing the event with the Massachusetts Institute of Technology (MIT) Sloan School of Management.
The forum will also present a general overview of how the world's economy will develop and what effect this may have on the region's local markets. The eminent team of speakers include former presidents and heads of international and Gulf business conglomerates.
Several hundred leading businessmen from the Kingdom and rest of the region are expected to attend the forum, Dabbagh said, adding: "Last year's highly successful event was extremely well-attended, but we expect an even bigger audience this year."
Now in its third year, the JEF was set up to highlight the vital contribution the city has given to the region as a center of finance and trade.
"It has provided the Gulf region with a challenging and lively opportunity to debate some of the most important business issues affecting the world and the Middle East today," he said, adding: "As in previous years, it will open doors to greater levels of cooperation and create new business opportunities for foreign investors, global entrepreneurs and local businessmen."
