AMMAN: The World Economic Forum (WEF) opens a conference on the Middle East at the eastern shore of the Dead Sea today, with the participation of about 1,300 political, business and civil community leaders from 80 countries.
The three-day conference, to be opened by King Abdallah of Jordan, will be held under the title: “Implications of the Global Economic Crisis for the Middle East: Home-Grown Strategies for Success.”
“The Middle East’s aspirations for prosperity will be challenged as it attempts to restore its own growth while navigating a complex geopolitical landscape,” organizers said.
Participants will try to appraise the impact of the global financial crisis and the deepening recession on this part of the world, given the large-scale erosion of the region’s assets value due to the highly volatile energy markets.
Analysts have estimated the losses incurred by Arab sovereign funds and stock markets, especially those in the Gulf at more than $1 trillion as a result of global economic downturn.
Esam Janahi, chairman of Gulf Finance House (GFH) and a member of Young Global Leaders, will co-chair the three-day forum. He will underline the challenges posed by the global financial crisis and draw on his experience in identifying the circumstances that led to the downturn and the essential decisions that must be taken to achieve economic recovery.
Janahi will lead a session on ‘Unconventional capitalism’ that will examine the influence entrepreneurs throughout the Arab world can have in future economic prosperity across the region.