Fifteen most influential personalities and policy makers in the economic field are expected to address the delegates at the Private Sector ME Conference (PSMEC) scheduled to begin Tuesday.

Four key organizations have joined under one umbrella to organize this global economic event, which is considered the first of its kind in the Middle East. They include, the Council of Saudi Chambers (CSC), IMF, IFC, and the Ministry of Finance.

IMF reports that around 60 percent of the global businesses are owned by organizations from the Middle East.

CSC Chairman Abdullah Al-Mobty told Arab News that the speakers will enlighten the audience on the mechanisms of enhancing cooperation between the public and private sectors and ensure more involvement by the latter in the economic growth process in the Middle East region.

The event will include speeches by approximately 15 leading figures, including Finance Minister Ibrahim Al-Assaf, Deputy Managing Director of IMF Min Zhu, Deputy Finance Minister Hamad Al-Bazai, Secretary General of the Supreme Economic Council Majed Al-Muneef, former Minister of Economy and Industry in Lebanon Nasser Saidi, Saudi Arabian General Investment Authority (SAGIA) Gov. and CEO Abdullatif Al-Otham, Al-Mobty, Abdulrahman Al-Zamil, deputy director of IMF's Middle East and Central Asia Department Alfred Kammer, Deputy Managing Director of IMF's Middle East and Central Asia Dept. Tim Callen, adviser to IMF's Middle East and Central Asian Department Raja Almarzoqi, CEO of Alinma Bank Abdulmohsen Al-Fares and Fatin Bundagji, board member of Jeddah Chamber of Commerce and Industry.

The conference plans to address five key subjects that represent the main challenges facing Middle East economies through five workshops.

The first workshop will focus on the points of strength and weakness in the private sector in the Middle East, while the second workshop will shed light on global experiences in developing the private sector using the examples of Singapore, Philippines, South Korea, Chile, Mexico and Brazil in supporting SMEs.

The third workshop will discuss the role of financial and macroeconomic policies in developing the private sector and the fourth workshop will focus on inclusive growth within the private sector, whereas the fifth workshop will deal with mechanisms to strengthen the private sector's role in the Middle East and shed light on the investment opportunities available in the region.

This event, which is co-organized by the CSC, IMF and IFC with full support of the Ministry of Finance comes in light of IMF's predictions for economic revival in the Middle East region for the year 2014, following the improvement in the global economic climate and oil productivity.

The IMF has stressed the importance of focusing the region's policies on enhancing the general financial status and implementing all the required structural reforms to support the private sector growth process and subsequently achieve variation in economic rewards and more job creation.

Al-Mobty said more than 250 foreign delegates had already signified their willingness to participate in the conference.

The sponsors have launched a website in both Arabic and English to gain an idea of the event.

The website includes detailed information on the event, including the conference agenda, program, speakers and sponsors, as well as news coverage of the conference, which will incorporate social media such as Twitter, Facebook, Instagram and YouTube, where activities of the event will be broadcast live.

Being a high-profile event, the official said, the conference website has been affiliated with the respective websites of the committee of international trade (CIT) at the CSC in Saudi Arabia, SUSRIS in the United States, and SBRIS in the UK, as well as the Saudi-US Trade Group's website (SUSTG), which will all collectively ensure wider coverage of the event.

The website also includes registration links for anyone interested in participating in the event from within and outside the Kingdom, in addition to visa and hotel services with competitive prices.

English will be the default language of the event — seeing its global nature — with there being instant translation services to be provided throughout as ensured by the organizing committee.