JEF theme evokes positive reactions from economists

Updated 03 March 2016

JEF theme evokes positive reactions from economists

JEDDAH: Jeddah Economic Forum (JEF), which was inaugurated by Makkah Gov. Prince Khaled Al-Faisal on Tuesday night, has evoked positive reactions from economists, experts and participants.
In particular, there was an all-round appreciation of the forum theme — Public private partnerships: Collaboration for impact — as they consider PPP as the most pragmatic model for the Kingdom’s further economic development.
This was stressed and substantiated by Saleh Kamel, chairman of Jeddah Chamber of Commerce and Industry (JCCI).
“We are celebrating 15 years of JEF this year. This forum is focusing on how we can bring the public and private sectors together for economic development,” he added.
The three-day forum, which entered its second day on Wednesday, is being held at the Jeddah Hilton.
Pointing out that Turkey and Malaysia are prominently present at the forum, Kamel said: “Their participation is good for us as we can know their success stories and also learn from their experience.”
Amr M. Khashoggi, vice president HR & Group Affairs, Zahid Group, said “The forum is very exciting. We are at a crossroads looking to make economic transformation initiated by Deputy Crown Prince Mohammed bin Salman.
Basil Al-Ghalayini, CEO of BMG Financial Group, described JEF as the "Davos of Saudi Arabia". He said it is a great opportunity to have global leaders at one place to interact with local businessmen and discuss the current critical issue of diversification due to falling oil prices.
Anees Moumina, the CEO of SEDCO Holding Group, said JEF is an innovative forum being held at the right time. What needed right now is the public and private sectors to go forward.
M. Mustafa Goksu, senior adviser, Prime Ministry Investment Support and Promotion Agency of Turkey, said this forum is very important for Turkey. “That’s why we have Deputy Prime Minister of Turkey Mehmet Simsek, and Transport, Maritime and Communication Minister Binali Yildirim attending this forum. We have good relations with Saudi Arabia so we want to cash in on expanding our business.”
Riyad Ahmed Al-Thagafi, CEO of Ewaan, said: “We need such forums right now. The forum is focusing on PPP. We will succeed in the PPP model. The public and private sectors should take this opportunity to build a network and bridge the gap between them.
“It’s a good gathering,” Nasser Alshawaf, CEO of Rassmal, said.
Iya Tidjani, ambassador extraordinary and plenipotentiary, who is attending JEF for the fourth time, said: “This is a very interesting initiative. This is the place we exchange knowledge and experience, and discuss how to establish partnerships. JEF is one of the best forums in the region. Personally, I learned many things by participating in these forums.
He added: “I hope the Chamber of Commerce of Cameroon will establish relations with JCCI.
Didlier Fouilly, general delegate-Saudi Arabia of DCNS, said the forum is very interesting because the theme is also very important to bring together the public and private sectors to do business.
Alper Apaydin of akarone said I believe JEC is a very important meeting point for countries like Turkey and other key players in the GCC. PPP is also crucially important for the Kingdom’s future development as it can get important modeling examples from Turkey for the PPP model.
Notably, Deputy Prime Minister of Turkey Mehmet Simsek remarked on the opening day that after the global crisis, the world economy is now growing at a modest pace. Only Saudi Arabia and Turkey managed to deliver their commitments to G-20.
Commerce and Industry Minister Tawfiq Al-Rabiah is actively participating in the forum.


Singapore Airlines drops ‘flights to nowhere’ after outcry

Updated 29 September 2020

Singapore Airlines drops ‘flights to nowhere’ after outcry

  • Several carriers have been offering short flights that start and end at the same airport to raise cash

SINGAPORE: Singapore Airlines said Tuesday it had scrapped plans for “flights to nowhere” aimed at boosting its coronavirus-hit finances after an outcry over the environmental impact.
With the aviation industry in deep crisis, several carriers – including in Australia, Japan and Taiwan – have been offering short flights that start and end at the same airport to raise cash.
They are designed for travel-starved people keen to fly at a time of virus-related restrictions, and have proved surprisingly popular.
But Singapore’s flag carrier – which has grounded nearly all its planes and cut thousands of jobs – said it had ditched the idea following a review.
The carrier has come up with alternative ideas to raise revenue, including offering customers tours of aircraft and offering them the chance to dine inside an Airbus A380, the world’s biggest commercial airliner.
Environmental activists had voiced opposition to Singapore Airlines launching “flights to nowhere,” with group SG Climate Rally saying they would encourage “carbon-intensive travel for no good reason.”
“We believe air travel has always caused environmental harm, and it is now an opportune moment for us to think seriously about transitions instead of yearning to return to a destructive status quo.”
The airline said earlier this month it was cutting about 4,300 jobs, or 20 percent of its workforce, the latest carrier to make massive layoffs.
The International Air Transport Association estimates that airlines operating in the Asia-Pacific region stand to lose a combined $27.8 billion this year.
The group also forecasts that global air traffic is unlikely to return to pre-coronavirus levels until at least 2024.