JEDDAH, 31 August — The sixth Saudi businessmen’s conference, scheduled to be opened by Crown Prince Abdullah, deputy premier and commander of the National Guard, in Taif on Sept. 29, will focus on globalization and its effect on the national economy.
The two-day conference, to be attended by more than 800 businessmen, government officials and economic experts, will discuss new strategies to attract foreign investment in the light of regional and international competition.
The Taif conference is significant because it is convened ahead of a meeting of World Trade Organization (WTO) in Doha in November, giving ample time to press for the Kingdom’s WTO membership.
The summer resort city is making intense preparations for the businessmen’s conference, the largest economic gathering in the country.
According to Ibrahim Abdullah Al-Kamal, chairman of the Taif Chamber of Commerce and Industry, businessmen conferences have become an impetus for the development of the private sector.
“Such conferences are of great importance because they enable top government officials to exchange views with businessmen on matters that affect the private sector,” Al-Kamal said in a press statement.
The conference will also offer a golden opportunity for government officials and economic experts to discuss new strategies to strengthen the economy. He praised the keenness of Makkah Governor Prince Abdul Majeed and Taif Governor Fahd Muammar to make the event a resounding success. The chamber has mobilized all its resources to provide a suitable atmosphere for the conferees. Al-Kamal called upon businessmen in the country to register their names to participate in the conference which highlights the private sector’s growing role in strengthening the economy.
Ali Al-Husain, secretary-general of the Taif chamber, said the conference will debate three working papers.
The first paper, he said, will focus on developing the private sector to confront the challenges of economic globalization. The second paper will deal with the effect of regional and international competition to attract investment and its effect on Saudi economy.
The effect of globalization and WTO membership on the national economy will be the theme of the third paper.
The Taif conference will be different from the previous ones in many ways. It is held after the formation of the Supreme Economic Council, the General Investment Authority and the Higher Commission for Tourism and after the issuance of the new foreign investment law.
The sixth conference also comes at a time when the government intends to privatize some of its vital institutions. The proposals of businessmen’s conferences are taken seriously by the government departments and officials.
