JEDDAH, 16 February 2005 — The 6th Jeddah Economic Forum will have special sessions for students and youths. “There will be dedicated youth sessions to be addressed by students and fresh graduates,” Emad M. Mugharbel, CEO and managing director of Jeddah Marketing Board (JMB), the events marketing arm of the Jeddah Chamber of Commerce & Industry, told a press conference at Jeddah Hilton yesterday. The meeting was hosted by General Motors (GM), the lead sponsor for JEF 2005, which is scheduled at the hotel from Feb. 19-21.
The Kingdom has 65 percent of its Saudi population as young as under 21 years of age and it is in this context that the focus will be on its youth, he said, adding that this is done under the direction of Makkah Governor Prince Abdul Majeed and with the cooperation of the London Business School, which is chosen as the academic partner for the JEF for the second year in a row. “The forum will essentially reflect the voices of the future,” Mugharbel said.
The three day event, which will have some of the world’s political and economic leaders as key speakers and panelists, will discuss major issues affecting the Kingdom, region and world under the theme “Capacity building: Developing people for sustainable growth.”
Mugharbel described the JEF as the “think tank” of the Middle East and offered a platform for exchanging views on various issues and also discussing the experience of successes and failures by speakers and participants. “It will offer an opportunity for all participants and delegates for interaction and participation in Q&A programs,” he added.
GM and JMB signed a landmark agreement recently, making the world’s largest automotive manufacturer the lead sponsor of the 6th JEF. This marks the first time in the forum’s history that an international company has been the event’s lead sponsor. After all, the JEF is now firmly established as the region’s most prestigious business gathering.
“The GM-JMB agreement marks the first time an international company has been the forum’s lead sponsor. And together with the world-class panel of speakers confirmed for this year’s forum, we take this as a measure of the event’s success on an international stage,” Mugharbel said.
“Saudi Arabia is a very important market for GM so the opportunity to partner with the JMB and the JCCI is a fantastic opportunity for us. The JEF has grown in international stature over the last five years and the upcoming event will surely be another world-class event,” James L. Cnossen Jr., GM’s marketing director for Middle Eat & Africa, said.
He recalled that the very first car in the kingdom was a GM-made Buick way back in 1907.
“Our success in the Kingdom is built on solid foundations. Very few cars can boast the heritage that has made the Chevrolet Caprice a true ‘ship of the desert’ and the GMC Suburban stands out on its own. The ever popular ‘jimsy’ bears no comparison,” he said, adding that GM’s reputation for reliability has helped ensure this heritage has developed into long-term success.
“The Kingdom today accounts for more than 50 percent of GM’s sales in the region. In 2004, we sold almost 45,000 units, up by 44 percent over 2003. Given the strategic importance of the Saudi market, GM is delighted to be given the chance to become the first international company to be the lead sponsor of the JEF,” Samir Homsy, GM’s Dubai-based regional manager, said.
