RIYADH, 4 December 2005 — Under the patronage of Custodian of the Two Holy Mosques King Abdullah, Riyadh Governor Prince Salman will inaugurate at the King Faisal Hall today the Second Riyadh Economic Forum (REF) which will discuss issues relating to further economic development through cooperation between the public and the private sectors, greater opportunities for women and readiness of the private sector to enter the WTO (World Trade Organization).
More than 1,500 economists are expected to participate in the 2nd REF conference. One of the forum’s sponsors is the Saudi Research & Marketing Group.
Dr. Muhammed Al-Katheeri, adviser to the REF, told Arab News that one of the major objectives would be how to enhance relationship between the public and the private sector. This session will feature a presentation by Prince Muhammed Al-Faisal, president of the Al Faisaliah Group. Other speakers will include Dr. Abdul Rahman Al-Tuwaijri, secretary general of the Supreme Economic Council, and Abdullah Al-Muallimi, former mayor of Jeddah.
The opening session on Monday will include a discussion on transparency in operations-one of the major requirements of the WTO. Participants in this session, chaired by Prince Bander ibn Salman ibn Muhammed, include Dr. Abdul Aziz Al-Owaish, Khalifa Al-Dubaib and Saleh Al-Homaidan, deputy secretary general of the Riyadh Chamber of Commerce and Industry. There will be a separate session for women under Nadia Bakhurjee.
Dr. Al-Katheeri said topics slated for discussion also include the readiness of the private sector to enter the WTO. It will be held under the chairmanship of Prince Abdul Aziz ibn Salman, assistant to the Minister of Petroleum and Mineral Resources. Other items on the agenda will be: women’s participation in the national economy; foreign manpower; railroad, roads and seaports and the scope for private sector participation in those projects. On the concluding day, Minister of Commerce and Industry Dr. Hashem Yamani will chair a session on the IT Industrial Estate to be set up in the Kingdom. Asked about the implementation of the previous Forum’s recommendations, Dr. Al-Katheeri said that responsibility was vested in the Supreme Economic Council. “We can only push for the acceptance of the recommendations,” he observed.
The first REF recommended a study of the investment environment in Kingdom with special emphasis on the private sector and its role. It also stressed the need for reframing the government apparatus and changing routine regulations to cut down delays. It also called for putting in place a monitoring system to follow up the performance of the national economy with regard to both the public and the private sectors.
