JEDDAH: Islamic Development Bank (IDB) President Ahmed Mohammed Ali has urged the private sector of the member countries to play an important role in developmental activities in all respects.
Addressing the IDB Group Business Forum (Thiqah), which was attended by consuls general of the IDB member countries here yesterday, Ali said the main mission of this forum was to play a major role in enhancing and strengthening relationships between businessmen and businesswomen in member countries. He also said it would help in transferring the successful stories of private sector from one country to another in order to enable the excellent performance in the private sector to expand their market and operations to other countries and transfer their experience and knowledge so that the private sector in other member countries will benefit from their experience.
“Thiqah is commenced to boost the economic integration and social co-development by strengthening partnership with the private sector leaders that excel in their prime activities,” Ali said.
He added Thiqah, with the support of the Islamic Corporation for the Development of the Private Sector (ICD) and other members of thee IDB Group, will play a vital role in mobilizing investors and entrepreneurs in member countries.
Khaled Mohammed Al-Aboodi, CEO and general manager of ICD, said in his presentation “The forum is a communication tool providing the elements of successful investments of the private sector through harnessing the potential investment of the group, whether knowledge and/ or funding, in addition to investment insurance services, trade financing, and a guarantee of credit for exports as well as any other elements of success required by the private sector and offered by the IDB Group.”
Al-Aboodi added Thiqah would enhance its facilitation role by organizing well planned investment events in member countries and it would invite the private sector from member countries to participate.
It will also follow up the implementation of these opportunities until materialization. In addition, it will also measure the impact of the executed projects on the overall economy.
