Release
MENA region’s adaptability muted as primary reason for sustainable economic growth
Dubai, December 4, 2011
Three years ago, many saw the television news footage of Dubai International Airport awash with abandoned cars as the city felt the pinch of the global financial crisis. But now the feeling around the area is different, and those scenes are but a distant memory.
The wider MENA region’s successful recovery has been largely attributed to its ability to adjust to changing circumstances, and the optimistic view of financial experts is based on the strong pro-business attitude of the government – coupled with the entrepreneurial skills of the growing population.
Dubai has transformed into an international business centre of global significance, and hopes to accommodate 15 million visitors by 2015. According to Farouk Soussa, Citigroup’s Chief Middle East economist, spurred by infrastructure spending and foreign investment Dubai’s economy could grow by three-and-half to four per cent this year, and by six per cent in 2012. The first quarter of 2012 will also see a leading financial platform being organised in the UAE’s second city – the 2nd Annual Financial Thought Leaders Summit.
The two-day platform is hosting up to 100 C-level thought leaders from a wide spectrum of corporate sectors. It is organised and hosted by French business information group naseba and taking place on March 14th and 15th 2012.
It features panel discussions and keynote presentations led by industry experts addressing subjects such as the paradigm of the dynamic economic trends in the MENA region, cost efficiency in operations, the role of an intrapreneur versus an entrepreneur, and most importantly – guiding the MENA towards excellence through innovation.
Mohammed Saleem, naseba General Manager India explained: “Through the 2nd Annual Financial Thought Leaders Summit 2012, we are bringing together the leaders who are helping to build the MENA towards excellence by actively or passively contributing to their organisation’s goals.”
Dubai has recently announced billions of dollars worth of tourism projects, a local real estate fund which could go up to US$1 billion, and the multi-billion dollar Al Sufouh tram project. Clear proof of Dubai’s position as one of the primary commercial hubs in the GCC and one that will drive economic growth throughout the wider Middle East region.
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