São Paulo – Promoting investment between the countries of the Gulf and making the private sector more active in the region are among the objectives of the first edition of the Sharjah Business Forum, to take place from February 27th to 28th, in the United Arab Emirates.
The event is promoted by the Sharjah Chamber of Commerce and Industry and is part of a series of actions promoted by the organisation to attract investment in the emirate. The secretary general at the Arab Brazilian Chamber of Commerce, Michel Alaby, should participate in the event as a guest.
"Currently, local governments play a very strong part [in the economy]. We want a more active part to be played by the private sector in the countries of the Gulf Cooperation Council (GCC – the economic bloc that includes the Emirates, Saudi Arabia, Bahrain, Qatar, Oman and Kuwait)," said Hussain Al Mahmoudi, the director general at Sharjah Chamber.
According to the executive, one of the main objectives of the forum is to make the countries of the region invest in their neighbours. "We want to stress the importance of investment by the Gulf in the Gulf," he pointed out.
The forum will be divided into five sessions, apart from the opening presentation. The blocks will include themes like "The horizons of GCC common market", "The investment environment in Sharjah"; "The Gulf investment", "The small and medium projects" and "Businesswomen in the Gulf". According to Al Mahmoudi, there are many women working in areas like trade and real estate, among others. "They are in all sectors and are successful," he pointed out.
To the director general at the Sharjah Chamber of Commerce and Industry, the climate of political instability that affects the Arab world will not affect the disposition of investors to place funds in the Middle East and continue operating in the Gulf. "Our region is very important. It is one of the richest on the globe, among those with the greatest potential," he pointed out. "What is going on now is part of our life. The Gulf has a very attractive investment climate. What is happening in the Arab world is good, the changes are good," he said.
Among the speakers to participate in the event are Abdul Rahman Al-Attiyah, secretary general of the GCC, Jassim Al-Mannai, director general of the Arab Monetary Fund, Mohammed Bin Ibrahim Al Tuwaijri, deputy secretary general for Economic Affaris at the League of Arab States and other important executives of financial and business organisations in the region.
*Translated by Mark Ament