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"It is our conviction that education is a fundamental human right and is instrumental in fighting poverty, eliminating gender inequality, as well as introducing democracy. Education is also the best tool to fight ignorance, dispel hatred and face terrorism. It has become a cornerstone for driving the economy forward." - Ahmed Mahmoud Nazif Prime Minister of Egypt
The tight security in Sharm El Sheikh starkly reminded participants at the World Economic Forum on the
Middle East of the most difficult challenges facing the region: the quest for peace and stability, particularly in Iraq and between the Israelis and Palestinians. While the focus was on the "Promise of a New Generation" and how to create the 80 million jobs needed over the next 20 years to stem resentment among youth, there was no denying other significant problems, including tensions over Iran's nuclear programme, widening income gaps resulting from sharply higher oil revenues, anger among the middle class following stock market
slumps and the lack of infrastructure.
Discussions were candid, and intense debate frequent, as participants deliberated on five sub-themes: Democracy, Peace and Security, the Business Agenda, Global Integration, Investing for the Future and Youth and Understanding. A highlight of the event was, of course, the meeting of Israel's Foreign Minister Tzipi Livni and Palestinian Authority President Mahmoud Abbas – the highest-level Israeli-Palestinian encounter in almost a year.
The Forum launched a number of projects during the meeting, including the Egypt Education Initiative, a programme to develop an action plan to address the gender gap, and a private sector-funded branding campaign to counter inaccurate perceptions of the
region. Four major messages emerged. First, businesses must take the lead in Middle East renewal. Next, the region cannot be competitive without equal opportunities for men and women. In addition, democracy, peace and stability cannot be achieved overnight, but hope for attainment rests with the region's youth, whose future and security must be of paramount concern. Finally, dialogue must be
reinforced to lead to more successful cooperative action.
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The Middle East Business Agenda
"We have to dig deeper through technology and innovation. We must bring our people to the standard of global players to compete internationally with the best of nations". - Mohammed H. Almady Vice-Chairman and Chief Executive Officer, Saudi Basic Industries Corporation (SABIC), Saudi Arabia |
| Countries in the region must confront obstacles to economic growth such as bureaucracy, inadequate infrastructure and limited technological skills. |
| • | Tenacious reformers are rewarded with higher growth and more investment |
| • | The region's labour markets need to be open and flexible |
| • | To attract more foreign direct investment, countries should focus on bolstering legal frameworks and cutting red tape to enhance efficiency and productivity |
| • | Economic diversification, increased investment in information and communications technology and the broadening of the energy sector will boost the region's competitiveness |
| • | Young people represent the Middle East's most valuable asset |
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 "We need to see more privatization. If you open your markets and give opportunities to both men and women, this region will do fantastically well." - Stelios Haji-Ioannou Chairman, easyGroup, United Kingdom |
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Investing for the Future
"We must grow the role of the private sector. It is important that the private sector not only speak out
but it should also do something." - William R. Rhodes Chairman, Chief Executive Officer and President, Citicorp Holdings and Citibank, USA; Co- Chair, World Economic Forum on the Middle East |
| Thanks to revenues from high energy prices, many Middle East countries have an unprecedented
opportunity to push forward reforms, while cushioning the pain that comes with them. |
| • | The oil price windfall could support significant restructuring of the region's economies and mitigate the negative effects of reform |
| • | The region must turn its high liquidity into tangible results, channelling funds to projects that promote growth with social equity |
| • | Capital markets must be developed that allow easier access to capital, create more attractive investment options and promote higher standards of transparency and governance |
| • | While the government's role is to provide a favourable investment climate, the private sector should lead the way to reform through corporate social responsibility, sustainable practices and social entrepreneurship |
| "We must have not only a formula to provide social services, but also a strong, competitive business model to survive. A social entrepreneur must integrate social objectives into the core business, bringing in all players in the value chain to create benefits for the environment and communities." - Helmy Abouleish Vice-Chairman and Managing Director, Sekem Group, Egypt |
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Global Integration
"The forces of globalization create tension just as they create opportunities. These tensions must be managed." - Nemir A. Kirdar Founder, President and Chief Executive Officer, Investcorp |
| Global integration will bring both advantages and disadvantages to the Middle East. |
| • | Impediments to the Middle East’s integration with the global economy include the negative perceptions of the risks investors face, the poor image outsiders have of the region and the lack of the systems and infrastructure needed to be a global player |
| • | While political and security risks are significant, they should not hide the fact that the Middle East compares unfavourably to other competing regions |
| • | The private sector should spearhead efforts to counter inaccurate perceptions of the Middle East, remedy its competitiveness shortcomings and convince people of the benefits of globalization |
| "We have to instil values such as tolerance and respect for human rights to make the process [of reform] sustainable, successful and genuine." - H.M. Queen Rania of the Hashemite Kingdom of Jordan Member of the Foundation Board of the World Economic Forum |
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Youth and Understanding
"We need a dialogue to listen to the needs of the young so we can turn the 'youth bulge' into assets we can be proud of." - Princess Lolwah Al Faisal Vice-Chair of the Board of Trustees and General Supervisor, Effat College, Saudi Arabia |
| The promise of a new generation is that they will break the cycle of conflict that has bedevilled the Middle East for decades. |
| • | Education is a key driver of growth. Programmes must be devised to promote entrepreneurship and innovation |
| • | Reforming education, particularly curricula, will instil good values in young people and encourage them to be tolerant and make peace |
| • | Youth should be encouraged to be civic minded. Government efforts to stifle the use of new technology and communications as a tool of political activism are likely to prove costly and ineffective. The best approach is to let ideas flow |
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| "How wonderful, how normal and how sacred it is when we sit together as brothers." - Rabbi Awraham S. Soetendorp Jewish Institute for Human Values, Netherlands |
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| "Religion is crucial for the peace of the world; it can either consolidate it or harm and destroy it." - Lord Carey of Clifton Former Archbishop of Canterbury, United Kingdom; Member of the Foundation Board of the World Economic Forum |
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Democracy, Peace and Security
"There must be a stronger
dialogue between politics and business to move the peace process forward." - Shafik Gabr Chairman and Managing Director, Artoc Group for Investment and Development, Egypt, and Chairman of the Arab Business Council. |
| The deteriorating situation in Iraq, the continuing conflict between the Israelis and Palestinians (particularly with the election of a Hamas-led Palestinian government) and the rising tensions over Iran’s nuclear programme confirm that democracy, peace and security remain elusive. |
| • | While democracy, peace and stability cannot be achieved instantly, dialogue among relevant parties must be stepped up |
| • | Arab countries must manage reform and
liberalization while carefully maintaining stability, security and fairness |
| • | Businesses, politicians and members of civil society should deepen communication and cooperation |
| • | Gender equality and youth security are key goals that will enhance the prospects for democracy, peace and stability in the region |
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| "This is an era where ground is shifting in the Middle East…and it is combined with changing forces of globalization. We can help empower. We can help the process in terms of political engagement. But it has to come from the people themselves." - Robert B. Zoellick US Deputy Secretary of State. |
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| "Reform is one of the priorities of the Arab world. All countries and societies want to move ahead and have their own views on how to move ahead. Reform is an item for all of us to support but we have to be cautious because of the fragility of the security situation and uncertainty on the international scene." - Amre Moussa Secretary-General, League of Arab States, Cairo. |
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