The Arab Fund in collaboration with the IMF Middle East Center for Economics and Finance (CEF) organized a Seminar on “Unlocking the Region’s Employment Potential in a Changing Global Economy: Challenges and the Path Forward.

The seminar convened policy makers and experts from global and regional financial institutions, representatives from the public and private sectors, civil society, international organizations, and the diplomatic community. It was moderated by Ms. Amy Bell, Senior Editor at the Financial Times. It explored policy strategies capable of driving transformative changes in the region’s economic landscape, taking into account both domestic developments and global trends such as advances in artificial intelligence and the transition to a green economy.

The discussion focused on the selection of strategic sectors and the development of an institutional framework that fosters private sector dynamism and enhances international competitiveness.  Mr. Paulo Drummond, Director of the CEF, opened the seminar, reiterating the IMF’s continued support to help MENA countries in achieving high and sustained growth. The seminar included brief presentations on the main features of a successful growth model tailored to the region that drives domestic innovation and high living standards amidst a changing global economy (Messrs. Cherif and Hasanov, IMF); strategies to boost international competitiveness and select promising niches in global supply chains (Ms. Sameera Fazili, Roosevelt Institute and former Deputy Director of the National Economic Council); and a structuralist perspective on growth, including coordination with macroeconomic policies and the financing of the transformation strategy (Mr. Jose Antonio Ocampo, Columbia University and former Minister of Finance of Colombia). Mr. Salem Alhajraf (Columbia University’s Center on Global Energy Policy and former Kuwaiti Minister of Electricity, Water, and Renewable Energy) discussed the opportunities arising from the ongoing global energy transition. Mr. Mahmoud Sami Nabi, (Economic Advisor at AFESD), underscored the critical need for long-term strategies to foster innovative entrepreneurship and develop relevant human capital.