Public and Private Sector Need to Operate In New Ways

Dubai, United Arab Emirates, April 3, 2018, (AETOSWire): The push for innovation-based economies in the world is devising the new normal for a sustainable economy, according to the experts.

Most speakers at the inaugural edition of the Global Leaders Forum, held in Dubai on April 3, 2018, opined that the new trends define the ‘new normal’ requiring the public and private sector organisers to think and operate in new ways, helping to create sustainable economic models that ensure inclusive growth, innovation and creativity, industrial competitiveness and the ability to attract investment.

Organized by Bloomberg Businessweek Middle East, The Global Leaders Forum aimed at addressing challenges and next steps in creating sustainable business and economy.

Speaking at the conference, Mr. Hussain Sajwani, Chairman, DAMAC Properties, said, “The UAE economy is most vibrant and open to investments with diversification being vital for its growth. The digital adoption is key to growth of leading sectors.”

“A lot needs to be done between private sector and government to encourage the young and local population to work in the private sector, which is currently at low levels. The competitive and sustainable economy can be achieved by encouraging the increased participation by the young local population,” he added.

Mr. Armand Arton, CEO & President of Arton Capital, said, “There are various reforms need to be implemented to achieve futuristic goals. It is important to attract the human and capital investments to combat financial crisis. The new realities of migration across the world is changing the global economy.”

Ms. Rachel Pether, Senior Advisor, Sovereign Wealth Fund Institute, said, “Technology investments are the key for capitalising economic transformation. Financial services and real estate are the two areas of investments, which are key for sovereign wealth funds.”

“These conferences are significant for the region as they provide direct channels of open communication between experts and opinion leaders in the industry, an integral platform to keeping track of the ongoing rapid economic changes taking place in the GCC countries,” said Anshu Vats, Partner Public Sector, Oliver Wyman.

 Speaking on a panel discussion on Building Smart Transformation, Alisha Moopen, Executive Director and CEO, Hospitals & Clinics- GCC, Aster DM Healthcare, said, “The main objective of a smart city is to improve the quality of life of its people. The quality of life of a person is intrinsically linked to the health of the person.  The health of the people in turn determines the productivity of the nation. So it becomes absolutely critical to manage the health of the people using technology and data to influence human behaviors.”

The day-long event explored the challenges that governments, businesses and societies face in fostering innovation and being more sustainable, and the opportunities presented by following a more sustainable agenda.

The forum hosted global leaders, who have successfully led growth and driven innovation. The forum also served as a platform for leaders to engage, network, discuss and learn about best practices from global leaders.

“Our aim was to bring government entities and business leaders together to discuss challenges and ideas in being more sustainable. The Global Leaders Forum discussed issues of critical regional and national importance, from economic diversification to smart cities and energy. It also served as a platform for leaders to engage, network, discuss and learn about the best practices from global leaders,” said Poonam Chawla, General Manager, Bloomberg Businessweek Middle East.   

The high-profile speaker list at the event included H.E Suhail Al Mazrouei, Minister of Energy and Industry – UAE; H.E. Marwan Jassim Al Sarkal, CEO of Sharjah Investment Development Authority (Shurooq); Younus Al Nasser, Assistant Director General of Smart Dubai Office; Ahmed Bin Sulayem, Executive Chairman of Dubai Multi Commodity Centre; Hussain Sajwani, Chairman of DAMAC Properties; Mustafa Kheriba, Group COO of Abu Dhabi Financial Group; Hamed Zaghw, Chief Executive, Middle East of AECOM; Peter England, CEO of RAKBANK; Osman Sultan, CEO of Emirates Integrated Telecommunications Company; Armand Arton, CEO & President of Arton Capital; and Gregor Koželj, CEO, Founder of X8 AG amongst others.

The Global Leaders Forum attracted professionals, entrepreneurs, investors, political leaders, change agents and promising leaders to connect and network, under one roof. Through interactive sessions, the focus was on gauging the expected impact of new economic developments in the coming years, identifying the areas for change and improvement in policy-making and understanding how business leaders can embrace disruption to remain competent.