Under the theme “responsive and responsible leadership,” over 3,000 leaders will gather this week at the Annual Meeting in Davos to focus on the rapidly evolving global landscape and the attendant imperatives for leaders from all sectors and geographies.
The Middle East and North Africa region is inarguably deeply affected by these changes, while at the same time addressing significant home-grown transformations. The Annual Meeting will therefore be a key opportunity for leaders not only to think through implications of the new global context — ranging from the impact of the Fourth Industrial Revolution to the new US political leadership — but also to reshape the region’s economic and social agendas, which face the clear imperative of more inclusion and less energy-dependent growth.
It is clear that any economic and social advancement of the region as a whole is ultimately predicated on decreasing instability, resolving conflicts and reconstructing both the physical and human infrastructure in fragile societies. The Annual Meeting will therefore provide a platform for multi-stakeholder diplomatic dialogue on key geopolitical and humanitarian issues, including on the situation in Iraq and Syria.
Two specific initiatives related to the Middle East and North Africa region stand out this year in Davos.
The first one is focusing on the top Arab-world start-ups, and how they can be more integrated into shaping our economic and industry thinking about the future of the region. The World Economic Forum is partnering with the International Finance Corporation on this project and plans to introduce top emerging businesses in areas ranging from e-health to fintech and e-education. It will be rolled out gradually over the spring and culminate at the World Economic Forum on MENA at the Dead Sea on May 19-21.
The second stems from the work of the forum’s Regional Business Council and focuses on providing input on the economic reforms in the region. Led by Majid Jafar of Crescent Petroleum, the Actionable Policy Reform Initiative identifies six areas, where progress can be particularly consequential for the whole economy. These are: enhancing the efficiency of the labor market; modernizing bankruptcy laws; simplifying the process of creating a company; strengthening the government capacity to reinforce contracts; building functional mediation and arbitration methods; and promoting systems of good corporate governance.
In short, Davos this year will be an important milestone for decision makers from the region to steer their economic reforms to respond to the digital revolution and the imperative of more inclusion and greater diversification.
—
Mirek Dusek is head of Middle East and North Africa at the World Economic Forum.