The Council of Arab Economic Unity announces 'A common vision for Arab digital economy'
Source: AETOS Wire for CAEU , Author: Posted by BI-ME staff
Posted: Fri November 30, 2018 1:23 pm

BOSTON. --(AETOSWire)-- “A common vision for Arab Digital Economy” is the bold plan driven by the Council of Arab Economic Unity (CAEU) at the League of Arab States to boost political and social stability in the Arab World through Digital Economy.

Dr. Ali Mohammed Al Khouri, Advisor to the Council of Arab Economic Unity, said that the initiative received the support of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE’s Armed Forces.

The plan aims at digital inclusion, knowledge-based legislative and technology infrastructure, and public and private frameworks that will boost security, welfare and prosperity for the Arab societies.

The UAE’s support for the common Arab vision will promote a joint Arab action. Al-Khouri stressed on the importance of the role of technology as a tool to achieve the objectives of sustainable development and economic growth rates through creation of investments opportunities, employment and opening of new markets.

The UAE is renowned for its knowledge-based approach and youth empowerment. The UAE has been fostering a number of initiatives for skills development like the one million Arab coders project and the e-learning platform offering over 50 million Arab students across the world access to education among other projects that support sustainable development for the Arab societies.

The Council of Arab Economic Unity (CAEU) is the execution arm for the plan. CAEU delegation met with Mourad Wahba, Assistant Secretary-General, Assistant Administration and Regional Director for Arab States at UNDP and with senior officials from the United Nation’s Division for public institutions & Digital Government. Al-Khouri noted that the investments directed towards the Arab regions by UNDP is one Billion US Dollars.

“This initiative will be the foundation to promote the social and economic security for the Arab societies. That is why it is important to cooperate with international organizations and bring together Arab and International thinkers and practitioners for the development of the strategy. Such involvement will ensure global influence and introduction”, stated Al-Khouri.

“This is a new model for developing Arab world’s economies to tackle global challenges. The UAE is putting its expertise to use to boost sustainable development in the Arab states”, Al-Khouri concluded.

The strategy will be presented in an international conference that will be hosted in AbuDhabi on 16 & 17 December 2018. The outputs will be presented to the Arab Leaders at the Arab Summit scheduled in March 2019 in Tunisia.

The World Bank noted the importance of the strategy in paving the way for inclusive economic development opportunities in the Arab world. UN, UNDP and the World Bank support the initiative and CAEU for its work for comprehensive development and enhancement of cooperation between the Arab states.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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INTERNATIONAL. With "all things digital", a generous amount of ambiguity and experimentation is always to be expected. But one thing seems fairly certain: big data will demand more of people, not less, as our digital epoch unfolds.
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LONDON. The UAE is the best-known example of business-friendly reform in the MENA region; Many Western countries' instinct to protect and turn inwards, combined with a wider stagnation in the quality of Governance globally is acting as a brake on Economic Openness.
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UAE. Ecosystems and open platforms create an economy of things; First Digital Trust Forum with international experts; "We need secure, open platforms and an internet in which users have the power to decide for themselves."
INTERNATIONAL. With "all things digital", a generous amount of ambiguity and experimentation is always to be expected. But one thing seems fairly certain: big data will demand more of people, not less, as our digital epoch unfolds.
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