CORPORATE VOICE > Barry Swayn, Managing Director, STORM Associates, Dubai, UAE

What are your aspirations for a promising future for the Arab region?

“The Arab world is passing through a critical phase, i.e. standstill of the peace process, the economic crisis etc. Although this region faces crises, the prospects and aspirations of the future are still promising. There are several challenges, but we all have the confidence of our capabilities to tackle them, believing that our problems are to be solved and our region is able to move forward on the right path. Our Arab region possesses a human wealth capable of creating a new and better future.”

What role can educational organizations and social organizations play in generating socio-economic progress in the region?

“Create social support. It is fundamental that education be unbiased and founded on intellectual rigor to raise standards and elevate what is the ‘cornerstone’ of society and the basis of a diversified social and economic progress.”

What role can the youth play in our future and how can we support them?

“Young people of today represent a powerful means for peace and development in our region. Besides their intellectual contribution and their ability to mobilize support, their unique perspectives and creativity can assist them to energize these processes. We can assist our youth by providing them with the right tools and resources that will enable them to realize their visions and aspirations for a more prosperous region. This approach entails the need to build the skills and capacity of our youth to actively collaborate with adults in the implementation of peace and development goals.”

CORPORATE VOICE > Ihab Ghattas, Assistant President, Middle East Region, Huawei Technologies, on the role of telecommunications in the region

“Over the last ten years, the telecommunications industry has grown and begun changing from the familiar patterns of the past. These changes have been driven by customer needs, technology changes and the emergence of new business models.  As the industry enters 2009, the global financial turmoil adds a new dimension to an already complicated picture and deepens the existing challenges. The ability of the operators and their partners to rapidly seize new opportunities, anticipate customer demands and be able to quickly modify strategies will determine the ongoing success of the telecommunications industry. 

Emerging markets will become a major factor in industry expansion, but decreasing ARPU (average revenue per user) will act as stimulation for creative solutions. Uncovering these opportunities, providing products, services and support to operators as they deal with the emerging trends and successfully managing the impacts will be the key to future success. 

Even in areas where economies are experiencing a slump, the telecom industry is still able to maintain and even accelerate its growth. Successful societies are going to require greater connectivity, placing the social responsibility of bridging the digital gap on the telecom industry.  During the last ten years, an information world has taken shape; the rise of broadband has brought about a massive social change to the point where people who use the web a lot often wonder how they ever managed without it. This trend will continue and over the next few years, the universal spread of high-speed, low-cost, anywhere connectivity will be the driving force for the telecom industry’s development. 

In this process, innovation and transformation is an everlasting topic. Working together, we will create a truly connected Arab world where people can have equal access to communications.”

Ihab Ghattas is the Assistant President of Huawei Technologies for the Middle East region, and a senior telecommunications professional with over 28 years experience in the telecoms industry. Prior to joining Huawei, Ihab spent most of his career with Etisalat, a leading operator in the MENA region. Ihab graduated from Ain Shams University in Cairo, Egypt with a BSc in Electrical and Electronic Engineering.

CORPORATE VOICE > Nassim Kerdjoudj, Founder, NetSkills

(Scroll down to read this post in French)

“The international financial crisis has revealed to the world the current limits of the market economy which is supported by the international financial system as designed and developed by the major world economic powers.

Indeed globalization, whose “merits” and “potential” have been touted, mainly by the West and highly industrialized countries, has always been based on the principle of bipolarity of the value chain between the countries that create value – holders of technology who maintain a firm grip on the reins of the global financial mechanics, and on the other hand, consumer countries which are capable to bear, even absorb, both debts and production of goods and services.

The bold emergence more than a decade ago of new emerging economic powers (China, India, and the Near East) has undoubtedly shifted the centers of gravity and economic power play.

Findings on globalization:

-1- The crisis of the Fordist production system in developed economies has led to a vertical disintegration of production;

-2- The international division of labor no longer responds to a logic of specialization by sector or product, but of division by segment or partial production process (chains of global values);

-3- Segments with a very high value added (immaterial production, creation of concepts and design …) remain confined to developed economies and some emerging countries;

-4- Globalization and advances in communication have created a global collective imaginary, leading to societal progress regardless of state action;

-5- The rise of China, India and other emerging countries reduces the development opportunities of other countries and increase the risk for them to be among the losers of globalization.

Participation of Arab countries in globalization:

It corresponds roughly to 3 attitudes:

1. The financial capacity to hold important positions in the areas of high economic value added;

2. Subcontracting with its downside, i.e., dependency vis-à-vis the ordering parties

3. The “primitive accumulation” of growth factors: infrastructure, training, savings and funding capabilities;

4. Growth through exports of raw materials to the detriment of impoverished local populations.

What are the options for Arab countries?

The pattern of specialization of developing countries rich in natural resources relies on competitive advantages in production and exports of goods with high levels of low-tech work that have a low value added (chemical, steel, metallurgy, textile … ). These goods however, benefit from a more or less important protection in international trade exchanges.

However, the current world trade dynamics show that the number of countries of the South which are able to compete in the industrial arena is very selective. Competition between countries with great gaps in their levels of industrialization favors the highly competitive ones (mainly the developed countries), which alone can manage to increase their market share, with the exception of some countries of the south.

Exports of manufactured goods from the south are concentrated in only 13 countries and two sub-continents: Argentina, Brazil, China, Hong Kong (China), India, Indonesia, the Republic of Korea, Malaysia, Mexico, the Philippines, Taiwan (China) and Thailand. These countries have seen their shares in world exports of manufactured goods increase from 9% in the 80’s to 22% in the mid 90’s.

Ten other developing countries – Bangladesh, Egypt, Malta, Mauritius, Morocco, Pakistan, South Africa, Sri Lanka, Tunisia and Turkey – have also experienced an increase in their exports of manufactured goods, but to a lesser extent than the countries listed above.

For some Arab countries, challenges at the industrial level are primarily national:  reduce imports, encourage investment (domestic and foreign) to give priority to local needs.

At the industrial level, the competitiveness of industrial products is low.  A regional comprehensive policy could opt for the medium-term objective of restoring internal competitiveness to limit imports.

In any event, it must include:

- An inventory of the competitive and non-competitive industrial sectors;

- Identifying the elements of competitiveness, where it exists;

- Specifying operational budgets of quantitative and qualitative objectives by sector across a determined scale of time;

- Means to achieve these objectives, arranged by sector and time spans;

- Translation of this policy on the ground, with the designation of supervisors and national and local partners to be tasked with its implementation.

How?

o        By creating a common financial instrument: A regional Arabic bank capable of operating across the entire region;

o        Providing an environment conducive to the emergence of competitive economic projects within countries;

o        Consolidating the spontaneous changes of society through public policy in terms of education, health, democratic rights;

o        Providing reliable public services, renovation and development of communications infrastructure (transport, telecommunications …);

o        Promoting savings for economic purposes.

o        Locally produce more goods and quality services benefiting the people and businesses;

o        Bring national standards (in terms of competition, production …) closer to international standards;

o        Set goals: What increase in production? In what areas? For what purpose?

o        Use the experience and expertise of other countries; deal with international development programs;

o        Encourage the development of license or franchise, rather than subcontracting.”

 

Nassim Kerdjoudj was born in september 26th 1971 in Algiers. After an A level in Mathematical, he graduated with a Comptuer Engineering Mastery from Paris 7 Unversity and Management of Quality at French Art et métiers High School. He started his carreer as a Consultant in Decan Group, a French IT services Company and joined in 1998 the Consulting Division of Lotus Development (an IBM Software Susidiary) before taking the Job of Professional Services Manager in IBM France. In 2003, he was back to Algeria as a Business Development Manager for Microsoft Corp. In 2004, he decided to launch his Start-up, Net-Skills, to provide IT consulting services, Mobility solutions and Value Added Services on the Algerian strong potential market. Nassim Kerdjoudj is the younger member on the Executive Council of the Forum des Chefs d’Entreprises (the main employers association in Algeria) and the President of the CARE Club, the first economic Think Tank in Algeria. He was also a former President of the French Youth Section of the Automotive Engineers Association.            

En Francais: 

“La crise financière internationale a permis de constater au yeux du monde les limites actuelles de l’économie de marché adossée au système financier international tel que ce dernier a été conçu et développé par les grandes puissances économiques mondiales.

En effet, la mondialisation dont on a vanté les mérites et le potentiel, principalement du coté de l’occident et des pays fortement industrialisée a toujours été basée sur le principe d’une bipolarité de la chaine de valeur entre les pays créateur de valeur, détenteurs de technologie et tenant fermement les rennes de la mécanique financière mondiale, et d’autre part les pays consommateurs capable de supporter, voire d’absorber, à la fois les dettes et la production de bien et de services.

L’émergence depuis plus d’une décennie de manière tranchée de nouvelles puissances économiques émergentes (Chine, Inde, Pays du Proche Orient) a indéniablement fait varier les centres de gravité et les rapports de force économique.

Constats sur la mondialisation:

• La crise du système fordiste dans les économies développées a conduit à une désintégration verticale de la production

• La division internationale du travail ne répond plus à une logique de spécialisation par secteur ou produit, mais de division par segment ou processus partiel de production (chaines de valeurs mondiales).     

• Les segments à très forte valeur ajoutée (production immatérielle, création de concepts et design…) restent cantonnés dans les économies développées et dans quelques pays émergents

• La mondialisation et les progrès de la communication ont créé un imaginaire collectif mondial conduisant à des avancées sociétales indépendamment de l’action des états.

• L’essor de la Chine, de l’Inde et d’autres pays émergents réduisent les opportunités de développement des autres pays et renforcent le risque pour ceux-là de se situer parmi les perdants de la mondialisation.

La participation des pays Arabes à la mondialisation

Elle correspond schématiquement à 3 attitudes :

1.      La capacité financière permettant de prendre des positions importantes dans les domaines économique à forte valeur ajoutée

2.      La sous-traitance avec son revers, la dépendance vis-à-vis des donneurs d’ordres

3.      l’ « accumulation primitive » des facteurs de croissance : infrastructures, formation, épargne et capacités de financement

4.      La croissance par les exportations de matières premières au détriment de la paupérisation des populations locales,

Quelles options pour Les pays arables ?

Le schéma de spécialisation des pays en développement riches en ressources naturelles s’appuie sur des avantages compétitifs dans la production et les exportations de marchandises à forte teneur en travail de basse technicité, avec une valeur ajoutée faible (chimie, sidérurgie, métallurgie, textile…). Ces marchandises bénéficient néanmoins d’une protection plus ou moins importante dans les échanges internationaux.

Pour autant, le commerce mondial actuel démontre que l’entrée en compétition de pays du sud dans le champ industriel est très sélective. La concurrence entre des pays aux niveaux d’industrialisation très différents favorise les pays fortement compétitifs (essentiellement les pays développés), seuls capables d’augmenter leurs parts de marchés, à l’exception de quelques pays du sud.

Les exportations de biens manufacturés émanant du sud sont concentrées dans seulement 13 pays et deux sous-continents : l’Argentine, le Brésil, la Chine, Hong-kong (Chine), l’Inde, l’Indonésie, la République de Corée, la Malaisie, le Mexique, les Philippines, Taiwan (Chine) et la Thaïlande. Ces pays ont vu leurs parts, dans les exportations mondiales de biens manufacturés, passer de 9% dans les années 80 à 22% vers la moitié des années 90.

Dix autres pays en développement – le Bangladesh, l’Egypte, Malte, l’île Maurice, le Maroc, le Pakistan, l’Afrique du Sud, le Sri Lanka, la Tunisie et la Turquie – ont également connu une augmentation de leurs exportations de biens manufacturés, mais dans une moindre mesure que les pays cités plus haut.

Pour certains pays arables, les enjeux au plan industriel sont d’abord nationaux : réduire les importations, favoriser l’investissement (national et étranger) pour répondre en priorité aux besoins locaux.

Au plan industriel, la compétitivité des produits industriels est faible. Une politique régiobale globale pourrait se donner comme objectif à moyen terme de restaurer une compétitivité intérieure pour limiter les importations.

En tout état de cause, elle doit comporter

-          un état des lieux des secteurs industriels compétitifs et non compétitifs,

-          une identification des éléments de cette compétitivité, lorsqu’elle existe,

-          la déclinaison d’objectifs quantitatifs et qualitatifs par secteur dans une échelle de temps déterminée,

-          des moyens d’atteindre ces objectifs, ordonnancés par secteur et dans le temps,

-          la traduction spatiale de cette politique, avec la désignation des pilotes et partenaires nationaux et locaux chargés les mettre en œuvre.

Comment ?

- En se dotant d’un instrument financier commun  : Une banque régionale Arabe capable d’opérer sur tout la région.

- Offrir un environnement favorable à l’émergence de projets économiques compétitifs à l’intérieur des pays

- Conforter les évolutions spontanées de la société par une politique publique aux plans de l’éducation, de la santé, des droits démocratiques

- Fiabiliser les services publics, rénover et développer les infrastructures de communication (transports, télécoms…)

- Favoriser l’épargne à visée économique Produire sur place davantage de biens et services de qualité à la population comme aux entreprises

- Rapprocher les normes nationales (au plan de la concurrence, de la production…) des normes internationales

- Se fixer des objectifs : quelle augmentation de la production nationale ? dans quels domaines ? à quel horizon ?

- Faire usage de l’expérience et expertise des autres pays, se saisir des programmes internationaux de développement

- Favoriser le développement de licence ou franchise plutôt que la sous-traitance”

CORPORATE VOICE > Nehmé Lebbos, GM, Owliance Consulting, on the support our youth need for the future

 

'Pour soutenir les jeunes dans leur rôle de vecteur du changement, nous devons faciliter leur accès aux NTIC'

 

(Scroll down to read this post in French) 

“My vision of youth’s role for the future is from a Lebanese point of view, mainly because my company is based in Lebanon. However, I have had the opportunity to ascertain that this point of view is also suitable for the Arab world as a whole as I have discussed the issue with other Managing Directors from Arab countries such as Jordan and Syria. I also received confirmation for my opinion as I have collaborated with several young professionals from Tunisia, Morocco and Algeria.

Young people are the driving forces for change in their respective societies, change in mentalities as well as change in methods used. They contribute with new skills and new knowledge, mainly through their command of new technologies. Web2.0 and the Internet community have enabled them to join the global community to gather information to which they would not otherwise have access to and become familiar with international indicators. For example, awareness on the importance of environmental issues is a new factor common to many young people in the Arab world today. Obviously the increased awareness is due to their travels abroad but also by surfing the Internet seeking international news. Therefore they lead the environmental awareness process at home: they will educate their parents and then, their own children. The same goes for women’s rights and children’s rights. If youth also benefit from support from their families to preserve their cultural identity, it enables them to evolve in accordance with their culture and their roots, such awareness can only be beneficial to youth and the Arab community as a whole.

In order to support youth as a force for positive change, Arab states have the responsibility to give them access to information and culture by facilitating access to new technology. I believe it is the government’s role to promote genuine democratization of these technologies so that access to information doesn’t remain the privilege of the wealthy. This democratization, of course, must be done with the appropriate procedures and training to protect the youngest of the dangers and abuses associated to the Internet. We can draw inspiration from the Western experience.

All this can only be possible if a debate is held at the level of Arab states and, why not, across the Arab world, on the issue of access to New Information and Communication Technology.”

Nehme Lebbos is the General Manager of Owliance Consulting, a Web2.0 Company in the Middle East. 

 

Quel rôle les jeunes peuvent-ils jouer dans le futur du monde arabe, et comment peut-on les y aider ?

“Mon point de vue sur le rôle des jeunes pour le futur est un point de vue libanais, car j’exerce mon activité de dirigeant d’entreprise au Liban.  J’ai cependant pu vérifier que ce point de vue était adapté à l’ensemble du monde arabe, lors des occasions qui m’ont été données de le partager avec des directeurs syriens ou encore jordaniens. J’ai également pu confirmer mon opinion lors de mes différentes collaborations professionnelles à Paris avec des jeunes venus de Tunisie, du Maroc ou encore d’Algérie.

Les jeunes sont vecteurs de changement dans leurs sociétés respectives. Un changement dans les mentalités et les méthodes. Ils apportent avec eux de nouveaux savoir-faire et de nouvelles connaissances, grâce notamment à leur maîtrise des Nouvelles technologies. Le web 2.0 et l’internet communautaire leur ont permis de se fondre dans une communauté globale, de récolter des informations auxquelles ils n’auraient pas eu accès par ailleurs, et de se familiariser avec des indicateurs internationaux. Par exemple, la prise de conscience de l’importance des questions écologiques est un nouveau facteur commun à de nombreux jeunes aujourd’hui dans le monde arabe. Ils y ont été sensibilisés bien sûr lors de leurs divers séjours à l’étranger, mais aussi lors de leurs navigations sur internet à la recherche de l’actualité mondiale. Ils sont ainsi, chez eux, vecteurs de cette prise de conscience écologique : ils y sensibiliseront leurs parents, puis leurs propres enfants. Il en va de même pour la question des droits de la femme et de l’enfant. Si ces jeunes bénéficient aussi d’un soutien et d’un encadrement familial qui préserve leur identité culturelle et leur permet d’évoluer dans le respect de leur culture et de leurs racines, ces prises de conscience ne peuvent être que bénéfiques pour eux et pour toute la société du monde arabe.

Pour soutenir les jeunes dans ce rôle de vecteur d’un changement positif, il est de la responsabilité des états arabes de leur donner accès à l’information et à la culture, en leur facilitant l’accès aux nouvelles technologies. Il s’agit selon moi pour les gouvernements de lancer une véritable démocratisation de ces technologies, pour qu’elles ne restent pas l’apanage des plus fortunés. Cette démocratisation doit bien sûr s’accompagner de démarches et formations pour protéger les plus jeunes des dangers et des dérives de l’internet. Nous pouvons pour cela nous inspirer de l’expérience occidentale. 

Mais tout ceci ne sera possible que si une grande réflexion est lancée, à l’échelle des états arabes et pourquoi pas de manière transversale dans tout le monde arabe, sur cette question de l’accès des populations aux NTIC.”

40 ans, Expert en Nouvelles Technologies, de formation Ingénieur Système d’Information (CNAM, Paris) et Ingénierie du Management (Paris X), Nehmé a notamment travaillé chez Havas (Publicité, Média) et Valoris (cabinet de conseil) en France. Pendant 15 ans, il a géré des projets de grandes envergures et a mené des missions de conseil, notamment la mise en place de site Internet / Intranet (Seliance voyage, e-Rothschild, e-Laser – Groupe Galerie Lafayette) et des systèmes de Business Intelligence et CRM (Société Générale, BNP,  Paribas, Komerční Banka (Prague), NSMD, Zebank, Zurich Assurance, CFF, …) dédié au Contrôle de Gestion, à la fidélisation clients et au Marketing opérationnel et stratégique. Fondateur du portail www.iloubnan.info, Il assure aujourd’hui le poste de Directeur General d’Owliance Consulting (Moyen Orient).

 

 

 

CORPORATE VOICE > Rasem Dabbas, PhD, Operations Manager, Nestle Waters Jordan, on what he aspires towards the region’s future

 

'I aspire that we attract the Arab intellects living abroad back to the region to accelerate development and transfer knowledge.'

“Trust, Collective Collaboration, and Action are among my aspirations from this upcoming Economic Summit…

The time is right for our leaders to focus on the region’s economic development especially after the global financial meltdown.  The Arab world has a population of around 300 million people and this number will double in three decades.  The majority of this population is under the age of 35.  The Arab world holds some of the richest natural resources in the world.  The Arab world holds the largest sovereignty funds in the world.  The Arab world holds some of the most fertile lands.  Despite all of the aforementioned, we still import 60% of our food needs from abroad.  Furthermore, 70% of the regions imports come from abroad and 70% of the region’s exports go abroad.  Unemployment is on the rise and regional conflicts are developing.  Economic development is the cure.

I aspire for collective collaboration between Arab countries that leads to integration of our economic resources: oil money, work force, & natural resources.

I aspire to boost agriculture in the Arab world to ensure food security for the region.

I aspire that we seriously invest in higher education & scientific research.

I aspire that we attract the Arab intellects living abroad back to the region to accelerate development and transfer knowledge.

I aspire that we invest in building an infrastructure of roads and railways that connects the Arab world.

I aspire that we invest more in enhancing environmental awareness.

I aspire for a unified currency and implementation of free trade agreements.

Thanks to the global financial crisis.  Both Arab individuals and governments must now reconsider investing their wealth in the region on “real” projects that employ our youth instead of investing in paper derivatives abroad!  We must now focus on building a promising future for our youth and give them the support so the Arab region can play an increasingly significant role in global economics in the future and the time is just right! 

I must caution, however, that I am afraid that my aspirations will not be fulfilled unless we allow democratic representation of our citizens in governments so they get a fair chance to participate in formulating fair and unbiased principles.  We must push harder for democratic reform in the entire region!”

 

Rasem Dabbas is currently responsible for Nestle Waters operation in Jordan where he raised the market share up to 50% and was earlier with Nestle Water in the UAE. His previous associations include TEFEN USA where he was a business consultant before moving to Motorola where he was the Director of Supply Chain operations. Rasem holds an MBA and PHD in Industrial Engineering & Operations Management from the Arizona State University, Phoenix, amongst other qualifications.  

 

CORPORATE VOICE > Omran Yousef, CEO, IPRO Development Co, UAE, on key issues

Peace, unity and prosperity are the three most elusive aspirations for the Arab Region: Omran Yousef

 

 

What I aspire towards for the region’s future… 

“Peace, unity and prosperity are the three most elusive aspirations for the Arab Region. These in turn will bring hope, a new perspective and a sense of identity.”

Our educational and social organizations…

 “Educational organizations are pivotal in providing the foundation for our young and foster the growth and development for our future. It is fundamental that education be unbiased and founded on intellectual rigor to raise standards and elevate what is the ‘cornerstone’ of society and the basis of a diversified social and economic progress. Social organizations are the moderators that provide a conscious for the establishment to ensure that a fair and equitable distribution of welfare and opportunity.”

Our youth…

 “…is fragile, innocent, pure, and readily influenced, open minded and able to be cultivated in the aspirations for the development of one’s Culture and Heritage. We should cherish what we have and understand that our future is in our children’s hands, that our children are a reflection of what we provide and give them. Our youth have the opportunity of shaping our future that embodies the aspirations of change, growth and a prosperous destiny…”

The global misconceptions about the Arab region that I’d like to address…

“That the majority of the people that make up the Arab world are no different to any other social group anywhere else in the world.

“That family values are equally as rich and responsible no matter where people come from, that social and cultural values are a diversity and not a difference.

“That religion and its practice, has many different ideologies and beliefs, that the practice or not of religion is a personal conviction that does not make any one person better or lesser than another.

“That it is what is in the heart of the individual that is important, how one treats his brother or sister that is even more important, showing respect and regard for others no matter what their social standing or educational background is, is even more important, and is the real gauge as to what type of person an individual is.”

The private sector…

“…should demonstrate a social conscious that reflects their economic success of their area of business.

“Businesses should be the ‘grass-roots’ level of social change and responsibility, and be encouraged to be the initiators of ‘small’ change, the ‘doers’ that have an even more beneficial impact and benefit than that of Governments and Authorities.

“Have the understanding and awareness that small change at the private sector level has an even greater impact and success than the attempts of Governments to cause change.

“One of the most significant socially progressive and responsible activities that the private sector can partake in, is to initiate programmes that are focused on environmental issues, that can have accountable benefits even at the smallest of degrees. The private sector should lead by example at the community level.”

What is required to ensure economic stability in the region, particularly given the global financial meltdown?

“The recognition that unfair exploitation in any aspect of commercial or labour trading is detrimental to any form of economic stability.

“Development of programmes that focus on the provision of local needs whether by agriculture, fabrication, or manufacture to contribute to local and regional economy, as well by developing local skills, contributing to local employment and collectively contributing to economic stimulus.”

What welfare opportunities need to be generated across the Arab region?

“Identify and understand the diversity of welfare issues and needs within the local community through to the wider region, what your community can do to assist and what its strengths are in being able to share and care to others.

“The wealthier and better off should with respect, work to create programmes that reach out to the less fortunate, and establish higher levels of assistance that are more difficult for others to promote or contribute to.

“Programmes that relate to basic necessities of healthy living are the cornerstone of welfare programmes when not a crisis, and these should be developed wherever possible at Governmental level based on collective cooperation.”

What measures can the Arab states take to together build a robust regional economy and augment social progress?

“Collective cooperation between Governments in developing regional strategies, and development programmes that share location and mutual benefits and opportunities.”

How can we secure food sufficiency, environmental sustainability, energy sufficiency, and better public transportation infrastructure?

“Again, this is an issue where regional Governments need to develop collective cooperation programmes.

“The fundamental issue for the future is sustainability and through the true ownership of the future at a local impact, regional and global level, there are many initiatives that we as individuals can all take an active role in identifying beneficial programmes or wider scale initiatives that contribute to all mankind.”

 

 

Omran Yousef is the Chief Executive Officer of IPRO Development and plays a plays a key role in the strategic direction of the Company. Omran has over 10 years’ experience in the property industry across a broad spectrum of areas, including Construction, Project Management, Development Management, Funds Management and Asset Management. IPRO was established in 2008 in the UAE as a Property Management and Development Company, also licensed to purchase and sell properties. 

CORPORATE VOICE > Jonathan Lyon, CEO, Burgan Bank Kuwait on the role of corporate governance in regional economic sustainability

 

 

Jonathan Lyon, CEO, Burgan Bank Kuwait

“If there are two lessons that one can learn from the US sub-prime mortgage crisis that triggered off what has now become a global financial meltdown with wide-spread ramifications, its (1) the increasing need for financial literacy amongst all sections of society, and (2) the need for strong corporate governance compliance by private sector players, particularly financial and banking institutions.

As both governments and investors rely upon increased regional privatization to create long-term returns and social wealth, the private sector players need to review, implement and monitor their financial accountability, transparency, internal control processes and systems, and risk diligence & mitigation more aggressively now than ever before. We need an independent/quasi-government regulator that will align the growth potential of the private sector with Corporate Governance guidelines stipulated by our Central Banks, our stock exchanges, the OECD, the World Bank, the Basel Accords and other globally accepted best practices. And while doing so, we need to bear in mind that the Arab economy is very distinctive in its composition and its revenue generation streams (for instance, in Kuwait, SMEs account for close to 80% of the country’s economic backbone) which present unique challenges and opportunities within which to tailor and implement relevant Corporate Governance measures.

We live in times which are challenging, but which still hold potential. Many of us are expanding into new regional markets. Many of us have been building a corporate reputation that attracts local and international investments. And as we build a stronger Arab region that will increasingly play a critical role in world economy; we need to consider more seriously Corporate Governance and Financial Literacy to ensure the benefit of all sectors of the economy and society itself.”

 

Jonathan D. Lyon is the CEO and Chief General Manager of Burgan Bank, which is amongst the leading commercial banks in the state of Kuwait. The Bank was recognized as one of the leading banks in the region to uphold sound corporate governance policies and best practices at the ‘Regional 2008 Bank Corporate Governance Award’ held by the Hawkamah Institute for Corporate Governance in association with the Union of Arab Banks. This is the second consecutive year that Burgan Bank has been conferred this Award; the previous year, it emerged as the winner of the region’s first-ever ‘Hawkamah UAB Bank Corporate Governance Award 2007’, having contended with over 40 banking institutions across the region for the coveted title. 

CORPORATE VOICE > Safa Al Hashem, Founder, Chairman & MD of Advantage Consulting Kuwait on the potential of the private sector

"The dream of yesterday is the hope of today and the reality of tomorrow": Safa Al Hashem

 

 

 

“There is no doubt that the private sector has brought about prosperity and development of the economy as well as our society. Even as we pass through trying times with the global financial meltdown the Private-sector corporations still contribute significantly to our economy.

The private sector’s involvement in economic development can take many forms, from major multinationals to small and medium enterprises (SMEs), and range across a wide diversity of sectors, including manufacturing, agriculture, and the industrial sector.

As we cruise through the 2008 global economic turmoil, it has become more obvious than ever that the private sector is the only solution to making our way back to stability. And this can be achieved through transparency and implementation of good Corporate Governance. Corporate Governance has to assume a much greater significance in the private sector now to encourage a culture of transparency and accountability.

The private sector has to increase its focus on its Corporate Social Responsibility (CSR) initiatives as well. CSR spans the three pillars of sustainable development – economic, social and environmental – and encompasses a vast field of voluntary action by business. CSR is about responsibility, not just compliance. If, in this way, CSR is conceived as a means of self-regulation by business, it can help minimize regulatory burdens for business and narrow the gap between the society and the private institutions. 

In the current global scenario, the private sector has to play a major role in building a more durable, integrated financial system by developing a strong foundation for successful crisis resolution. We need to develop a mature market, which is based on stable relationships among players and through initiatives to call for values of good governance, transparency and cooperation. While doing so it must also be ensured that practices adopted be continuously reviewed.

By taking an initiative in implementing necessary policies and enhancing core capabilities by encouraging executive education and on the job training, the private sector can lead the country into economic and social development and elevate the standard of living.

Finally and most importantly, private sector should invest in the younger generation. This should be in the form of training or setting up intermediary organizations where young, talented youths should be trained to take up the mantle of businesses in the upcoming years. For this, private entities should form partnerships in support of this agenda to help more youth succeed financially, more skilled and to help employers find and develop a more qualified work force with this local talent.

Founder, Chairman & Managing Director of Advantage Consulting, Safa Al Hashem has over 22 years of experience in applying best practices to translate business strategies into attainable objectives at a micro-level and conflict resolution. She was recognized as the ‘Female CEO of the Year’ at the CEO Middle East Awards 2007 and received the ‘Businesswoman of the Year’ Award at the 7^th Middle East Businesswomen and Leaders Achievement Award held by the Middle East Excellence Awards Institute UAE in 2008. She also features on the list of prominent women personalities identified by Kuwait’s Parliament Committee on Women’s Affairs. The Arabian Business Magazine also listed her as amongst the GCC’s top 100 executives. A Kuwait University graduate (BS in English Literature), Safa also holds an MBA from the University of Southern California. She is a Certified Organizational Development Specialist and a Certified Targeted Selection Interviewer.