Saudi Arabia- GCF to stress responsible competitiveness 

(MENAFN - Arab News) The third Global Competitiveness Forum (GCF), which opens in Riyadh today, will discuss major economic issues, especially the global financial crisis and its effect on investment and small and medium companies, organizers said.

More than 100 world leaders including former Malaysian Prime Minister Mahathir Mohamed, Shinzo Abe, former prime minister of Japan; Carlos Ghosn, president and CEO of Nissan Motor Company; and Mary Robinson, seventh president of Ireland, will speak at this international gathering.

Other prominent speakers are: Abdullah Zainal Alireza, minister of commerce and industry, Paolo Coehlo, renowned author; Timothy Shriver, chairman, Special Olympics; Thomas Enders, president and CEO of Airbus; Nandan Nilekani, executive co-chairman of Infosys; Mohammed Al-Mady, vice chairman and CEO of SABIC (Saudi Basic Industries Corp.); Thomas Russo, vice chairman, Lehman Brothers; and Paolo Scaroni, CEO of Eni SpA.

Amr Al-Dabbagh, governor of Saudi Arabian General Investment Authority (SAGIA), the main organizer, said the forum would be based on the theme entitled "Responsible Competitiveness," which is essential for the world to confront future economic challenges.

He said the theme would cover critical topics in social development that encourage the national competitiveness agenda. "It balances and combines economic and societal needs to build sustainable, profitable and responsible business," the SAGIA chief said, describing GCF as the second largest economic grouping in the world after Davos. Twenty panel discussions will take place during the three-day event.

The GCF, which is held under the patronage of Custodian of the Two Holy Mosques King Abdullah, comes at a time when the International Finance Corporation of World Bank ranked Saudi Arabia among the top in its "Doing Business Report 2008," in terms of investment environment throughout the Middle East and the Arab World.

The Kingdom was placed 23rd out of 178 countries in the 2008 report vis-à-vis 38th in 2007 and 67th out of 135 countries in 2005. Similarly, the Kingdom figured among the top 10 countries in the world in terms of economic reforms between 2006 and 2007, the World Bank report said.

During the event, economic experts from Saudi Arabia will present papers highlighting the measures adopted by the Kingdom to gain competitive edge in the market. The event will also provide an insight into investment opportunities in Saudi Arabia for local and international companies.

Abdulmohsen Al-Badr, chief executive officer of GCF, said the winners of Khalid Awards For Global Competitiveness would be announced during the event. The Top 100 companies that have performed well in terms of growth will also be announced during the forum.