Page 41 - Trends

CONFERENCE SESSIONS

THE EXECUTION CHALLENGE MOVING AWAY FROM BUREAUCRACY MAINTAINING MOMENTUM

New projects have emerged in the GCC, creating high hope Centralized government, red tape and bureaucracy For decades, the GCC and the Middle East have suffered
for investors and businessmen in the region and abroad. have always been a constant problem in the Arab from a poor image in the West. Often associated with
Plagued by bad track records on delivering on its promises, world. Is a transformation at the administrative level, terrorism and extremism, few Arab countries have been able
the region and Saudi Arabia need to tackle the implementation coupled with blockchain, facial recognition, crypto- to break this image. What should the Gulf and the Middle
challenges. Which fundamental changes should be made to currencies and other new technologies a solution to East do to maintain the momentum and build on the positive
achieve success in mega-projects? Can human capital make drive the transformation of public services towards a image that business and transformation are reflecting? Do
the culture leap? How have other countries in the region technological environment? How can this transformation they need to invest the same efforts to change their images
overcome this execution challenge? be achieved? within the region?

THE SOCIAL MODEL THE PRIVATE SECTOR A NEW ERA

With strong community ties, the Middle East has relied Marginalized and depending on governmental and official By disrupting unproductive rents, Arab countries have
on family support when the state could not fill the gap. good will, the private sector needs effective policies preserved social order. Strict rules restrict the movement
Extended families operated as the safety net. With the to prosper. The ongoing changes aiming to liberalize of goods, people and capital; behind behind-the-border
gradual withdrawal of the state and openness of economies economies in the GCC though privatization, competition barriers that generate trade frictions are more pervasive.
and competitions, an already degraded situation could only and open economy will tilt the scale and change the We take a closer look at the region’s restrictive, resource-
get worse. To solve this social hardship, the Middle East balance. How can the private sector create a positive force rich, labour abundant economies and ask if the model
needs to develop a social safety, inspired by European of change in society? encourages sustainability and growth or marginalization
systems and suitable for the culture. and exclusion.

LEVELING THE PLAYING FIELD INTERNATIONALIZING BUSINESS LEAN AND MEAN

The transformation in the region will rely on removing The dramatic slowdown of 2015-2017 had an unexpected Restructuring businesses in the Gulf and the Middle East has
existing regulations and putting new ones in place. Two effect on businesses in the GCC: local champions who always been a challenge. Transformation of the corporate
of the missing regulations in the region are anti-trust relied on national governments had to change their culture started in 2015, with management empowered by its
laws and anti-dumping laws, which can allow leveling the directions. Following cost cuttings and restructurings, a shareholders to achieve the desired efficiencies and return
playing field. Why are new regulations necessary to help new era of internationalization started with businesses businesses to profitability. What can we learn from those
transform the region? Which regulations can help achieve looking for new markets far from their own turfs. turnarounds in environments in which community matters?
a great return and how can they be implemented? What are the dos and don’ts to achieve the right balance?

STARTUPS:
BEYOND VISION 2030 SECURING THE FUTURE
RETHINKING THE ECOSYSTEM

The Vision 2030 to transform Saudi Arabia has progressed Security in the GCC has become a paramount issue. From The region has embarked on a fast development of the
fast on the societal front. With women empowerment, cybersecurity and homeland security to outside conflicts, startup environment, with massive projects taking place in
the openness of society, which was unthinkable not the GCC needs to assert itself and its ability to respond Saudi Arabia, UAE, Bahrain and other countries. However,
long ago, has become old news. What about business to threats in a coordinated manner. However, how are with limited amount of venture capitalists ready to commit
transformation? Where is Vision 2030 taking local businesses dealing with this new cyberwarfare? Are they to new ideas and outdated legal frameworks, jobs of young
businesses? Which type of business transformation is prepared to defend themselves or will they be the weak entrepreneurs are closer to an obstacle course than a walk in
needed to achieve the Vision? link that falls first? the park. What are the urgent changes that need to be made
to help develop and anchor this ecosystem?