Arab Today, arab today infrastructure investment key to tackle unemployment crisis
Last Updated : GMT 13:12:36
Arab Today, arab today
Arab Today, arab today

2.5m additional jobs could be created annually across region

Infrastructure investment key to tackle unemployment crisis

Arab Today, arab today

Arab Today, arab today Infrastructure investment key to tackle unemployment crisis

CEO of Crescent Petroleum Majid Jafar
Amman - Arab Today

Majid Jafar, CEO of Crescent Petroleum and a member of the Global Agenda Council on the Middle East and North Africa at the World Economic Forum, highlighted that strategic infrastructure investment plays a critical role in supporting much-needed growth and development in the region in order to tackle the major challenge of youth unemployment.

Speaking alongside former British Prime Minster Gordon Brown and the Vice Chairman of GE, Mr. John Rice, on the Plenary Panel entitled “Infrastructure for Development” on the final day of the Forum’s MENA Summit at the Dead Sea in Jordan, Mr. Jafar described the key drivers of strategic investment into regional infrastructure, with a particular focus on power generation, regulatory challenges, and the role and duty of the region’s private sector companies in partnering with governments in solving the infrastructure challenges of today, and creating the jobs and prosperity for tomorrow:

“The key regional social and economic challenges – especially demand for jobs for young people – require new era of public-private partnership in infrastructure to support the over $100 billion needed for investment and maintenance each year in the MENA region.”

With youth unemployment rates rising in the region to 29.8% in 2015, Mr. Jafar stated that for every $1bn invested in the region on infrastructure, over 110,000 jobs could be created in the oil-importing countries, or 26,000 jobs in the GCC, or 49,000 jobs in developing oil exporting countries. Annual spending needs of $106 billion includes $46 billion of new investment and $59 billion of maintenance, and by meeting the investment needs, according to the World Bank, the MENA region could generate 2.5 million additional jobs.

Seeing infrastructure development as essential to provide the millions of jobs needed in a young and growing region, providing hope, stability and livelihoods, and encouraging entrepreneurship, Majid Jafar stressed the gap in such investments in the Middle East region compared to other developing regions:

“On average across the MENA Region, about 5% of GDP is allocated to infrastructure, whereas the proportion in China is three times higher at 15%. Tackling energy subsidy reform in our region can free up hundreds of billions of dollars for productive investment that will lead to more jobs, higher standards of living, and stronger economic competitiveness for our region’s future,” Jafar added.

The Infrastructure Development plenary and the World Economic Forum MENA 2015 Dead Sea Summit brings together over 1,000 leaders from government, business and civil society, to evaluate solutions to some of the defining regional issues, and the shared economic, social, environmental and geostrategic goals which will require multi-stakeholder approaches.

Held at the Dead Sea, Jordan, from 21-23 May 2015, The World Economic Forum on the Middle East and North Africa has as its theme ‘Creating a Regional Framework for Prosperity and Peace through Public-Private Cooperation’, including sessional tracks on Transforming Employment and Entrepreneurship; Transforming Geo-economics and Geopolitics; Transforming Governance and Institutions; and Transforming Industry and Competitiveness. The delegates held numerous sessions to integrate on-going, impact-oriented initiatives such as the New Vision for Arab Employment, Arab Economies in Transition and the Global Strategic Infrastructure Initiative.

    

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today infrastructure investment key to tackle unemployment crisis Arab Today, arab today infrastructure investment key to tackle unemployment crisis

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 12:27 2017 Friday ,24 March

Democrats press Trump SEC nominee

GMT 21:20 2017 Thursday ,23 March

CBI sells more than $164m

GMT 19:19 2017 Wednesday ,22 March

Saudi Labor minister amends "Netaqat" program
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 15:06 2017 Saturday ,25 March

Dialysis Supplies Dwindle for Syrians

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday