Digital technology must be adopted for Arab economic growth, says chairman

(File photo: Jordan News)
AMMAN — Hamdi Al Tabba'a, the chairman of the Amman-based Federation of Arab Businessmen (FAB), recently called on Arab countries to adopt modern development strategies that prioritize growth through the use of advanced technology in production processes. اضافة اعلان

According to the Jordan News Agency, Petra, he discussed the need for regional development initiatives and urged Arab governments to focus on specific priorities to enhance economic growth and development.

Regional development strategiesThe chairman emphasized the importance of ensuring food security and strengthening the strategic stock of basic food commodities to combat climate change repercussions and food-price fluctuations.

He also stressed the need for investing in digital technology to digitally transform the Arab world and improve human capital by enhancing skills, education, and keeping pace with regional labor market developments to reduce joblessness.

Digital technologyTabba'a further emphasized the need for Arab countries to adopt economic and financial strategies that enhance the efficiency of managing public money, diversify income sources, and promote sustainability.

He said such strategies can help strengthen financial systems and regulate financial institutions, banks, financial markets, insurance companies, and exchange shops, reducing their vulnerability to external shocks caused by financial and economic crises in the world.

Reducing external shocksTabba'a went on to say the Arab world needs also to focus on implementing development projects, particularly those between the public and private sectors to enhance economic growth and sustainable development goals as well increase reform programs for economic diversification, support their export sectors, and increase product Arab competitiveness to compete globally.

He ended by saying the Arab business community plays an important role in providing jobs, employing local labor across the region, creating-investment-based job opportunities, advancing the Arab economy, improving infrastructure and achieving sustainable development.

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