Tuesday, February 26, 2008

Final Words JEF 2008

Budoor

It is not a day I wanted to come as quickly as it did, but it has. Today is the last day of JEF 2008. I can say that it is a wonderful ending for my first ever JEF. There has been tremendous business and abounding discussions which provided solutions for a bright future in order to develop wealth and strengthen partnerships in Jeddah, Saudi Arabia and the surrounding region.

In this post, my intention is not to add much more than what my colleagues have already said. As my colleagues expressed much of my passion about what we heard; starting from the introductory session and ending with the two final closing sessions.

I thought a lot about what I wanted to say today and it has come to this: We should first thank security for their great work and their sincere effort that they have done in organizing this forum, which has made it as successful as it is. Also, special thanks goes to the participation of the ladies working with the aurally challenged and the great attention that was paid in using sign language throughout the forum which I felt was a marvelous thing.

Finally, all what I want to say that I am so proud to be a part of this wonderful occasion. And I feel even prouder to be witness to the extent of many women advancement in intellectual thinking, culture perspectives, and economical development.

To JEF, for giving us the opportunity to be a part of this great event, Thank you.















Overlooking the entry way

Final Comments



Dina Ismail


I would also like to take this final opportunity to commend the organizers of JEF ’08 on what was an unforgettable and educational three days. It was unlike anything I have ever seen before and I can only hope to be invited back next year.

A great end to an unbelievably productive and eye-opening three days . . . we’ll have to see if JEF 2009 can top it!


Final Thoughts


Fahad



Well in summary, there were many important topics that were elaborated during this year’s forum that could actually be defining factors for our society. It was quite a ride. I’m sure all the people who attended JEF gained some knowledge. I know I did.

Full of glamour and glitter the event was with out a doubt a success. The movers and shakers from within the country and outside played their part very impressively. JCCI did quite a decent job, but the entire event would have been colorless if it wasn’t for their strategic partner -- “Effat College” for all their hard work and unconditional support making the event an even bigger hit.

Before I say good-bye, I want to mention some names of the people who contributed enormously to the success of this component and starting the idea of adding a BLOG. They are Dr. Haifa the Dean of Effat College; Dr. Rania the Vice Dean for Student Affairs; Ms. Lisa, Coordinator of the Independent Learning Center; Dr. Emet the Director for Information and Educational Technology Services; Mrs. Alaa Sindi, Student Affairs Assistant; and of course all my fellow contributing committee members.

I appreciate the very devoted (and hopefully the future leaders of the world) young men and women responsible for writing this BLOG. It was marvelous working with all of you and I shall not soon forget it.

Till next year good luck and be well!


JEF 2008 BLOG team in action


Reflection JEF 2008


Diaa Bugis



This is the last day of a wonderful event in the business domain.

Honestly, I am a little bit blue because of the fact that I will have to attend classes tomorrow at CBA instead of returning to the exhibition center (no I am just kidding). But I do have to say that it has been quite a fabulous event.

Tomorrow I will return to normalcy. I will not get up in the morning and go to the Jeddah Exhibition Center; I will not go through the layers of security; I will not see John Defterios, Alastair Stewart and other famous speakers; I will not witness the incredible talents of organizers such as "the deaf club"; and lastly I will not have the chance to take a tea break with so many options of tea as provided by Teayana; nope tomorrow will just be an ordinary day.

All these unforgettable memories were what I experienced in JEF.


JEF 2008 BLOG Team


Session Five (Part 2) The Socio-Economic Link: The Double Helix of Life


Diaa Bugis, Chief Editor
Ahmed, Fahad, Noufal, & Thamer; Contributing Editors


This morning I came earlier than previous days, that is because I am responsible for writing the review on Session 5. I am so enthusiastic about this session which talks about “The Socio-economic Link: The Double Helix of Life”.

John Defterios (an anchor for CNN), began with the greetings and explaining what will go on in the session and the importance of labor and human capital. John said that economic development should go through education and training. After that Johen introduced the first speaker which is Sheikha Lubna.

Sheikha Lubna, UAE Minister of Labor, talked about how the UAE is taking the social economic development issues more seriously and establishing a long-term strategy to enhance the educational system. Also, Lubna focused on the training and development of human capital.
Next speaker was HRH Prince Bandar Bin Khaled, Al-Faisal University, taking about his 10 years experience with the King Faisal Foundation. He began with an introduction of community King Faisal and what they accomplished. Some of the projects they have worked on are the King Faisal Model Village (Al-Habala), the King Faisal Scholarship, the King Faisal Center for Research and Islamic study, Effat College and so on…

HRH Prince Bandar believes in a guarantee to provide education for all classes of society leads to a fulfillment of the goal of investing in human capital.

Also, he said "we have no problem at all with importing employees from abroad, but at the same time we want to qualify and develop Saudi citizen to work in the new seven economic cities".
Finally, he said “human creativity is the unlimited economic resource” and “education is the agent of change toward human development”

After a short tea break, we came back with the discussion panel featuring Mr.Andreas Schleider, Dr. Mona Mourshed, Dr. Blair Sheppard, Dr. Ghazi Bin Zager, and Dr. Haifa Jamelallil.

They discussed the issue of “Learning: How to Develop Human Capital”. Some of the topics covered were how our educational system can make a different from others, how an individual can make a big difference, and changing the environment to become a better place.
I noticed in this discussion that they all agreed that "change" can make a difference.

"Teachers" (better qualified, educated, and trained) are one of the key factors that have to be changed in order to advance education.

After the panel, Dr. Ghazi Al-Gosaibi, Saudi Minister of Labor, came to speak to us.
Frankly, I would not have expected this man to be in a position of a Minister (government official), because he joked and laughed with us and a smile never left his face (I always thought a Minister had to be serious all the time).

Dr. Ghazi talked about the importance of training. He said that most successful training programs derive from the partnership between the government sector and the private sector.
Dr. Ghazi also, mentioned that training in KSA started very late in 1970s, at which time there were only 100 students studying in technical schools. However, currently there are 95,000 students in theses schools, and the target goal of Dr. Ghazi before he retires is to have 1,000,000 trainees in these training schools.

Finally, Dr. Ghazi surprised the crowd by honoring the physically and mentally challenged and providing jobs for them.

Unfortunately, I did not see Dr. Khaled Al-Ankari the Saudi Minister of Higher Education because I prepared a question for him. Anyhow, in my opinion there are some problems in our educational system in KSA.

The emphasis in education for me is how come now that we are in the WTO there are students from some universities (with a focus on business administration) that have no linguistic skills. These are skills vital to communicating and interacting with the external world. Although I did not hear a reply to this in Dr. Khaled address but I would like to know what are the plans of The Ministry of Higher Educational to improve and develop the educational level in KSA? As I wrote above that I was unlucky I couldn't ask him, I though better luck next time!!!!! However, maybe I will be lucky and he will read my BLOG and post a comment.

Last but not least, chickens are jumping in my stomach, I'm feeling very hungry and I am going to fill my tummy. So, wait for the next session. Till then bye and t.c…cya…

Session Five (Part 1) - " The Socio-Economic link : The Double Helix of Life"

Budoor, Chief Editor
Ragahd, Eman, Dina, Hatoon, & Rama; Contributing Editors

Mr. John Defterios was the host for the fifth session which was about “The Socio-Economic link: The Double Helix of Life “, he introduced the guests for today after presenting abstract about the main thoughts and topics to be discussed.

Sheikha Lubna Al-Qasimi was the first speaker. Her speech was brief but comprehensive.
And what was special about her remarks was that she focused on education as a long term solution for many issues that we’re going through. I really praise Sheikha Lubna for participation here (although you might think I am being bias). But as a woman, I have the right to notice this remarkable woman, pay tribute to her effective participation, and be proud of her.

Next was prince Bandar bin Saud ,Chairman of the Executive Board Al-Faisal University, he spoke about his own experience in the education field and asked both private and government sectors to cooperate in financing and supporting the education sector. We hope they will do just that because there will be no economic and social growth without it.

Following was Dr. Soliman Abdel Moniem, (Arab Thought Foundation Secretary General), he compared Internet use between countries, publication of books, number of doctors, and spending on education. He used statistics to support his arguments. His speech lacked the excitement and might not have attracted as much attention as others. I even started to visualize figures revolve around me. But, his contributions of course were notable.

After that we saw a video presentation for the exchange students which included the advantages and disadvantages of education they face in their countries.

Since the effect of morning coffee began to disappear, I am definitely glad for the “teayana” break time .

After a comforting break we returned to the discussion panel moderated by Mr. John and it was about ” Learning : How to Develop Human Capital “ ,which included, Mr. Andreas Schleicher, Head of the Indicators and Analysis Division of the OECD Directorate for Education, Dr. Mona Mourshed, Partner with McKinsey & Company’s Dubai Office, Blair Sheppard, Chair of the Duke CE board of directors and the Dean of the Fuqua School of Business, Duke University, Dr. Haifa Jamal Allail, Dean of Effat College, and Dr.Ghazi Binzagr, Binzagr Group of Companies. I think they all were talking about the same idea which was about professional teachers and how they can affect the quality of education.


Our last guest for this session was one of my favorite speakers. For those who do not know him well he is a university professor, minister, ambassador, poet, novelist and writer. I hope you know who I am talking about, yes, he is Dr.Ghazi Al-Gosaibi. His presence and his sense of humor had an affective impact on the attendance. And in my opinion he succeeded in attracting attention. In his speech, he mentioned the technical school and how we are doing better than we think, but still are behind in more than we planned. Dr. Ghazi also he thanked Mr. Abdul Al-latif Jameel for his community business programs. I read a lot about Dr. Ghazi and I expected to see a somewhat stronger or more serious character but I was pleasantly surprised to find an example of a tender father in his defense of the Saudi youth and his believe in their capabilities and their potential if they are given the right opportunities.

By that we arrived to the end of the 5th session of JEF, which was a remarkable one.

I think there is one point we’re all agreed on it that economic growth can be achieved only through scientific and social development and building human capacity as a fundamental and important element in the economic equation.

Session Six (Part 2) - Landscaping The Future: Who Should Take The Lead


Fahad, Chief Editor
Diaa, Thamer, Noufal & Ahmed; Contributing Editors

What a wonderful city Jeddah is, full of life. There is always something happening that separates this city from the crowd (not your ordinary city) and makes it so ostentatious. And JEF is one of the big attractions but sadly it’s the last day of the event.

It’s the final 6th session and it started with same level of commotion & uproar as the first day of the event. Alaistair Stewart the moderator started the conference by outlining today’s theme which is, “LANDSCAPING THE FUTURE: WHO SHOULD TAKE THE LEAD?”

There was an unexpected but gratifying surprise in store for everyone. As HRH Prince Khalid Bin Faisal arrived to join us in JEF, with a grand entrance. HRH Prince Khalid was there to give away the first ever JEF Award to NCB for their efforts in benefiting the dynamics of the society. A few other awards were also given which were of the same nature.

Next agenda was Dr. Hayat Sindi, a visiting scholar, from Harvard University, a very intelligent lady indeed making the entire nation proud by her international achievements. She is the first woman in Gulf to receive a PhD in biotechnology. She spoke about her new company with Professor George Whitesides and others. The new company is called Paper Diagnostics Inc (PDI). PDI is a for-profit company, with non-profit objectives. She talked about the different area’s concerning education and believes that educating one-self should not just be about finding a job with a lush office and a handsome salary but, leaving university with the intent of being able to provide skills training and creating jobs for others. Be leaders and not followers to put it short.

This was followed by a panel discussion that included Mr.Saleh Turky, Sami Bharawi, Our very own Dr.Haifa, Dr. Ghazi Binzagar, and Dr. Mona Mursheed. Basically, the discussion surrounded how education influences our lives, the positive and negative affects of different characteristics and trends in education. Also they discussed the elements that are wrong in our system when delivering this extremely important and valuable product (education).

One of the key factors towards making a change is “accountability”. If we move in this direction perhaps more things will start falling right into place. This requires shifting from a system based on inputs to one based on outputs, but making this shift is a monumental task. Of course the end result could give us the flying colors that we are looking for. I really enjoyed Dr. Haifa’s comments; the points she stressed were not only critical but essential if we desire a change.

The highlight of today’s session had to be Sir Richard Branson who needs no introduction, a well known figure by all. I think there is no fixed meaning behind the term success as everyone’s perception of success is different. What makes one successful? Is it having a million dollar sports car or a mansion with a golden bathtub or the girl of your dreams? Some could consider success all these things but others may think the opposite. But when the founder of the Virgin Group name is mentioned all shall agree. His name appears in books and whenever there is a talk about top ‘entrepreneurs’ his name pops up. The man has grown from a single shop on Oxford Street to owning his own airlines, record company, healthcare foundations and the list goes on and on. He even lives on an Island owned by him.

He was here, looking sharp as ever and talked about how to be a leader. He spoke about what motivates him to do what he does, the satisfaction he gets from helping others, and how every business should be involved in not only furthering their own interests but working towards mutual gain. This means making money while not tearing down the fabric of society but also contributing to building and maintaining the essence of society.

Let’s be honest here for a second. When anybody starts a business they get into it for all the superficial things (money, cars, travel, power) those are generally what some say really matters.

As time passes and you have achieved all that you set out to do perhaps you are in a position to make a difference. This is when it would not hurt for you to start taking steps towards innovating, creating value, and helping others. Basically, at the end of the day there is more to life then just buying something for a dollar and selling it for two.

Before I end, I just want to say that in this year’s event my three favorite speakers were HRH, Prince Turki (a real man of substance), Richard Branson (a true prodigy in the business world), and the phenomenal Professor Mohammad Yunus.

Session Six (Part 1) - Landscaping The Future: Who Should Take The Lead


Dina Ismail, Chief Editor
Budoor, Eman, Hatoon, Raghad, Rama; Contributing Editors

As the JEF drew to a close, the hall at the Jeddah International Conference and Exhibition Center filled for the last time. The audience slowly trickled into the dimly lit hall as the one of a kind Alastair Stewart paused, (presumably for dramatic effect) and directed this thought-provoking question to the audience: ‘Who will be the individuals that recast our future….?’

This is Session 6 of JEF 2008 and the theme is ‘Landscaping The Future: Who Should Take The Lead?’

Although confused by a somewhat inaccurate program, the audience was happy to be introduced to Mark Selby, VP of Industry Liaison and Collaborations at Nokia.

To be blunt, I was a bit perplexed by the topic of Mr. Selby’s presentation, which although was extremely interesting, seemed to be focused on the research efforts of Nokia in order to meet the demand from different market segments. It was an engaging speech but left this reviewer wondering how it was relevant to the session’s theme.

At the conclusion of Mr. Selby’s speech, the audience was awed into hushed whispers at the arrival of a surprise visitor… His Royal Highness Prince Khalid Al Faisal appeared, as if by magic, surrounded by his entourage, and immediately captivated the hall with his presence.

Alastair Stewart introduced HRH Prince Khalid, a man renowned for his intellectualism and poetic skill, and invited him on stage in order to present the award for an outstanding example of Corporate Social Responsibility.

The winner, Abdullah Bahamdan, Chairman of the Board of NCB, made his way on stage to receive this great honor to the accompaniment of great fanfare and applause from the audience. Madame Olfat Kabbani, of the JCCI, made an eloquent and charming speech about the role of banking institutions in developing a sustainable economy from all aspects.

The next speaker, Dr. Hayat Sindi, a visiting scholar from Harvard, faced the daunting task of speaking after the prize ceremony. A petite and prepossessing woman, Dr. Hayat urged the nations of the Middle East to ensure that ‘science and society went hand in hand’ for a more prosperous future as well as encouraging individuals to ‘break boundaries.’

As a highly educated and self-motivated Saudi female who is obviously passionate about her discipline, Dr. Hayat perhaps put it best when she stated that, ‘Innovation cannot lead on it’s own. We must lead innovation.' This remarkable individual demonstrated by her example to young women across the Kingdom that dreams are achieved every day.

The panel session was next and included several distinguished speakers, including Dean Haifa Jamal-Al-Lail, Dr. Qazi Ben Zagr, and eminent figure in the Saudi business world, Mr. Salah Al Turki. The panel consisted of media-based questions, in a Q&A format.

After yet another tea break, the crowd waited with bated breath for the much talked about speech of the one and only Sir Richard Branson. Amongst such dignitaries within the Saudi royal family and economic mavens such as Allan Greenspan, Sir Richard Branson’s celebrity status was much anticipated, particularly amidst the younger crowd.

As if to prolong the suspense, before bringing out Sir Richard, Alastair Stewart introduced a unique and astonishingly entertaining activity involving sharks, fish, and color panels provided by CineMatrix. Sound strange? Guess you had to be there. Suffice to say that it was a suitable team activity for an audience that has experienced the wonders of JEF together for three days. In order to introduce Sir Richard, who had recently completed a successful leg from London to Amsterdam entirely on bio-fuel, the audience also participated in a harrowing collaborative aviation activity.

And finally, it was time for the last speaker of the JEF. Introduced by Alastair Stewart as an ‘incurable adventurer’, the audience was treated to a brief video describing Sir Richard Branson and his internationally renowned brand, Virgin. Looking completely comfortable while being put on the spot in an informal Q&A session with Alastair Stewart, Sir Richard described his visit to Saudi Arabia as ‘a delightful twenty-four hours.’ He also discussed his experiences and talked about the developing relationship between the business class and the government

Bringing a touch of glamour to the fascinating, yet at times pedantic, JEF, Sir Richard was a breath of fresh air and an excellent way to end the Jeddah Economic Forum 2008 with a definite bang.

One may read this review and wonder what this diverse, seemingly unrelated group of speakers has to do with the theme of this session. However, the juxtaposition of ‘big government’ manifesting itself in HRH Prince Khalid Al Faisal, with the quintessential example of successful entrepreneurship, Sir Richard Branson, in addition to intellectuals such as Dr. Hayat Sindi, showed the audience that in the quest to landscape the future, the private and public sector will be moving hand-in-hand to take the lead and to create an economy that can be categorized as both sustainable and prosperous.

Monday, February 25, 2008

Session Three (Part 2) - From Boom to Prosperity


ThamerAl-Haddad, Chief Editor
Noufal, Diaa, Ahmed, Fahad, Contributing Editor

Wow! This is about the best word I could find to describe this powerful and overwhelming session!

The deep sophisticated in which the speech on macroeconomics was given by the great Dr. Alan Greenspan, the former Chairman of The Board of Governors of The Federal reserve of the United States, provided the audience with a wealth of information (even though it was pretty complex).

The Nobel Peace Prize Recipient, Professor Muhammed Yunus, who gave one of JEF 2008's most inspiring and powerful speech. Surely, I will never forget his words, coming from a very modest person who earned a standing ovation from the audience (which witnessed some tear shedding as well).


Our very own Fahad with Dr. Yunis

Or all the other interesting speakers with their amazing facts and statistics that have generously been enlightening.

Let me just try to summarize due to the ton of information given in this session.

The session started with Dr. Alan Greenspan who was introduced by Dr. Mohammed Al-Jasser, Vice governor of SAMA.

Dr. Alan mentioned that resources are very important to every nation, and Saudi Arabia is dominated by a huge resource oil. However, unless the oil boom goes on forever (maybe), other resources that create wealth and enhances economic growth. But, he advised it does require that risks have to be taken.

Commenting about the currency, he said that what’s critical component about the rise of currency for KSA is that non-oil products are going to have a very hard time competing world wide.

Dr.Allen concluded his part of the session by stressing the importance of economical growth.

My colleague Fahad got some comments from a guy in the audience, Mr. Umar Abdulsalam of the English language service of Radio Jeddah. He said that the economy must include income producing channels from the young students and graduates from the universities. Mr. Umar was also was impressed with the JEF 2008 attendance of more young students and young business men and women than previous years.

Dr. Mohammed Al-Jassar took the stage after that and discussed a little about macroeconomic framework and how boom itself cannot achieve authority.

Following him was Mr. Jim O’neil, of Goldman Sachs. He talked about some interesting statistics on world economy and how he predicts it would be like in 2050.

During the tea break (after Mr. O'neil speech) I met up with the team from What’s up Jeddah magazine. I asked about how they found the forum this year. They complimented the organizing committee and how big the place was in comparison to last year.

Anyways, when we got back to the next session, Mr. David Lewis the Lord Mayor of London talked briefly about the concepts of prosperity which from his own personal view were:
Diversification, Education, Innovation and partnership.

And at last but not least, Professor Mohammed Yunus, Grameen Bank founder stepped up. His speech was tremendously amazing. He reached the hearts of everyone in the crowd.

Professor Mohammed started off by explaining how Grameen Bank was founded. He talked about the method he used to run his bank. He examined the way conventional banks regulations and rules and then he simply did the opposite! (The hall was filled with laughter).

He said that the society has to give poor people a chance or else the society itself is responsible for poverty.

He also issued that there should be two kinds of businesses. Business to make money and businesses that are dedicated to helping others.

He mentioned that charity dollars never come back and die right away, but social dollars have endless lives.

His main goal is to make poverty forgotten all around the world and by that he doesn’t mean the third world only. He joked that he wants to put the word poverty in a museum for future generations to see.

I think this is the best speech of JEF 2008 so far. I couldn’t stop overhearing another guy passing right by me saying that he heard about Professor Mohammed before, but he didn’t know realize how fascinating he was. I was touched just like many of the other people in this hall were.

I think this session really set a high standard for all the other sessions to beat. For those of you who missed this session, you really missed out on a lot of excitement.

Stay tuned for the next blogs form my very hard working colleagues.
But until then . . .

Sayonara!

Session Four (Part 2) - Energy: Alliances of Horses and Forces




Dina Ismail, Chief Editor
Budoor, Eman, Hatoon, Raghad, Rama; Contributing Editors

After a particularly spirited morning session, the highlight of which was Nobel Laureate, Professor Mohamed Yunus' speech, I wondered whether the afternoon session, the theme of which was 'Energy: Alliances of Horses and Forces', would be able to re-energize (no pun intended) an audience experiencing a visible mid-afternoon slump.

Introduced to the session's theme by an eloquent John Defterios, the audience was definitely given an energy boost while they were told about the diverse alliances undertaken by energy corporations throughout the global community.

This international feel was reflected in the diversity of the session speakers who were all from a variety of countries and backgrounds as well as their speaking styles.

The session began with a speech given in Russian by Mr. Aslakhanov Aslambek, Advisor to the President of the Russian Federation, who urged world leaders to renovate present 'energy infrastructures' as well as to reduce energy consumption in industrial areas.

He also called for a multilateral coming together of world leaders to solve what he called, 'the energy problem.

In contrast, the much more anecdotal Peter Robertson, Vice-President of Chevron, whimsically described the beauty of Jeddah and the strategic alliances of the U.S. and Chevron with Saudi Arabia.

Robertson also talked at length about the need for a coherent and organized approach to alternative energy solutions and reduction of CO2 without compromising industrialization and 'economic disruption.'

It would be remiss not to mention that a large part of Robertson's speech revolved around and stressed all of the various ties of friendship and cooperation between the United States and Saudi Arabia, and was even concluded with an old Arab proverb.

Dr. Ali Reza Attar, the Deputy Foreign Prime Minister of Iran, was the next speaker and gave an unique view of the energy market from the somewhat controversial Iranian perspective.

As OPEC's second largest producer of oil after Saudi Arabia, Iran's stance on the alliances of energy producers and energy consumption was not to be missed.

Next was Mr. Khalid Al Yahya, President of Middle East & AsiaCapital Partners (MAP). Mr. Al Yahya expounded upon the alternative energy capabilities of Asian nations.

He encouraged a shift to a 'clean energy future' and praised the efforts of GCC countries in contributing over $400 million dollars in climate change research.

His was an interesting commentary on the capabilities of so called developing countries investing their efforts in a future where clean and sustainable energy is the norm rather than the exception.

All in all, I would have to categorize 'Energy: Alliances of Horses and Forces' as among the more serious of the six sessions of the JEF. It was interesting to note that although the speakers were from varied backgrounds and disciplines, the core message of the session was cohesive; the search for alternative energy supplies and its relationship to sustainable development in world economies can only be achieved through cooperation and alliances, both on an international as well as an individual basis.

Session Four (Part 1) - Energy: Alliances of Horses and Forces


Fahad, Chief Editor
Diaa, Thamer, Noufal & Ahmed; Contributing Editors

The lights are on and the carpets have been rolled out. It’s the second day of the most spectacular event of the year, Jeddah Economic Forum. The guest list includes the most prominent names from the political & business world who all are trail blazers in their own way. As the crowd is gathering after yet another gourmet lunch, the noise from the conversations and laughter takes a toll over the entire room.

It’s the 4th session and the theme is, “Energy: Alliances of Horses and Forces”. Alastair Stewart takes on the stage once again and greets & delivers the opening speech of the session. As he talks about the different issues concerning energy, I’m sipping on my cup of chilled orange juice sitting on my chair and couldn’t help but wonder, about the speakers for taking time out and being here to show their willingness to work together and make changes for a better tomorrow. People do care.

Eric S. Maskin, from Institute for Advanced Study, it was his turn to enlighten us with his words of wisdom. A very dignified gentleman, he focused on globalization & its effects on different countries. Over the years its well known that globalization has expanded at a massive level. We all happen to be in different places geographically but have access to commodities that are being produced in say Spain & are available to consumers in a small town in Pakistan. The benefits of globalization outlined by him were declining costs such as transportation and communication. It has lead to prosperity in developing countries e.g. China & India. He also mentioned the reasons to why countries trade. Due to the factors of production, such as labor may be cheap in one place for producing rice than in another.

Next was the respectable Abdula Dabbagh , the President and C.E.O of Maaden, who talked about the economic diversification and the challenges they face in order to achieve the desired magnitude which is necessary for fully utilizing the potential they have.

He also spoke on S.A being a member of the WTO and how they are more open to trading and business practices. Also elaborating on the mining and mineral industries and how to use these resources and creating a web of alliances while using expertise in the up coming industrial projects. Other developments in S.A will include the introduction of a railway system which can be used for transporting raw materials etc.

I have noticed that people intend to worry themselves sick about problems that never materialize, and the ones that throw you sideways are the unexpected ones, perhaps the problems you chose to ignore or label them less-important. Saudi Arabia is the largest economy in the Middle East but that is not the shield that covers us from the obstacles we face or may face in the near future. Many energy experts say owning oil fields provides no real energy security. It does not cushion against a rising cost of energy.
Saudi Arabia is way too much dependent on oil but is on the verge of making changes.

The stage was then taken by John Defterious, Host, CNN. After his opening remarks he introduced the panel, which included, Peter J. Robertson Vice-Chairman, Chevron, Aslakhanov Aslambek, Advisor to the President of the Russian Federation, Dr. Ali Raza Attar, Deputy Prime Minister of Islamic Republic of Iran and Khalid Alyahya, Co-Founder & president, Middle East, Asia Capital Partners (MAP).

The session also included interacting with the crowd by asking for their views through a voting panel which kept everyone interested.

They discussed different issues relating to energy, including the high demand for energy, consumption and the E.U energy market.

Despite the fact that Saudi Arabia showed strong economic performance due to high oil prices, increasing oil production and export earnings, the shift is still very compulsory for becoming an energy leader because the never stopping demand could lead to drastic shortfall in supply. This could easily end in a serious energy crisis situation.

Keeping an optimistic view after all that has been said and done, from bringing out the major highs and manic lows, surrounding the hot topic of Energy lets hope that the world can find itself that fat cozy cushion to fall back on when there is not enough oil to quench everyone’s thirst.

Session Three (Part 1) - From Boom to Prosperity


Ragahd, Chief Editor
Budoor, Eman, Dina, Hatoon, & Rama; Contributing Editors

As the second day of the forum comes to its beginning with another sunny and lovely day… I think that this day will be one of the most interesting and exciting session of the forum as some of the audience assured me.

...........

The session mainly discussed how these days oil in Saudi Arabia is the major and maybe the only source of economical growth, which is a big risk as this natural source could finish or at least decrease in the future. Some of the speakers suggested to make use of the human capital which is a great wealth that has been ignored in many counties all over the world.

Dr. Alan Greenspan, former & chairman of the board of governors of the federal reserve of the United States, believed in taking risks and explained how risk is a huge cause behind any success.

Another speaker was Dr. Muhammad AlJasser, Vice governor SAMA. He discussed about the Saudi Economy from several points of view. The most important thing was about how any development can’t be achieved with out a sustainable, transparent, and predictable macroeconomic framework.

After that Jim O’Neil, from Goldman Sachs, joined us, presenting his studies and predictions of GDP changes and development in the coming 25 years. He suggested that Saudi Arabia can achieve devolvement and prosperity by having a stable macroeconomics, strong political infrastructure, economic openness, & providing higher level of education. In relation to that Mr. David Lewis, Lord Mayor of London, suggested some similar factor that may be the reasons behind any development & thriving prosperity, he agreed that education is a very important factor, in addition to that comes partnerships and diversification and how they are constructive for any country.

At that point of the forum, Prof. Muhammad Yunus, Grameen Bank Founder & 2006 Nobel Prize Recipient, was like the glow which lightened the room with his gleaming success story. His social business grew all over the years and developed to be speared all over the world. He believed in beggars and poor people and supported them with all he can do by lending them small amounts of money since 1976, which ended to be the reason of having almost 100% of Bangladesh children to be in school and to move to a higher level of education as well. He finally wished to keep poverty in museums for the coming generations. I think this legend is one of a kind “he’s like the father of poverty”.

This session ended by a small discussion between several speakers, Mr. Abdilkareem Abu AlNasr (CEO NCB), Atif Adbulmalik (CEO Arcapita), and Maha AlGhunaim (MD Global Investment House). They mainly stressed on having high levels of education and partnerships between Government and private sectors, can lead to a glamorous success and boon in prosperity.

Sunday, February 24, 2008

Session Two (Part 3) - Rethinking Real Estate and Urban Development


Eman, Chief Editor
Budoor, Dina, Raghad, Rama, Hatoon; Contributing Editors

After the Teayana break, the second session continued, marking the last part of the first day of the forum.

Mr. John Defterios introduced the session by giving a short account of speakers and the topics to be emphasized.

This session was showing more of a local perspective of the state. A moderated discussion panel between Mr. Mohammed Fayez, Mr. Tariq Faqih, Mr. David Sucher and Dr. Ahmed Madani took place.

Panelist David Sucher, clarified that all sorts of alliances that are made are formed on the basis of coincidence or accidental meetings that usually end up in a great business successes and partnerships.

Mr. Mohammed Fayez was the next speaker. He mentioned his new association "Friends of Jeddah Parks". One of the projects made him construct the first amazing park, which has playgrounds for different sport activities. He presented his project in a very attractive video.

This community has young and old people who need a clean and safe place to live in with an organized sports area that brings all sorts of people together.

Following was Mr. Tariq Faqih who spoke about "Jabal Omar" the huge expansion of a residential area in Makkeh, which has already started. This mega construction project is expected to be complete within three years. This project will serve millions of Muslims (Pilgrimage and Umra) during the years to come.

Then the microphone was passed to Dr. Ahmed Madani whose major speech was stressing human needs, the importance of profit and human centre developments merge systems.

After that, Mr. John Defterios ended up the day by thanking all of the guests.

By observing and analyzing this session, I found that the last part was the most interesting and preferable part because of the multimedia. This actually was able to not only to show, but persuade people. I was happy to see how dreams came true through partnerships. In conclusion, figuring out our needs and working together as one soul are key sources of success in any society.

Session Two (Part 2) - Rethinking Real Estate and Urban Development


Hatoon, Chief Editor
Budoor, Dina, Rama, Raghad, & Eman; Contributing Editors


"A real estate developer makes improvements of some kind to real property, thereby increasing its value (Wikipedia, 2008)" and foremost is a cash flow business. At this session the leaders discussed building the foundation of the future, the urban development, and illustrated what partnership and collaborations have worked around the world. Real world examples were given based on
models developed by leaders’ in the area of real estate. The first speaker was Prince Charles, followed by Adil Fakeih, Mayor of Jeddah, and then Mark Morial, Former Mayor of New Orleans.

Prince Charles
John Defterios, the co-anchor the CNN news, introduced the session by announcing Prince Charles through video message. At the beginning he apologized that he couldn’t attend the forum in person. He said we should not be led by the economic theory. We should be creative and think out of the box. We should be united because we live in one planet and we have to live the experience together. Then he mentioned that there is a project in Japan to develop the culture and reveal its beauty. After that, he discussed how we should not think of the architecture as for its beauty only, but we have to merge it with the energy and the environment to reach the maximum benefit for the next generations.

Adil Fakeih
Mayor of Jeddah and Chairman for the Board of Directors, the Savola Group discussed two sectors. First, is the advantages and development to the private and government sectors when establishing a Jeddah development and architect growth company. Second is gaining the benefit from training the next generation in order to promote energy.

Mark Morial
He is the President and CEO of the National Urban League and former Mayor of New Orleans. He mentioned the civil rights organization and encouraged us to step forward to face the challenges. We must build better culture, educational institutions, transportation systems, and develop a greater quality of life. Towards the end, he gave examples from Malcom X, who brought the idea of multi-culturalism to USA, after he visited KSA for the first time.

I noticed here that all of them are discussing our cultural differences and the beauty of it. Also, they emphasized the use of energy and using resources efficiently to develop a better quality life for our countries.

Session Two (Part 1) - Rethinking Real Estate and Urban Development


Noufal Ahmad Ibrahim & Ahmed Bajammal, Chief Editors
Diaa, Fahad, & Thamer, Contributing Editors

After a delicious and extravagant lunch, all dignitaries returned to the hall.

The issue that was being debated was now “ Rethinking real estate and urban development”

The session introduction was conducted by John Defterios, followed by Prince Charles’ video message. In his message , he emphasized the importance of finding and using energy efficiently and avoiding deforestation . He also shed light on satisfying the core and spiritual needs of the people in our societies while building infrastructure and not only constructing concrete blocks.

Former Mayor of New Orleans (Mark Morial) honored the stage with his presence. He began by thanking King Abdullah for his help provided in overcoming the disaster of Hurricane Katrina. He addressed topics such as economic development and terrorism and the effects of these on both societies as a whole.

Saudi Arabia has a unique opportunity of building cities. This should be carried out in a way that it not only provides shelters but also improves the quality of life concentrating on the individual and cultural institutes for the next generations to learn the appropriate traditions .

During his speech, he mentioned Malcolm X ,a great pioneer, who was inspired by his pilgrimages to Makkah, and spoke largely on his efforts and hard work to better his society.

Engineer Adel Faqueeh talked about the company for real estate development which was ordered by his majesty King Abdullah in his Royal Decree . he said it had a role in developing and growing random sites which number 50 regions or districts which are suffering underdevelopment and lack of services which should be enjoyed by everyone or a premise. Mr. Tariq Faqueeh gave an overview on the project that the Makkah region will enjoy and how it will solve all the problems pilgrims meet during pilgrimage such as poor transport and poor housing . This project will be profitable to everyone.

To better the quality of life of mankind is not an easy job, yet with true thinking and planning, impossible things will cease to exist.

Session One (Part 2) - From the House to the World


Rama Jabakhanji, Chief Editor

Budoor, Dina, Eman, Hatoon, & Raghad; Contributing Editors

Since today is the first day of the Jeddah Economic Forum Sami Bahrawi (Chairmen of JEF) began with welcoming everyone for attending. He aimed on specifying that this session is focusing on both value creation of partnerships and alliances, as well as analyzing the themes from national and international perspectives. He finally welcomed Alastair Stewart for participating in JEF again.

Stewart then began with his speech focusing on sustainable development due to the increase in the oil prices. He also played the role of introducing the speakers.

Dr. Haris Silajdžić started with his speech by thanking the country when they were in dire need in the aftermath of the breakup of Yugoslavia, and then he moved on talking about his country, Bosna, that they kept their morals and beliefs and they are a good example of defending themselves and at the end he invited everyone to visit his country.

Prince Turki Al Faisal in his speech said that KSA is now open for business since the region's trading tools have increased with a number of important economic and political changes occurring. One factor that will assist in this growth is that KSA is providing training programs and scholarships to its citizens, particulary the youth. Moreover, KSA is playing an important role in supporting other countries especially during difficult situations such as earthquakes, other natural disasters, and wars. He ended his words by thanking everyone.

Finally, Dr Salam Fayyad talked mainly about his country Palestine and its bad situation, he said that his country needs political stability and that this is the most important factor in any business, he then encouraged everyone to share their experiences and ambitions. Palestine urgently needs productive alliances and partnerships.

In my opinion I think that the beginning session of forum went very well and in a good established and organized way.

Session One (Part 1) - From the House to the World



ThamerAl-Haddad
, Chief Editor
Noufal, Diaa, Ahmed, Fahad, Contributing Editor

At last, it’s the 24th of February and the 2008 JEF has finally kicked off, right here in Jeddah, with a sunny clear sky covering our beautiful city of Jeddah.

For me this is my first time attending the Jeddah Economical Forum, and it has really turned out to be just as exciting as I thought it would be. There are plenty of celebrities, entrepreneurs and leaders from all over the world.

Once we got through the high security we were able to engage with others for a bit of chit chat in the exhibition area, everyone grabbed a cup of tea and headed into the main hall for the start of the forum.

Minutes before the introduction, you could feel the vibe as the energy level and people began filling up the hall. The session started with Dr. Haris Silajdžić, the president of Bosnia. He addressed the issue that all of the nations should avoid what is called “Cultural Wars” (conflict between people based upon their cultures and beliefs which can sometimes be violent in nature).

Following Dr. Harris was HRH Prince Turki Al-Faisal. I really admired a lot of his comments as I found them not only very interesting but intriguing. HRH emphasized the importance of partnerships and alliances. Citing an example from astrologers who have a high cooperation among their group, this reminded him of a saying that goes – “There is no one nation from where the whole sky can be seen”. To me this means that we have to stand together to achieve our goals.

He also commented on the diversification of Saudi Arabia from just depending on oil to expanding to other areas. In closing his speech he mentioned that Saudi Arabia is truly open for business after joining the world trade organization.

What I also noticed from the President of Bosnia and the Prime Minister of Palestine is that they both talked about their own countries economical and political dilemmas and showed how they implemented solutions. They also emphasized the role of Saudi Arabia in supporting and helping their countries in the best ways possible.

Towards the end of this first session as the discussions were wrapping up I started to smell the food and it sure smells good. Well, I guess my nose and my stomach is telling me it is lunch time and the end of the first session.

So until the next session….. Bon Appetit!