DIFC to organise finance forum
Dubai, April 6, 2010
The Dubai International Financial Centre (DIFC), an onshore hub for global finance, will organise a high-level finance and business conference focusing on the growing importance of the Mena and South Asia (Menasa) region to the global economy.
Themed ‘Finance for the next decade of growth’, the forum will be held from May 23 to 24 in association with Abraaj Capital, a top private equity group, and Deutsche Bank, a global investment bank.
The forum will look at issues such as regional capital market development, infrastructure finance opportunities, Islamic finance challenges, regional energy needs and the changing role of oil in an increasingly diversified global energy mix – all from an emerging markets perspective.
“The world is seeing a fundamental restructuring of the global economic system, with emerging markets playing an increasingly significant role,” said Ahmed Humaid Al Tayer, governor of DIFC.
“This shift is affecting economies worldwide, but especially those in the Middle East, North Africa and South Asia – a region at the centre of this transformation and one that is well positioned to take advantage of these changes,” he added.
In the Menasa region, the enormous accumulation of sovereign and private wealth, a young and fast-growing population that makes up 25 per cent of the world’s total, and market liberalisation and regulatory reforms of a region with some $4.1 trillion in combined GDP are providing the foundation for prospects of sustained growth, a statement said.
The economic integration between the region’s countries is underscored by its growing share in global trade – total external trade in the Menasa region amounted to about $2.1 trillion in 2009.
As a result, Menasa economies are increasingly significant from a global perspective – expanding their share of world GDP, financial liquidity, infrastructure spending and investment.
Abdulla Mohammed Al Awar, chief executive officer of the DIFC Authority, said: “The Menasa region’s resilience to the global economic crisis, combined with its significant long-term growth prospects, has given it a vital role in the global economy.”
“The Menasa Forum seeks to build on this role by providing a platform for generating new insights on how financial institutions can tap opportunities in the region. Over the last five years, DIFC has emerged as a global investment hub for Menasa and we are further expanding our efforts to serve global financial institutions interested in this region.”
The invitation-only forum will bring together 250 top policy makers and executives from the region and international financial institutions and regulators to participate in the discussions via live polling and Q&A. – TradeArabia News Service