HAAA's 2010-2011 Executive Board Elections

Panels & Speakers

Panel I : Regional Economics and Development

The Arab World and the Global Economic Crisis: Strategies for navigating the current economic environment and positioning for a recovery

The global financial crisis is adversely affecting the economies of Arab world, thereby threatening to reverse the economic growth the region has recently experienced. The most immediate impact of the global financial turbulence was an observed credit squeeze and a reduction in short term capital flows. In consequence, certain countries and numerous companies may find it increasingly difficult to meet their borrowing needs from the global and regional financial markets. Moreover, the significant decline in the price of oil has arguably had, on balance, adverse effects on both oil-exporting and oil-importing countries in the Arab world, notwithstanding the welcome decline in inflationary pressures, particularly in oil-importing countries.

The region will be faced with serious short and medium term challenges. First, trade will be negatively affected as exports decline due to a decrease in global demand. Second, countries such as Egypt, Jordan and Lebanon, which depend highly on tourism, will likely experience a decline in revenues as tourists significantly curtail their activities. Third, foreign direct investments (FDI) are likely to contract in the next few years thus materially affecting economic growth and job creation. Finally, remittances will likely also decrease, further straining regional economies.

In light of the foregoing, this panel investigated the effects of the recent economic and political crises on the region’s development and suggested measures that ought to be taken to position the region for a recovery.

Topics of interest include:

-What has been the impact of such crises on regional and country economies?
-What are the short and long term effects and risks of such crises?
-Have certain countries actually benefited from the credit crisis?
-What measures should the region take to sustain its economic growth, stimulate foreign and domestic investment, and ensure the resilience of the financial system to external shocks?

Panelists:

Mr. Assem Ragab: Chairman, General Authority For Investment and Free Zones, Egypt
Mr. Yousef Alessa: CEO, Addax Bank
H.E. Mr. Samir Al Rifa'i: CEO, Jordan Dubai Capital
Mr. George Atalla: Principal, Booz & Company
Mr. Hisham Ezz Al-Arab: CEO, Commercial International Bank

Moderator
Mr. Shahm Al-Wir: Director, Foursan Group

Panel II : The Dubai School of Government Education Panel

Arab Education: Public or Private? The rise of private education in the Arab world and its impact on public education and shaping the development of the regional workforce”

With almost half of the population of the Arab world under the age of 25, the role of education in economic and social development remains paramount. Many Arab countries have been witnessing a steep rise in private education institutions due to liberalizing policies in the education sector. Another catalyst has been the proliferation of economic free zones such as “knowledge/education” parks and cities. While private elementary, intermediary and secondary education is served by mostly locally owned schools, higher private education has been significantly less “local”. Many international, world class institutions now have presence in the region, either independently or through different forms of joint ventures.

What are the drivers behind this rise in private educational institutions in the Arab world? Why is this rise most felt in the higher education sub-sector? What is the “business case” for private education in the Arab world, for both governments and private institutions? Would private education in the region contribute to, or help reduce or eliminate, rising inequality? How does private education shape the development of a regional workforce or impact public educational institutions? Can the rise of private education turn into a case of “cultural invasion” as certain analysts have described? What are the risks and benefits in this context?

Panelists:

Dr. Lisa Anderson: Provost, American University of Cairo
Dr. Rafia Ghobash: President of Gulf University
H.E. Dr. Rima Khalaf Hunaidi: Former Assistant Secretary General and Director of the Regional Bureau for Arab States; and Former Deputy Prime Minister of Jordan
Dr. Ahmed Galal: Managing Director, Economic Research Forum
Dr. Safwan M. Masri: Professor, Columbia University

Moderator:

Dr. Tarik Yousef: Dean, Dubai School of Government

Panel III : Finance, Investments and Development

The Socioeconomics of investment and finance in the Arab world: Are businesses focusing almost exclusively on the upper-class as consumers while ignoring the large and impactful middle and lower class segments of society? What are the social and economic consequences of such policies?

The recent boom in the region has arguably been mainly played out at the top of the social pyramid. There are very few well developed, profitable businesses in the region that address the needs and “purchasing power” of the middle and lower class. For example, the vast majority of new commercial and residential real estate in Amman, Beirut, Doha, Dubai, Abu Dhabi, and even Cairo is mostly catering to high-end customers, with evident shortages in low-income housing and retail offerings. Many consider the high end market to have become saturated in some sectors, and argue that there is a compelling economic and social need to move down the social pyramid. This is especially the case in countries like Egypt, Jordan, and Saudi Arabia, where the middle and low income bracket is amongst the largest in the region.

What have been the political, social and economic drivers for focusing on the high-end market in the Arab world? Are there any businesses operating at the middle and bottom of the social and economic pyramid in the region? Is there a business case for serving the Arab middle and lower class profitably? What are some lessons that can be learnt from other countries that have successfully applied such models? Looking forward, what sectors and countries in the region are primed for such business model?

Panelists:

Mr. Mustafa Abdel Wadood: Managing Director, Abraaj Capital
H.E. Dr. Omar Razzaz: Director General, Social Security Corporation, Jordan
Mr. Hisham El Khazindar: Managing Director and Co-Founder, Citadel Capitals
Mr. Hashem Montasser: Managing Director, EFG-Hermes

Moderator:

Professor V. Kasturi Rangan: Malcolm P. McNair, Professor of Marketing and Director of Research, Harvard Business School

Panel IV : The Al Arabiya Media Panel

Censorship, Patronage, and the Press: Exploring the changing role of media in the Arab world and assessing the ways in which censorship, regulation, and funding affect journalistic endeavors

The Arab media has evolved considerably over the past decade, both in the number of outlets and the depth of coverage. Yet the state of journalism, by many accounts, is far from approximating the global standards of a 'free press'. Even the boldest news outlets have the reputation of criticizing every position but their owner’s. The panel aims to explore the changing role of media in the Arab world by addressing the following questions:

How much censorship and self-censorship is happening today in the Arab press? Do journalists feel constrained and, if so, are those constraints easing? How have regulations like the media law in the UAE and the Arab League Satellite Broadcasting Charter, legislating against "negative" news coverage, affected journalism in the region? Are states evolving in their relationship with the press? Or do they treat the press as an adversary or a security threat?

Panelists:

Ms. Hoda AbdulHamid: Field Correspondent, Aljazeera
Dr. Khalid Almaena: Editor In Chief, Arab News
Mr. Mazen Hayek: Group Director of Marketing, PR & Commercial, MBC Group
Ms. Caryle Murphy: Independent Journalist (Christian Science Monitor, The National, GlobalPost)

Moderator:

Ms. Lara Setrakian: Reporter, ABC news

Disclaimer: The Harvard Arab Alumni Association is an independent, not-for-profit organization. Nothing that is published by the HAAA should be taken to represent the opinions or endorsement of Harvard University, the President and Fellows of Harvard College, or the Harvard Alumni Association.