Expert underscores role of short-term initiatives for growth, job creation

By Peter Alagos

Business Reporter

 Governments should focus on initiatives such as short-term investments on infrastructure and other sectors to spur economic growth and employment generation, an industry expert said during the Shape Mena 2014 held yesterday at the Qatar National Convention Centre (QNCC).

Dr Tarik Yousef, CEO of Silatech, made the statement in a keynote address before 150 young leaders representing 30 countries at the inaugural staging of the event, which carried the theme “Economic Growth and Job Creation in the Mena Region.”

Shape Mena is an annual regional gathering of the Global Shapers Community in the Middle East and North Africa Region. The event, which concludes today, serves as an interactive platform for young, bright, and potential leaders to learn, discuss, and exchange knowledge.

Citing political upheaval, conflicts, and other crises that stunted the growth of economies in the region, Yousef said: “Governments have overlooked initiatives relative to development and employment generation by focusing on long-term programmes.”

“Governments are busy and distracted, the private sector is sitting on the fence, and the global economy has bigger issues to worry about. The only thing that can happen in the short term are projects, programmes, and initiatives that tackle specific, focused issues around growth and job creation,” Yousef stressed.

Yousef, who attended the recent Global Agenda Council meeting in Dubai, said the council agreed that “the only task governments should accomplish in the next two to three years are short-term investments in infrastructure or in other sectors that can provide more jobs.”

Yousef said Silatech’s engagement and view of the region are shaped by the opportunities “that we can exploit in the short-term to bring about change.”

He encouraged the youth, specifically those from non-government organisations, foundations, and groups such as Global Shapers to focus on projects that create opportunities through internship programmes, experiential learning, entrepreneurship, mentorship, technology-based issues, vocational training, microfinance, SME development, and social entrepreneurship, among others.

“In other parts of the Arab region, the only things that are creating excitement and hope and, in fact, setting the tone for change, are projects that are led by people like you,” he said.

He said, “In my view, these are the only things that can happen given the constraints caused by socio, economic, geo-political issues whether in the local, regional, or international scene. Also, make sure that this movement for paramount change can sustain itself, hit the targets, and can define the contours of social and economic change in the Arab world over the next five to 10 years. This is the only agenda possible.”

Global Shapers senior community manager (Mena) Wadia Ait Hamza said more than 70% of the hubs in the region have been staging programmes linked to education, entrepreneurship, and mentoring, among others.

He said the group aims to help the youth “organise for impact” on the local community and for young people “to have a seat on the table.”

“Fifty percent of the world population is under the age of 27. Something is missing when we try to shape the agenda because we are not talking to that 50% of the global society. This is wrong and it is high time that the youth gets a seat on the table,” Hamza said.

Silatech CEO Dr Yousef (left) and Global Shapers senior community manager (Mena) Hamza speaking at the Shape Mena 2014 at the Qatar National Convention Centre yesterday.