Manama: The speakers during the two-day International Institute for Strategic Studies’ (IISS) Geo-economics and Strategy conference showed concerns over the education and skills gaps in the GCC.
The meet concluded on Monday titled the ‘Business Opportunity and Political Risk in the Gulf and Middle East’ Conference at the Sofitel Bahrain Zallaq Thalassa Sea and Spa on Sunday.
The two-day meeting brought together business leaders, policymakers and experts to discuss economic prospects in the GCC, such as the thriving aviation industry, oil production, manufacturing and the other infrastructure opportunities.
Delegates deliberated the need to utilise the demographic dividend of the region and for stronger private sector collaboration in tandem with government policy-making.
Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Bahrain EDB, delivered the keynote address on Sunday.
Kamal bin Ahmed stressed the importance of developing a post-oil economy.
“The challenge for us should be to ensure that our current prosperity is not something that we look back on in thirty years as a short-lived golden age. After all, oil will not last forever – we need to make sure that we develop economies that are able to thrive in the post-oil era. If we are to maintain and increase our current levels of prosperity for the next generation, and if we are to ensure that the benefits of this growth are shared widely across society, we need to continue to invest in economic diversification.”
Stressing the need to develop the human resource potential, Kito De Boer, Director, Middle East, McKinsey & Company, echoed the sentiment saying that he is more worried about education and skill building in the region than running out of oil reserves in the region.
Other speakers included Dr Sanjaya Baru, Director, Geo-economics and Strategy, IISS; Dr Toby Dodge, Consulting Senior Fellow for the Middle East, IISS; Emile Hokayem, Senior Fellow for Regional Security, IISS; Danny E Sebright, President, US – UAE Business Council; Ibrahim Dabdoub, Deputy Chairman, International Bank of Qatar; Adel Ali, Group Chief Executive Officer, Air Arabia, Sh Mohamed Bin Khalifa Al Khalifa, Chief Executive, The Oil and Gas Holding Company, Bahrain; Atul Punj, Chairman, Punj Lloyd; and Jeffrey Johnson, President, Middle East, Boeing Company.