Yaqoob Al-Awadhi, a businessman and expert in digital transformation sector, underscored the significance of the Arab Summit hosted by the Kingdom of Bahrain on May sixteenth as an opportunity to expedite Arab integration in the digital sphere. Mr. Al-Awadhi emphasized its potential to advance the process of digital transformation across the Arab region, foster broader cooperation to address cyber threats, tailor initiatives for secure digital transformation, streamline discussions on regulatory frameworks, and innovate systems and solutions to bolster collaborative efforts in technology and security.
Mr. Al-Awadhi said: “The summit presents a favorable prospect for Arab nations to collaborate towards achieving economic development through digital innovation and technology. It aims to elevate their influence in shaping policies concerning the adoption of modern technologies in critical sectors such as energy, finance, education, and health on a global scale. Additionally, it seeks to spur innovation, drive the technological revolution through joint projects and initiatives, and capitalize on investment opportunities to advance the Arab digital economy.”
Mr. Al-Awadhi highlighted the imperative of fostering collaborative Arab efforts across various sectors, particularly in prioritized social, economic, and developmental projects. These encompass strategic initiatives like the Arab Market for Electricity, sustainable agricultural development in the Arab world, and programs ensuring Arab food security. Furthermore, Mr. Al-Awadhi emphasized the significance of evaluating ongoing endeavors in the field of Arab international cooperation for development, alongside matters concerning joint Arab organizations and institutions, and stressed the necessity of implementing decisions and legislation that reinforce the mechanisms of Arab cooperation established in previous Arab summits.
Mr. Al-Awadhi also emphasized the importance of supporting entrepreneurship and creating a conducive environment for innovation and investment as essential priorities for Arab countries and advocated for enhanced coordination among nations through initiatives such as establishing joint investment funds and providing financial and technical support for emerging Arab projects. Such efforts aim to generate employment opportunities for Arab youth and boost intra-Arab investments, leveraging the five dimensions of the Arab economy, namely the Arab Free Trade Area, the Arab Customs Union, the Arab Common Market, the Economic Union, and monetary policies.
