Secretary General of the Arab Chambers Union: The private sector constitutes 75% of the Arab economy

Abu Dhabi, February 26 / WAM / Dr. Khaled Hanafi, Secretary General of the Arab Chambers Union, confirmed that the Arab private sector constitutes about 75% of the gross domestic product of the Arab region, indicating that its role is not limited to production and employment, but rather extends to enhancing investments and export, This makes it a vital component in supporting Arab economies.

Hanafi said, in statements to the Emirates News Agency “WAM”, on the sidelines of the “Intensopia 2025” activities in Abu Dhabi, that the Union of Arab Chambers works through a wide network that includes the unions of the chambers of commerce in 22 Arab countries, along with the joint foreign Arab chambers spread in 16 countries Around the world, with the aim of enhancing Arab economic integration and linking local markets to the world, noting that this effort contributed to attracting many companies and investors to the region Arabic, which helped change the traditional view of the Arab markets from just a consumer destination to a strategic partner capable of providing added value through investing in local resources, especially human resources.

Hanafi pointed out that the main challenge that currently faces Arab economies is to absorb modern technology and the transformation to the digital economy based on artificial intelligence, explaining that this transformation is not only related to modernizing productive processes, logistical services and financing, but also includes improving supply chains and raising the efficiency of economic performance in general .

He stressed that Arab youth is the main driver of this digital transformation, as the success of countries in adopting modern technology depends on the ability of the private sector to keep pace with these changes and integrate the largest possible number of individuals into this path.

He added that the digital transformation does not need huge financial resources as much as it needs knowledge, and we in the Arab region have the advantage of young societies, which we must invest in.

On the future of the private sector in the Arab region, he stressed that the success of any economy depends mainly on enabling the private sector and giving it the opportunity to work freely, as it is the one who produces, exports, invests, and is employed, and if the governments succeed in enabling it, their economies will succeed.

With regard to privatization, he stressed that the issue is not related to the transfer of the ownership of public institutions to the private sector, but rather is related to providing a business environment that allows him to work efficiently and without obstacles, which requires flexible economic policies that enhance his competitiveness and motivate him to innovate and grow.

Hanafi praised the UAE’s experience in enhancing its digital readiness, stressing that it is a global model in digital transformation and economic innovation, and that many countries, including European countries, seek to benefit from their experience in this field.

He said that the UAE is not only a model in the Arab region, but an experience referred to globally, as it was able to overcome many obstacles and achieve great successes in the fields of digital economy, entrepreneurship and artificial intelligence, and Arab countries can benefit from the Emirati experience, not necessarily by cloning the model, but through Developing solutions that suit their own economic and social conditions.

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