Kuwait Chamber of Commerce and Industry calls for adopting a specific Arab vision to achieve real economic structural transformation
Firas Al-Adwan of the Kuwait Chamber of Commerce and Industry, during the Arab Labor Conference in Cairo, called for adopting a specific economic vision to ensure real structural transformation, focusing on balancing renewable and fossil energy and supporting small and medium enterprises.
Translated by Qiyas from كونا — Original source
Cairo, September 14 (KUNA) -- The Kuwait Chamber of Commerce and Industry called on Monday for the adoption of a clear and specific economic identity and vision to ensure a genuine structural economic transformation in Arab countries.
Firas Al-Awada, Assistant General Manager of the Chamber, told the Kuwait News Agency (KUNA) during the 52nd session of the Arab Labour Conference held in Cairo that without a serious and genuine economic vision, Arab countries would remain in the middle-income bracket and fail to provide decent and sustainable jobs that keep pace with rapid technological changes, which may eliminate many routine jobs in the future.
Al-Awada added that this year’s report by the Director-General of the Arab Organization for Human Resources Development highlights a real challenge: the failure of economic growth rates to positively reflect on social development, unemployment, and poverty levels in Arab countries.
He clarified that the Arab Labour Conference is discussing several important technical issues, including a session on “Climate Change and Its Impact on the Work Environment,” emphasizing the importance of transitioning toward a low-emission Arab economy and the necessity of adopting a pragmatic approach based on a diverse mix of energy sources, combining fossil fuels and renewable energy to ensure energy security, continuity, and affordability.
In this context, he pointed out that transitioning to a low-emission economy does not mean an absolute abandonment of fossil fuels; rather, the solution lies in reducing emission intensity and improving usage efficiency. He added that the Chamber will stress during the conference the need to be cautious about imposing strict unilateral environmental regulations, which could cause national industries to lose their competitive edge against countries and blocs that do not adhere to the same environmental standards.
The Assistant General Manager of the Kuwait Chamber of Commerce and Industry noted that the conference will also discuss a session on startups, which offer promising opportunities to contribute to transforming core activities into the digital space. He expressed the Chamber’s concern that excessive focus on these companies might come at the expense of supporting traditional small and medium-sized enterprises (SMEs), as the latter remain the primary and most important driver of job creation, whereas many emerging digital startups rely on technological solutions that often involve workforce reductions.
He called for supporting and encouraging all entrepreneurial and innovative initiatives across all sectors, whether digital, industrial, or environmental, and cautioned against limiting the concept of entrepreneurship solely to startups.
The Arab Labour Conference, which began on Sunday and will continue until September 20, represents an important opportunity for Arab countries to exchange experiences and expertise and to discuss common challenges facing labor markets, as well as ways to enhance employment opportunities and reduce unemployment. (End) A.S.M. / S.M.A.
