The Centre for Economic Growth Launches in Abu Dhabi
The Centre for Economic Growth (CEG) has just launched in Abu Dhabi, United Arab Emirates, and is the first of its kind in the region, providing a new platform for economic research and analysis. The CEG is a collaboration between the UAE private sector and the INSEAD Business School, with which it is partnered. Its focus is on job creation and youth employment through promoting investment and sustainable economic growth within the region. According to Arabian Business:
“Sultan Bin Saeed Al-Mansouri, UAE Minister of Economy, said the move was part of the UAE’s top priority is to build national capacity and to direct its human energies towards a horizon of excellence, innovation and leadership.”
Job creation has been a significant issue in the Middle East and North Africa (MENA) region, and the CEG is aimed at increasing economic growth and employment. The IMF suggests that the MENA region needs an annual economic growth rate of 7% in order to prevent unemployment from rising even further. With growth forecasted at only 3.2% this calendar year, the CEG will hopefully provide the spark needed to increase these numbers.
Founding chair of the CEG Business Council, Majid Jafar, had this to say about the launch:
“The economic challenges facing our region require the engagement of all sides to achieve success, including the private sector, governments and the academic world.”
The founding of the CEG and its subsequent collaboration with INSEAD offers the potential for a successful partnership between youth and the private sector, creating jobs and stimulating economic analysis and growth along the way.
