Dr. Mahmoud Mohieldin, First Vice President of the World Bank, believes that in light of the prospects of a decline in global growth, Arab countries can improve their opportunities to expand foreign investment through legislative stability and the provision of law on dispute settlement and preservation of property rights.
According to Al Masry Al Youm newspaper, on the sidelines of the opening of the Sustainable Development Week conference in Egypt, Mohieldin noted that it is important to invest in local capacities and create a favorable climate for local investors by providing a new approach in areas where there are high opportunities for growth such as the telecommunications sector. And education.
On how Arab countries can emerge from poverty, the World Bank's First Vice President explained, "This can be done through localization processes of development and investment in the possibilities available."
"The potential in the Arab countries is enough to lift 20 million Arab citizens out of extreme poverty," Mahmoud Mohieldin said.
"It will take political will and resolve the conflicts in the region. I am optimistic that the Arab countries will start talking about their cycle of poverty and that governments, with the participation of the private sector and development partners, will take serious steps to get out of poverty."
Syria Economic News
