Economic diversification and the reality of the most prominent investment themes
New Morning agencies:
Officials in the Arab Monetary Fund announced that a number of Arab countries presented different visions of the proposals of the International Monetary Fund before the meeting of agents and ministries of Arab money, which concluded in Abu Dhabi in the first of yesterday, regarding «the development of economic diversification policies in the oil-exporting Arab countries» and «the reality of investment and growth in the Arab countries. »
And contract agents and finance ministries in the Arab countries their first meeting in Abu Dhabi, headed by the Undersecretary for International Financial Affairs in Saudi Arabia, Suleiman bin Mohammed Al Turki, whose country holds the current session of the Council of Arab Ministers of Finance.
A statement issued by the Arab Monetary Fund meeting, and quoted the «life» International, that «discussions on these topics focused on the critical importance of the efforts of economic diversification for the Arab States, regardless of their economic and financial conditions, and noted Borkta Fund».
He pointed out that agents and finance ministries in the United Arab Emirates, Algeria, Saudi Arabia and Kuwait have made their vision on paper «the development of economic diversification in the oil-exporting Arab countries policies», also gave agents and finance ministries in Bahrain and Morocco, two comments on the paper «the reality of investment and growth in the Arab countries».
The Arab Fund for understanding on the introduction of amendments to the two papers based on interventions in preparation for submission to the Council of Ministers of the Arab money at its next session in April in Manama.
He noted that the meeting listened to presentations from the World Bank «the needs of enhancing the flexibility of labor markets in the Arab countries to cope with unemployment» and «policies and the experiences of the informal sector is included in the economy».
He pointed out that the discussions emphasized the critical importance of structural and legislative reforms that enhance work efficiency and flexibility of markets in the Arab countries and the need to take the necessary appropriate policies and tools to work on the informal sector is included in the economic activity so as to enhance the prospects for overall economic growth on the one hand, it provides the opportunity for several sectors to reach to finance and financial services. The meeting also discussed the reality of the tax reform policies in the Arab countries where he presented the Arab Monetary Fund and background on the subject, followed by presentations from ministries and agents for their countries and their experiences on the level of tax reform.
The experiments showed varying tax systems level between the Arab countries according to their situations.
The statement noted that the meeting reviewed the preparations for the organization of «public finances and growth in the Arab countries» to be held on 22 and 23 February next in Abu Dhabi forum. UNFPA provided a summary of the Forum and themes.