18/12/2018 06:18 AST

The concept of a digital economy forms an integral component of sustained development goals in the wider Arab region, said a Kuwaiti official on Monday. The head of the General Secretariat of the Supreme Council For Planning and Development’s Department of Economic Development Nadia Al-Hamlan made the remarks after taking part in talks over the perspectives of a digital economy in the Arab region.

The first of its kind conference refl ects the Arab region’s earnest desire to embrace the principles of a digital economy, which are based on innovation and strict governance, among other factors, she told KUNA. She revealed that some 70 digital economy experts have come together for the talks, saying that such events provide an opportunity to become informed of the latest research in that field.

Eliciting a major turnout including Arab League chief Ahmad Abu Al-Gheit and UN officials, in addition to World Bank representatives, the event aims to propel Arab economies to new levels, the Kuwaiti official added. Earlier, Arab countries are looking forward to establishing a collaborative digital economy that can help “our Arab societies meet future challenges,” President of Arab Federation for Digital Economy Dr Ali Al-Khoury said.

This came in a speech by Dr Al- Khoury at the opening of the First Arab Digital Economy Conference in the UAE’s capital Abu Dhabi Sunday. Dr Al-Khoury stressed the importance of promoting joint Arab cooperation based on digital knowledge and supporting the plans of technological development in the Arab countries.

“The conference will be a turning point to benefit from the digital economy in a new lifestyle, improving performance in all fields, designing strategic investment maps and formulating policies by adopting the restructuring of products and services using digital technology,” he added.

The two-day conference is attended by representatives from the League of Arab States, the United Nations, the World Bank, the ministers of finance and economy and the governors of Arab central banks, including Kuwaiti Central Bank Governor Dr Mohammad Al- Hashel, and the General Secretariat of Kuwait’s Supreme Council for Planning and Development. The conference, which is being held under the patronage of the Crown Prince of Abu Dhabi, Sheikh Mohammad Al-Nahyan, will include 10 sessions featuring Arab and Western officials.

Arab Times

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