It had been 1,000 years, visitors from far and wide had been attracted by the Dead Sea. and the legends of its power of healing and rejuvenating were responsible for that. On the 6th and 7th April 2019, 1,000 key leaders from civil society, business, and government gathered on its shore.
And all this was for the World Economic Forum on the MENA or the Middle East and North America. And this was to confront the issues that were being faced by over 400 million people.
It is always advised to consult with legal consultants in Dubai before making any firm decision of investing in the middle east.
5 Challenging Areas Of Investing In The Middle-East
When we think about the Arb world, our mind considers it as a region of two contracting systems. One of these two systems features digitally native youth, dynamic private sectors, and of course, open economies.
On the other hand, we have bloated public sectors along with controlled and closed economies. In the Middle East and North America or MENA, most people interact with both systems. They are also accustomed to facing a mixed reality.
Poverty sits side-by-side with wealth here. An exciting entrepreneurial culture regularly struggles with dull bureaucracy here. You will also be able to experience an uncontrollable appetite for the new is totally balanced with respect for tradition.
Here are the 5 challenges that you need to face if you are thinking about investing in the middle east.
A New Social Framework And Sustainable Ecosystem
In the Arab world, a large part of the social contract relies on state-provided employment. This is definitely unsustainable. Almost half of the population is under 25, and one-fourth or 25% are unemployed.
We also can add the most significant gender gap in the world. So, it is crystal clear that a new framework is required.
A Mechanism For Conflict Resolution
All those humanitarian disasters that are going on in Iraq, Yemen, and Syria need immediate attention. In addition to this, the list also has ongoing long-term projects of rebuilding all those fully functioning states.
This very region is the home of long-standing tensions. Unless all these are limited and competitive, a thriving region will be hard to realize.
An Ecosystem Of Innovation And Entrepreneurship
Instead of the economic framework, the success stories of individuals in the region too often thrive on other ones. An ecosystem, which along with nurturing innovation, also encourages firms to grow and flourish, is needed.
Fourth Industrial Revolution
The way we are working, chances are happening more quickly than most other societies are prepared for. For establishing the right regulatory environment, this is a short window. In addition to this, reskilling other people also belong there.
This is to make sure that the large economies are able to capture the opportunities of technology.
Addressing Corruption, And Transparency
In the disillusionment, and region governance performs a must-do issue. These are caused by the very perception of corruption. And it is strong among particularly young Arabs. So, it is especially worth looking at especially.
Action Not Words
For bringing businesses together with the government along with the other stakeholders in private-public corporations, a new collaborative platform is extremely needed here. This was the very aim of the summit of the World Economic Forum in Jordan.
By convening private and public sector members and also bringing very new voices into the specific arena, for example, 100 Arab start-ups, we can hope for facilitating forward-leaning dialogues. This will also understand and respect the culture and the values of the region.
So, these are all the challenges that investors are facing in the middle east. As the challenges really impact the business ecosystem in that particular area, the investment environment is automatically hampered by this. So, if you are planning to put your money in the middle east region, make sure that you are totally accustomed to all these issues and ready to face all of them properly.