The Road Ahead For MENA Companies

We’re entering a new phase of pandemic recovery. After the impact on health, the impact on the economy starts now. I had the pleasure of discussing the road ahead during my interview with Al-Iktissad Wal-Aamal. If we are to build economic resilience in the region, it is vital to re-evaluate our approach.

Here’s a summary of my thoughts. Watch the full interview here:

Economic Stimulus: There is a need to build a recovery strategy through re-evaluating priorities, assessing the market size, consumer trends, and the necessary stimulus packages to reignite economic growth.

Regional Outlook: The last two quarters of 2020 will be the ultimate test for economies and businesses. Businesses will need support and fiscal stimulus for the remainder of 2020 and the first quarter of 2021.

Diverse needs: The government’s role in recovery is paramount, incentive packages are critical, Bahrain, for example, acted swiftly and effectively and supported their local economy extensively. Solutions and incentive packages vary in effectiveness, depending on markets and businesses, and should reflect what is necessary, not just what is possible.

Time: We need time to plan well and effectively. The capabilities of our countries vary, as well as the local reality in each region. We need to be prepared for a difficult near-term future, and we need a new approach to survive and thrive through it.

I am confident that we can and will get there, especially with wise and careful thinkers like Dr. Jihad Azour, H.E. Dr. Ahmed Alkholifey, H.E. Rasheed Al Maraj, and DR. Faysal Abou Zaki working towards these goals. Thankful to these gentlemen and others working for the good of our region.