The issue of privatisation will be closely examined at the eighth Jeddah Economic Forum, which opens at the Hilton Hotel Jeddah on February 24.

The theme of the event is, “Economic Reform – Flourishing Grounds and Expanding Horizons.” Sami Bahrawi, chairman of the Jeddah Economic Forum, remarked that Saudi Arabia was riding the wave of a second economic boom and “we must now work hard to ensure that our economy continues to grow.”
“We need to take advantage of the new opportunities that our success brings – but we must also learn from the lessons of the first boom in the 1970s if we are to achieve continued economic success,” said the chairman.
Bahrawi said one of the key factors for maintaining economic progress would be the use of privatisation as a tool both to raise the efficiency of the economic system and to increase its competitive position in an integrated world.
“How to privatise effectively will be a central subject in the 2007 Jeddah Economic Forum, when we will be hearing both from international experts and from our own leaders in the field,” he added.