According to a leading entrepreneur, the Arab world must come together to create an atmosphere that welcomes investors for the entire area. Because they “don’t operate as one single Arab world,” the $10 billion firm outputs in the Arab world aren’t increasing, according to Kitopi CEO Mohamed Ballout. Ballout recounted a discussion he had a few weeks ago with “one of the world’s largest investors” during a session at the World Governments Summit. The investor questioned Ballout as to why he should invest in the Mena region, given that there aren’t many $10 billion outcomes compared to China and India. “He’s right; we cannot build a lot of $10-billion companies, Ballout said in agreement with him.
One of the challenges I see is that we don’t operate as one Arab world; we operate as individual countries,” he added. Even if it’s really challenging, I believe that to be among the most crucial items. In contrast to India, which has a GDP of about $4 trillion and only a few hundred million without its oil earnings, the GCC has a $2 trillion economy, he noted. According to Ballout, the Arab nations’ unity is the answer. Ballout went on to say that early investments in science and technology would help them create tools that could be used all over the world, which would help businesses generate more.
Also Read:
Interview The most successful Indian Entrepreneur on the World Gaming Stage: Parth Das
Driving Innovative Marketing Strategies: Alexandra Popa
About Author
