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Dubai’s Department of Economic Development DED Talks

May 22nd, 2016

 

The Department of Economic Development (DED) in Dubai launched DED Talks, a sustainable knowledge exchange platform to discuss economic trends, indicators and updates, which will bring together experts, investors, entrepreneurs and businessmen in different sectors as well as public and private sector stakeholders in economic development

The first talk in the series witnessed DED presenting a new book from the International Monetary Fund (IMF), Breaking the Oil Spell: The Gulf Falcons’ Path to Diversification.

This event came in the wake of the call by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for new initiatives and measures to steer the UAE economy away from oil and set it on a path towards a sustainable, diversified, knowledge-based economy.

The book starts by asking readers to imagine a future in which oil is no longer the main source of energy. In the past, countries such as Brazil, Korea, Malaysia, and Singapore have made major strides in economic diversification, and this book distills lessons from their experiences to help guide the Gulf countries and other oil exporters today. Their stories reveal that incentives for firms and workers need to be realigned to develop technologically-sophisticated, export-oriented industries. More important, their stories show that standard growth policy prescriptions may not be enough and changing incentives for firms and workers is essential. Breaking the Oil Spell sheds light on what constitutes true economic diversification and the role of the state in achieving it.

 

DED Talks website:

 

 

Part 1

  • Introduction by H.E. Sami Al Qamzi (Director General of Dubai’s Department of Economic Development).
  • Introduction by CEF Director Oussama Kanaan (Director of the IMF Middle East Center for Economics and Finance).
  • IMF Economists Reda Cherif and Fuad Hasanov: Overview of book, “Breaking the Oil Spell: The Gulf Falcons’ Path to Diversification”.

 

Part 2

  • Overview of book, “Breaking the Oil Spell: The Gulf Falcons’ Path to Diversification” (Continued from Part I).
  • A Roundtable Panel Discussion on Economic Diversification and Sustainable Development in the Arab World. Panelists: Dr. Reda Cherif, Dr. Fuad Hasanov and Dr. Oussama Kanaan, Dr. Hatem Samman (Chief Economist, Saudi Arabian General Investment Authority), and Dr. Raed Safadi (Chief Economic Advisor, Dubai’s Department of Economic Development). Moderator: Ms. Naoufer Ramoul (Dubai Television).

 

Part 3

  • A Roundtable Panel Discussion on Economic Diversification and Sustainable Development in the Arab World. (Continued from Part II)

 

Part 4

  • A Roundtable Panel Discussion on Economic Diversification and Sustainable Development in the Arab World. (Continued from Part III).
  • Q and A: Open Floor Discussion.

 

Part 5

  • Q and A: Open Floor Discussion. (Continued from Part IV).
  • Closing Ceremony, Remarks by H.E. Sami Al Qamzi.