Digital transformation of service economy can drive growth across Africa and Middle East, World Bank
Investment into digital transformation in major cities of the North Africa and Middle East regions can unlock huge potential for the service economy to drive growth and job creation across the region, according to the World Bank.
“The service industry including through digital transformation, constitutes a new source of growth for Middle East and North Africa region which have for too long relied on public spending as its main engine for growth,” said Rabah Arezki, Chief Economist for Middle East and North Africa Region (MNA) at the World Bank.
“To harness the power of external waves of technological innovation into internal sources of growth and job creation, the region needs to adapt several key areas including its internet and payment systems, its regulatory framework, its education system, its “tech state capacity” and the financing architecture for start-ups,” added Arezki.
Arezki will be addressing this subject in a Keynote Speech: “A new economy for MENA - how the service economy and digital transformation can drive growth and job creation across the region” at the Smart Cities Global Technology & Investment Summit 2018 in Algiers on June 27.
The two-day Summit and Exhibition will assess how technology can transform regional economies by driving investment into Smart Cities across Africa and the Emerging Market, features 150 international speakers and 4,000 delegates, and is hosted by Smart City Algiers.
Participants include International City Mayors, Government Ministers, Smart City Investment Heads and Industry CEOs and CIOs from Technology, Telecoms, Infrastructure, Energy, Security and other sectors critical to Smart City development. 10 sessions themes featuring Leadership Plenary Panels and Visionary Keynotes have been identified and will take place across the two-day programme which includes 50 sessions.