Kato on economic growth in the Arab countries
"Clearly, an environment conducive to encouraging entrepreneurship would elicit higher rates of investment-both from domestic and foreign sources. It would also have a large beneficial effect on productivity and employment growth. The development of export-oriented industrial sectors would enhance the integration of the region into the world economy.
"Finally, of course, strong institutions and a facilitating environment will enable the region to achieve sustained growth at a pace sufficient to absorb the rapidly rising labor force.
"The issue this high level seminar will address is indeed important. I am looking forward to the presentations and discussions as you all are, and I am confident that the exchange of ideas and experiences will be highly enriching and useful for all of us.
Opening remarks by Takatoshi Kato, Deputy Managing Director, International Monetary Fund, at the High-Level Seminar on: "Institutions and Economic Growth in the Arab Countries" Abu Dhabi, United Arab Emirates, December 19, 2006.
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