Abu-Ghazaleh ? ?More Efforts Needed to Encourage National Capitals and Investments Return Home?

TUNIS - Founder and Chairman of Talal Abu-Ghazaleh Organization (TAGorg), Mr. Talal Abu-Ghazaleh, said that he strongly believes that it is time to encourage and promote national investments instead of concentrating our efforts to attract foreign capitals to invest in our countries.

In the United Nations Conference on Trade and Development (UNCTAD) meeting, held during the World Summit on the Information Society (WSIS) in Tunisia, November 16-18, 2005, Mr. Abu-Ghazaleh reiterated his belief that there is a crucial need for the national capitals to return home and contribute to the socio-economic development of their own countries.

Saying that the Arab region is an essential source for capitals and investments, he emphasized on the need to replace foreign investment laws with national investment legislations.

"Arab countries should benefit from technical cooperation by creating a compulsory system for technology transfer which will be similar to the intellectual property rights protection system instead of relying only on subsidies," Mr. Abu-Ghazaleh said.

While discussing the regional dimensions for the globalization of the information society, Mr. Abu-Ghazaleh stressed on the important role of the private sector in contributing to the development of their countries.

Representing the Arab private sector in the Summit, Mr. Abu-Ghazaleh participated in the United Nations Educational, Scientific and Cultural Organization (UNESCO) seminar on ?Shaping the Future Through Information?. In addition, he is taking part in the International Chamber of Commerce (ICC) seminar on the role of the private sector in the information society.

Discussing the role of the information and communications technology (ICT) in achieving the Millennium goals, Chairman Abu-Ghazaleh will speak about this vital issue in a roundtable organized by the WSIS. He will also take part in a special seminar on the information society in Jordan headed by the Jordanian Minister of Information and Communication Technology, HE Nadia Al Saeed.

Meanwhile, the ?ICT 4 All Exhibition? was organized on the sidelines of the WSIS, which started November 15 and will continue until November 19, running in tandem with the World Summit. The exhibition is an opportunity for participants to attend presentations delivered by officials, experts and businessmen on the benefits of ICT that individuals, as well as government and private sectors, could reap from this information technology breakthrough.

The Talal Abu-Ghazaleh Organization stand, part of the Jordanian pavilion, was met with remarkable success reflecting the constructive cooperation and partnership between the government and the private sector.

Among many delegates who visited the Organization?s stand on November 17, was His Excellency Mr. Driss Jettou, the Moroccan Prime Minister and his delegation. The Premier was provided with a comprehensive overlook about the Talal Abu-Ghazaleh Organization, the services it provides, and its contributions by Mr. Mustafa Nasereddin, executive director of the Organization.

Showing his great interest, Mr. Jettou said. ?Jordan and Morocco have common interests in different fields mainly in the fields of education and development.?
On another level, Mr. Abu-Ghazaleh will take part in a discussion initiated by the Group of Eight (G8) on establishing an appropriate information environment for the development of e-learning.

The WSIS was opened on November 16, 2005, under the patronage of the Tunisian President His Excellency Zine El Abidine Ben Ali with the presence of 60 heads of states, UN Secretary General HE Kofi Annan as well as thousands of personalities and business leaders with one main issue to tackle mechanisms to bridge the digital divide.

The WSIS is held in two phases; the first phase took place in Geneva hosted by the Government of Switzerland from December 10 to 12, 2003, where 175 countries adopted a Declaration of Principles and Plan of Action. The second phase is currently taking place in Tunis hosted by the Government of Tunisia, from November 16 to 18, 2005.

The summit aims at promoting the use of the latest in information and communications technology by boosting development in the least developed countries.