DOHA - With focus on Arab economic freedom as central to entrepreneurship and enterprise-based prosperity growth and poverty reduction, a two-day conference began here yesterday at the Millennium Hotel.
Titled the 'Third Economic Freedom of the Arab World Conference', the organisers of the event are the International Research Foundation (IRF) of Oman, the Fraser Institute of Canada, Friedrich Naumann Foundation and the Atlas Economic Research Foundation. Aljazeera was its media partner.
Speakers of the opening session focused on how economic freedom was a necessary condition for democratic development and entrepreneurship in the Muslim world.
They include Dr Salem bin Nasser Al Ismaily, Chairman of International Research Foundation, Ronald Meinardus, Regional Director of Friedrich Naumann Foundation.
Wadah Khanfar, General Manager, Aljazeera, addressed the meeting and spoke about the role of Aljazeera network in the Arab world.
Talking to reporters later Al Ismaily said the Arab Economic Freedom Awards, one of the most prestigious and exclusive events in the Arab world, will be announced during the conference.
He added winners of the 4th Arab Economic Freedom Awards which honours Arab countries that have made advances in furthering the economic progress of the nation and enhancing the prosperity of its people.
Al Ismaily said this year's awards will feature several countries contending for the very first time. The Awards therefore promise to be an evening not to be missed.
The winning countries will be selected in five economic freedom areas: Size of Government: Expenditures, Taxes, and Enterprises; Legal Structure and Security of Property Rights; Access to Sound Money; Freedom to Trade Internationally; Regulation of Credit, Labour, and Business; Overall Economic Freedom Index.
Since 2005, the IRF and the Fraser Institute have conducted surveys measuring some areas of economic freedom in 22 nations: Algeria, Bahrain, Comoros, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Somalia, Sudan, Syrian Arab Republic, Tunisia, United Arab Emirates, West Bank and Gaza and Yemen.
Last year's winners for the most economically free Arab nation were Kuwait and Oman. The top nations in each sub-category were: Lean government: Lebanon; Commercial and economic law and security of property rights: Saudi Arabia; Access to sound money: Lebanon; Freedom to trade internationally: Qatar; Ease of doing business: Kuwait.
© The Peninsula 2008
