To achieve development goals, the MENA region must create three hundred million jobs, according to President of the World Bank David Malpass.
Speaking at the World Government Summit in Dubai, Malpass noted that MENA countries often fail to rise to developmental challenges, and it could have “serious implications for livelihoods and social stability across the region.”
According to Malpass, Gulf Cooperation Council countries were initially concerned about the global community’s desire to shift away from oil.
He noted that countries in the region should focus on deepening trade relationships, labor, capital mobility, investing in knowledge, and enabling a strong business environment.
He also lauded the enthusiasm of GCC countries to invest in hydrogen as promising.
Renewables can replace fossil fuels for industrial and residential electricity generation,” said Malpass.