NEW YORK and KUWAIT CITY, Nov. 28, 2018 /PRNewswire/ -- Today, The Conference Board expanded its global footprint by launching the Gulf Center for Economics and Business Research. The Center will provide trusted insights primarily in the areas of economics, strategy, finance, and human capital within the Gulf region to enable businesses to anticipate what's ahead, to improve their performance, and better serve society. Businesses operating in the region will make up the Center's membership. In addition to member companies receiving ongoing research and briefings, the Center will include peer networks for a range of business executives.
As part of today's launch, The Conference Board will host an event on the Gulf's economic outlook. The organization's summary of the outlook can be viewed here.
"The Gulf region is strategically situated between emerging Asia and the European continent, and has immense scope to raise its global competitiveness through diversifying its natural-resources-heavy economy," said Bart van Ark, Executive Vice President and Chief Economist of The Conference Board. "The Conference Board looks forward to pursuing its mission of engaging with businesses in the Gulf and providing them with trusted insights for what's ahead."
"From my experience, I believe that in-depth business and economic data is required now more than ever in light of the changing business environment," said Hisham Al-Razzuqi, Former Chief Executive Officer of the Gulf Investment Corporation and Chairman of the Advisory Board for the Gulf Center for Economics and Business Research. "I believe the Gulf Center will make a significant difference for the business community in Kuwait and the wider Gulf region."
The Center has received initial funding from the Kuwait Foundation for the Advancement of Sciences, as part of a three-year incubation grant, and from the Kuwait Banking Association, which will provide financial and practical support.
"I would like to acknowledge the great cooperation between all partners for making today's event possible," said Majed Essa AlAjeel, Chairman of the Kuwait Banking Association (KBA). "The Center will operate in accordance with The Conference Board's principles and provide the Gulf Cooperation Council countries with the practical knowledge they need to improve their performance and better serve society. I want to emphasize that we need this kind of focus so that we can help diversify the country's economic development to promote inclusive growth. The participation of KBA in supporting the Center comes from the Kuwaiti banks' commitment to social responsibility through serving the community."
"Realizing the centrality of business research for economic growth, and the value of data for day-to-day business decisions, KFAS decided to fund the first three years of the establishment of this Center," said Dr. Adnan Shihab-Eldin, Director General of the Kuwait Foundation for the Advancement of Sciences (KFAS). "With this funding, KFAS aims to enable a business ecosystem that is informed with the best research and to create capacity-building opportunities for the research community in Kuwait."
Like the rest of The Conference Board, the new Center is non-partisan and does not lobby. Prospective companies can learn more about becoming a member of the Center by contacting email@example.com. The media can view a summary of The Conference Board's latest economic outlook for the Gulf region here.
About The Conference Board The Conference Board is a member-focused think tank that provides trusted insights for what's ahead. We are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.
About The Conference Board Gulf Center for Economics and Business Research The Conference Board Gulf Center for Economics and Business Research is a Kuwait-based research and peer-learning organization. It provides trusted insights primarily in the areas of economics, strategy, finance, and human capital within the Gulf region.