Digital Transformation of Service Economy can Drive Growth across Middle East and Africa
Investment into digital transformation in the major cities of the Middle East and North Africa region can unlock huge potential for the service economy to drive growth and job creation across the region, according to the World Bank.
“The service industry, including through digital transformation, constitutes a new source of growth for Middle East and North Africa region, which have, for too long, relied on public spending as its main engine for growth,” said Rabah Arezki, Chief Economist for Middle East and North Africa Region (MNA) at the World Bank.
“To harness the power of external waves of technological innovation into internal sources of growth and job creation, the region needs to adapt several key areas including its internet and payment systems, its regulatory framework, its education system, its “tech state capacity” and the financing architecture for start-ups.”
Arezki will be addressing this subject in a Keynote Speech: “A new economy for MENA - how the service economy and digital transformation can drive growth and job creation across the region” at the Smart Cities Global Technology & Investment Summit 2018 in Algiers on June 27.
