JEDDAH – Prince Khaled Al-Faisal, emir of Makkah and adviser to Custodian of the Two Holy Mosques, inaugurated the Jeddah Economic Forum 2016 (JEF) at Jeddah Hilton on Tuesday evening. The opening session was also attended by Malaysian Prime Minister Mohammad Najib Abdul Razak, Minister of Commerce and Industry Tawfiq Al-Rabiah, and Sheikh Saleh Al-Kamel, chairman of the Jeddah Chamber of Commerce and Industry. Speaking on the occasion, Prince Khaled underscored the need for drawing lessons from the past at a time when the Kingdom is facing a social transition. "Today, we are in front of a fast social transition and a dreadful cultural and intellectual division. Even though most of us hold fast to ideals of moderation, there are some deviants and we have to deal firmly with them," he said. In his speech, Kamel highlighted the role of the private sector in boosting the economy at a time when the global oil prices dropped to the lowest level and the international community is involved in a fierce battle with terrorism. More than 80 high-profile Saudi and international economic experts and business leaders are attending the three-day event with the theme of "Public-Private Partnerships (PPPs): Collaboration for Impact." The Jeddah Chamber of Commerce and Industry (JCCI), is organizing the event, in cooperation with the Ministry of Economy and Planning, and the Ministry of Commerce and Industry. Delegations from more than 40 countries are taking part in the event, which coincides with the National Transformation Program, initiated by the Council of Economic and Development Affairs.
