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"Euro Money" in Riyadh
Published in Alriyadh on 18 - 05 - 2011

The challenge facing the world today is the economic challenges that represent the catalyst of the industrial growth, scientific innovations and the center of power in influencing and enforcement of policies. Countries with large financial power influence financially control others.
The Kingdom became one of the emerging economies centers and has attracted and engaged in partnership with foreign investment, held several major forums and joined membership of international bodies. The "diversifying Fiscal and monetary resources Euro Money" conference held in Riyadh with forty member countries and one thousand attendee figures takes considerations of the international relations to resolve crises from an international cooperation perspective, as globalization of economy has gone beyond ethnicities and geographical barriers. This resulted in many emerging countries joining the top twenty elites club and hence became part of the global financial chain.
Despite the global crises, the Kingdom had never once been needy or experienced development problems. The wise management of its resources at a steady pace and the expansion of projects in an unstable Arab countries proofs that it is taking steady steps to become one of the world's outstanding economies.
We managed to fortify the administrative and technical fields with combination of external and local expertise. A decision resulted in promoting the national cadres to prominent positions. Representation of the Kingdom in the various international financial fund institutions comes as an acknowledgement to the excellent cadres at various levels.
Moreover, the Kingdom's growing financial reserves and the substantial local liquidity, whether through massive government spending or the growing of the private sector, have led to full integration in the development process. The Kingdom, which has taken the burden of subsidies, lending and contributions to poor and needy countries has done so from a humane and Islamic perspectives with no political or social hidden agenda nor alliance with or against any other country.
The "Euro Money" is a big event which may lead to the signing of potential agreements, emerging of new ideas and concepts of a world that is trying to work out its problems by adopting an approach to contain different cultures. Overpopulation, pollution, scarcity and rising cost of resources and desertification are not confined to one particular country but rather everywhere. Such a conference should address research funding to make up for shortfalls in food, medicine and other essential resources. Otherwise, the circle will widen to the extent that we may be left unable to face the consequences.


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