![\"\"](\"http:\/\/sahfy.net\/news\/wp-content\/uploads\/2023\/10\/66c20d30-a0ee-4ac4-a2f5-5a54a79cb8ae-1-300x170.jpg\")
<\/p>\nQalaa Holdings Chairman and Founder Ahmed Heikal participated in the plenary session of the 7th edition of the Future Investment Initiative, titled The New Compass, in Riyadh, Saudi Arabia, on 24 October, 2023. The session, titled New Geoeconomics Strategies, was moderated by Ryan Chilcote, Special Correspondent at PBS NewsHour, and saw H.E Faisal bin Fadhil Alibrahim, Kingdom of Saudi Arabia\u2019s Minister of Economy & Planning, Ahmed Heikal, Chairman and Founder of Qalaa Holdings, William E. Ford, Chairman and CEO of General Atlantic, and H.E. Mohamed Alabbar, Founder and Chairman of Emaar Properties.<\/p>\n
The session focused on the new geoeconomic landscape and tackling growth and prosperity amid prevalent challenges, covering a wide range of topics such as innovation, digitalization and AI, social welfare, and space exploration.<\/p>\n
<\/p>\n
Commenting on the current geoeconomic situation, Qalaa Holdings\u2019 Chairman and Founder Ahmed Heikal said: \u201cThe current global situation is one of changed risk return environments, with numerous global and regional dislocations on the monetary policy, geopolitical, supply chain, and societal fronts, prompting a change in the investment world. Monetary policy changes will alter the interest and liquidity regimens around the world, while geopolitical issues are increasingly impacting global conditions. Global debt to GDP levels will also have an impact on societies, as they impact educational spending thereby limiting the advancement of human capital.\u201d<\/p>\n
Heikal highlighted the importance of creating opportunities, developing human capabilities, and instilling hope in the youth of the region by giving them opportunities for good education. He cited the success stories of youth beneficiaries of the Qalaa Scholarship Foundation\u2019s grants in contributing to various sectors and advancing development. \u201cToday, youths need hope and you cannot have hope without social mobility. Education triggers social mobility, which causes advancement, which leads to a better life. After spending five years at Standford doing my Masters and PhD. We established two foundations when I came back; one for providing Masters scholarships to the US and Europe. We have been offering these scholarships for 20 years to 270 people so far. I have seen the type of change the recipients have made after coming back from their studies.\u201d<\/p>\n
Commenting on current events and their impact, Heikal noted: \u201cIn order to promote prosperity, energy must be readily available to regular households. The Russia-Ukraine crisis has caused oil and natural gas supply shortages to the West from Russia, increasing demand on the Gulf region. As a result, Suez Canal proceeds have skyrocketed over the past two years. This has also had an impact on TAQA Arabia, which supplies energy to 5 million people in Egypt. TAQA Arabia now sees substantial potential in Africa for both electricity supply and CNG fuel for cars.\u201d<\/p>\n
\u201cTechnological advancements stemming from generative AI, which has been made possible by chip technology, will widen the gap between those who have access to such technologies and those who have yet to venture into this space,\u201d he added.<\/p>\n
Heikal continued, \u201cWe are living in an increasingly risk-prone world, but one that also promises substantial investment opportunities. At Qalaa Holdings, we are investing in deleveraging, enabling the increase of investments and returns while reducing debt-to-leverage ratios. Qalaa Holdings is currently working to enhance the size of its existing investments through expansions of its current investments and pumping new investments into Egypt. It also intends to expand the scope of its geographical reach during this year, supported by its strong technological infrastructure and the tremendous expertise of the management team.\u201d \u201cThe company’s new geographical expansions include launching operations in the Kingdom of Saudi Arabia, and enhancing the scope of its presence in Mozambique and Tanzania,\u201d he added.<\/p>\n
\u201cI am happy to have participated in this important event, which brings together policymakers and business leaders to discuss the way forward and shed light on the challenges and opportunities arising from the current environment,\u201d Heikal concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"
Qalaa Holdings Chairman and Founder Ahmed Heikal participated in the plenary session of the 7th edition of the Future Investment Initiative, titled The New Compass, in Riyadh, Saudi Arabia, on 24 October, 2023. The session, titled New Geoeconomics Strategies, was moderated by Ryan Chilcote, Special Correspondent at PBS NewsHour, and saw H.E Faisal bin Fadhil […]<\/p>\n","protected":false},"author":3,"featured_media":1819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[91,39,59,130,87,15],"tags":[1762,1000,1754,596],"class_list":["post-1818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-countries-en","category-business-economy-en","category-energy-en","category-featured-en","category-gcc-en","category-press-releases","tag-ahmed-heikal","tag-investment","tag-qalaa","tag-riyadh"],"yoast_head":"\n