Conclusion of Beirut Summit with allocating an investment fund for digital economy and cybersecurity

Date: 22 - 01 - 2019

The Fourth Arab Economic and Social Development Summit was concluded in Beirut Yesterday 21 January 2019 with the decision to establish an investment fund for the field of digital economy and cybersecurity.

The attendants, in the resolution of Beirut summit, expressed their awareness of the importance of technology and information development, and the major changes it made in regulating global economy, and the advancement it brought in the field of digital economy, which became an important engine for global economic growth. And the importance of coping with information and communication revolution for the Arab countries, emphasizing the importance of adopting preemptive policies to build the required capabilities to utilize the potential of digital economy and support special initiatives.

The investment fund for digital economy and cybersecurity was allocated with capital of two hundred Million US Dollars, and Kuwait, would thankfully be the main supporter of the fund, after collecting donations of Arab countries, valued at extra fifty Million US Dollars.

The resolution also called for the Arab countries to support this fund to contribute to improving Arab economy, and to provide promising job opportunities for Arab youth. It also called Arab banks and financial institutes to look into investing in this field to achieve the desired sustainable development in the Arab world.