- World Government Summit 2019 kicks off in Dubai
- UAE Cabinet Affairs Minister says governments need to change
DUBAI: Imagination and ideas are the commodities of the future, UAE鈥檚 Minister of Cabinet Affairs and the Future Mohammed Al-Gergawi said during the opening speech at Dubai鈥檚 World Government Summit on Sunday.
鈥淲hoever owns these ideas and this imagination, will own the future,鈥� Gergawi said, adding that 鈥渢he wars of the future will be on ideas.鈥�
Gergawi highlighted many factors that have put governments in the backseat of development as private sectors invest more and more into research and development programs.
鈥淕overnment, in their old form, cannot impact on the future, the private sector now impacts the future and we see this in the different economic and livelihood sectors,鈥� he said.
The Emirati minister also touched on data protection, he said private companies know 鈥渨hen we eat, when we sleep, when we wake up, where we travel and even how many beats our heart鈥檚 beat.鈥�
Speaking alongside Gergawi was the World Economic Forum鈥檚 executive chairman Klaus Schwab who also spoke of the danger of a global system 鈥渟pinning out of control.鈥�
鈥淕lobal growth is slowing down, but global risks are increasing,鈥� Schwab told a packed conference hall at Dubai鈥檚 Mina A鈥橲alam hotel, 鈥渋t is a system under stress, and the consequences are very dire.鈥�
Schwab spoke of the need to move forward with globalization, and to be 鈥渕ore sustainable, more inclusive, to be a more multi-stakeholder globalization, and to be re-moralized.鈥�
鈥淎ll stakeholders of society must play a role in globalization, not just governments,鈥� Schwab said.
On Saturday, the International Monetary Fund鈥檚 chief, Christine Lagarde, spoke of the challenges facing the Middle East, with rise in corruption, poor governance and lack of transparency.
The World Government Summit, in its seventh edition, runs for three days of high-level discussion and debate by world thought leaders from the worlds of public policy, business and entertainment.
Pakistan's Prime Minister Imran Khan, actor Harrison Ford and Lebanese Prime Minister Saad Hariri are among 4,000 delegates who will attend the three-day event, along with Estonia鈥檚 prime minister J眉ri Ratas and President of Rwanda Paul Kagame.
Apart from the politicians, the summit also brings in more than 30 global organizations such as the World Bank, the International Monetary Fund, and Organization for Economic Cooperation and Development.