Saudi Commerce Chief Urges Greater Private Sector Role for Economic Growth

Abdullah Saleh Kamel, Chairman of the Federation of Saudi Chambers of Commerce and the Islamic Chamber of Commerce and Development (ICCD), stressed the urgent need for stronger cooperation among Islamic countries and enhanced empowerment of the private sector. He argued that these measures are essential to navigate today's rapid economic changes and foster robust economic development.

Speaking at the 40th meeting of the Islamic Chamber's Board of Directors and the 72nd meeting of its Finance Committee in Ankara, Kamel highlighted Saudi Arabia's commitment to promoting economic collaboration within the Islamic world. He reaffirmed the ICCD's dedication to increasing intra-OIC trade and investment, aiming to boost economic integration and generate quality opportunities for young people and entrepreneurs.

The meetings, attended by Turkish Vice President Cevdet Yılmaz and representatives from various Organization of Islamic Cooperation (OIC) member states, reviewed several ICCD initiatives. These included the OIC Arbitration Center (OIC-AC), the Saleh Kamel Sustainable Entrepreneurship and Enterprise Development (SKSEED) initiative, and the Islamic Chamber Training Academy (ICTA). The Union of Chambers and Commodity Exchanges of Türkiye (TOBB) also shared its experiences in supporting the private sector.

Discussions also encompassed a roundtable on advancing sustainable agriculture, innovation, food security, and growth. Panel sessions focused on innovation and entrepreneurship, empowering entrepreneurs of both genders, and strengthening the capacities of chambers of commerce to achieve sustainable economic development.