www.gcf.org.sa

GCF 2011Proceedings

HRH Prince Nayef Bin Abdulaziz Al Saud, Second Deputy Prime Minister,

Minister of Interior

Under the patronage of His MajestyThe Custodian of the Two Holy Mosques

King Abdullah Bin Abdulaziz Al SaudChairman of the Supreme Economic Council

HRH Prince Sultan Bin Abdulaziz Al SaudThe Crown Prince, Deputy Prime Minister

Minister of Defense and Aviation, and Inspector GeneralDeputy Chairman of the Supreme Economic Council

Governor’s Foreword

Executive Summary

GCF 2011 Topics

Session Highlights

Inspiring Initiatives

GCF 2011 Speakers

Sponsors and Media Partners

GCF 2011 Hosts

GCF 2011 Photo Gallery

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Table of Contents5 Years of Fostering

Competitiveness

Governor’s Foreword

focus on future growth and outlined the next phase in Saudi Arabia’s drive towards competitiveness. The insights that emerged during the conference were a testament to the growth and global scale of the GCF 2011.

How does innovation affect competitiveness? How can management and policymakers encourage innovation? What tools and equipment do people, organizations and nations need to innovate up to their maximum potential?

To answer these questions, the world’s premier gathering on competitiveness challenges brought together over 2000 attendees representing 47 countries. Over 100 eminent leaders, executives and intellectuals spoke about their visionary perspectives on how to align a national competitiveness agenda with sustainability and social responsibility. Over 700 senior level delegates, including C-level executives, discussed issues

H.E. Amr Abdullah Al DabbaghGovernor and Chairman of the BoardSaudi Arabian General Investment Authority

and challenges raised. The exchange of ideas and the networking that took place at the GCF will hopefully have lasting and far-reaching repercussions on competitiveness.

While the GCF is global in scope, it has special relevance for us here in Saudi Arabia. In defining the country’s development strategy, the Supreme Economic Council, through the Saudi Arabian General Investment Authority, has committed to achieving world class economic competitiveness as the platform for enhanced prosperity.

The first phase in this competitiveness drive was called the 10x10 program. The mission of the program was to transform Saudi Arabia into one of the world’s Top Ten most competitive economies by 2010. The GCF 2011 is a celebration of the successful completion of the 10x10 program. The objective of the 10x10 was to enhance Saudi Arabia’s competitiveness. In 2006

“Saudi Arabia was 1 step below the rank of 10th (improved from 67th to 11th in 5 years), but what we have achieved is the foundation in establishing the culture of competitiveness, establishing a common language of benchmarking against best practices and indicators used by different rankings around the world.”

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the country ranked 67th in the World Bank’s Ease of Doing Business survey and improved to 11th in 2010, a remarkable success over a period of just 5 years.

The 10x10 program originated 5 years ago, when Saudi Arabia identified several obstacles to achieving long-term growth and economic sustainability. Despite the country’s robust energy sector, low levels of economic diversification, a low level of labor participation and the rapid growth in youth population were all expected to affect the economy, namely the public sector. Saudi Arabia needed to do something and the answer was to improve the country’s competitiveness.

Critical to the 10x10 program was the opening of the economy to private and foreign investors, which has led to a strong investment surge. FDI inflows during the economic crisis exceeded USD 35 billion, which showed the significant resilience of Saudi Arabia’s economy, since FDI in 2009

was only 7 percent lower than in 2008, USD 38 billion. Globally, FDI inflows for other emerging markets curtailed significantly.

Supported by this improved business environment, new ventures are attracting growing investment, providing greater employment and contributing to economic diversification, thereby enriching the lives of Saudi Arabia’s young, hopeful population of tomorrow.

This competitiveness drive does not end with the 10x10 program. The second phase of competitiveness will be the Economic Cities, which will become new benchmarks in Saudi Arabia’s competitiveness. Within the Economic Cities, a benchmark of 60/24/7 will also be established, where any government process can be completed within 60 minutes 24/7.

This is the vision of His Majesty King Abdullah, Custodian of the Two Holy Mosques, which guides our efforts.

Yet to deliver sustainable prosperity, capitalism must be attentive to social, environmental, political and financial systems, with which it is intertwined.

This imperative is reinforced daily by the pressure placed on the foundations of the world’s economic well-being. Achieving sustainable competitiveness has never been a more pressing challenge, neither for Saudi Arabia nor for other forward-looking nations.

For this reason, I am proud to present the proceedings of the Global Competitiveness Forum 2011 and invite you to join next year’s conversation, where the theme will be “Entrepreneurship”.

This is not the end of our competitiveness journey; the future will be even more interesting.

Dear Readers

The fifth annual Global Competitiveness Forum convened when the global economy showed signs of tremor, due to the economic crisis, and focused on future growth.

The conference’s theme “Innovation as a Means of Competitiveness” built on this

Executive Summary “ “In an interdependent world, innovation has to be built into the model and structure of

operationsBill Clinton

“Innovation as a Means of Competitiveness” was the theme for the GCF 2011 and dug into one of the key elements of competitiveness. The theme also serves as a segue to the next phase of Saudi Arabia’s competitiveness drive. The completion of SAGIA’s 10x10 program marks the end of the first phase of this drive. The objective of the 10x10 initiative was to enhance Saudi Arabia’s competitiveness. In 2006 the country ranked 67th in the World Bank’s Ease of Doing Business survey and improved to 11th in 2010, a remarkable

The world’s economic centers of power are changing. Emerging countries will be the driving forces of global growth in the future, as wages rise and consumption increases. The future will see the heart of the economy in the world shifting from Europe and North America to the heavily populated continents of Asia and Africa.

What effect does this have on the competitiveness landscape? Will the preference of the world’s multi-national corporations be to base their production and investment activities closer to consumers? How will competitiveness be defined in the future, and how can a country or organization stay ahead or get ahead of the curve?

The GCF 2011 thought to address exactly these questions with the theme: “Innovation as a Means of Competitiveness”.

In the future, competitiveness will be defined by a nation’s or organization’s ability to be innovative.

Innovation can have many different forms, and there exists no one definition for innovation. Former President Bill Clinton observed, that “most innovation is based on doing something old better, faster and cheaper”. In this way, innovation generates greater efficiencies, reduces resource demands and makes an enterprise more sustainable.

Innovation, as a means of competitiveness, pits one country’s knowledge against another,

success over a period of just 5 years.

HRH Prince Nayef Bin Abdulaziz Al Saud, Prime Minister of Saudi Arabia, recognized and congratulated SAGIA’s effort in his speech at the GCF’s opening ceremony. “Saudi Arabia has become a key to the stability of the world economy and this is reflected in the number of investors who are lining up to invest in the Kingdom”, said Prince Nayef.

Referring further to the increased FDI inflows, Prince Nayef said that this is a proof of the

accentuating the importance of education and higher institutions of learning. This requires education systems that provide citizens with a set of skills, applicable to tomorrow’s job industry. “We need to ask ourselves ‘what output would we like the education system to create’ not just how can we better educate our students”, said Joe Fuller.

Innovation requires an ecosystem that encourages risk and is tolerant of failure. It also requires availability of risk capital and a supportive regulatory regime.

Furthermore, it needs labor markets that are meritocratic and flexible. Innovation is inherently risky. Therefore, individuals who are innovating successfully should be rewarded or else they will be discouraged. Besides, labor needs to be flexible so that cross-learning among organizations and industries can take place more easily. The more interconnected people are towards ideas and different practices, the higher the likelihood for innovation.

Thus, what does the whole theme of “Innovation as a Means of Competitiveness” really boil down to? The theme reveals that innovation is the new word for competitiveness, since tomorrow’s competitiveness will be decided by the better ideas.

Opening Ceremony & GCF Starting the Discussion

With the economic recovery looking steady and the worst effects of the financial crisis behind us, focusing again on competitiveness is of paramount importance.

world’s faith in Saudi Arabia’s economy. “The economic reforms, that we have undertaken in the last few years, are paying off. Everyone wants to invest in Saudi Arabia because the investments are safe and risk-free. This is just the beginning. We will continue on the path of reforms and will provide more and better returns and incentives to those who are willing to invest in Saudi Arabia”.

Prince Nayef’s speech and attendance at the GCF, as well as the impact of its sponsor SAGIA on the Kingdom’s competitiveness agenda, were important recognitions of the event. Prince Nayef congratulated SAGIA for taking the lead in giving an impetus to the process of turning the Kingdom’s industrial oil-based economy into a knowledge-based economy. The Crown Prince also recognized the many individuals and organizations that collaborated with SAGIA in this competitiveness drive, presenting mementos to several Ministers attending, including:

• HRH Minister of Municipal and Rural Affairs, Prince Mansour Bin Miteb

• Minister of Justice, Mohammed Al-Issa

• Minister of Petroleum and Mineral Resources, Ali Al-Naimi

• Minister of Finance, Ibrahim Al-Assaf

• Minister of State for Foreign Affairs, Nizar Bin Obaid Madani

• Minister of Commerce and Industry, Abdullah Zainal Alireza

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Over the last four years, the Global Competitiveness Forum has focused on innovation as a means of developing competitiveness, in order to build sustainability, promote responsible development and drive economic growth. However, this year innovation takes center stage as a means to solve those challenges.

• Minister of Labor, Adel Fakieh

• Minister of Culture and Information, Abdul Aziz Khoja

And in the spirit of becoming a knowledge-based economy and living up to the theme of “Innovation as a Means of Competitiveness”, the GCF 2011 offered the latest technology, social media, and networking. The conference was paperless with participants following conference events via iPads. An iPad application, customized for the GCF, allowed for networking with peers and fellow GCF attendees, while at the same time being able to access social media outlets like Twitter and Facebook for the latest GCF news and commentary. Even though the conference has ended, these social media and networking tools remain active and up-to-date as participants, as well as SAGIA, continue to contribute content.

While the GCF 2011 may be over, the discussions and ideas it spurred continue. The over 2000 delegates, almost half of them not coming from Saudi Arabia, can now consider themselves part of a one of a kind forum and are hopefully inspired to change local, regional and global competitiveness, wherever they can.

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The global competitive landscape is shifting from one driven by a country’s natural and physical resources to one driven by competition for talent and ideas. At least, this is what speakers and participants agreed upon at the Global Competitiveness Forum – that the new competitive world will be a flat, borderless community. The evolution of communications and new technologies will only expedite this shift, forcing governments as well as organizations to become more transparent and accountable. And, what countries will be best positioned to win in this new competitive landscape? It will be the countries that have a talented, entrepreneurial workforce as well as a government that is adaptable and promotes a positive business environment.

The 10x10 initiative was the crowning achievement of this first phase of competiveness. Successfully fulfilling its objective of making Saudi Arabia more competitive and classifying the country as one of the most competitive in the world. Its success was due to a multitude of factors, none more important than the support of

King Abdullah, Custodian of the Two Holy Mosques.

In the second phase of competitiveness, SAGIA’s attention will shift to being more sectors focused and building pockets of world class competitiveness in the form of economic cities. Today, SAGIA is working on identifying and prioritizing sectors for investment that Saudi Arabia has competitive advantages in. The aim is that these sectors will attract investment, diversify the economy and create quality jobs. The Economic Cities will be the first step in promoting these sectors and will serve as a benchmark for competitiveness in the rest of Saudi Arabia. By creating pockets of competitiveness where doing business is easy and there is an excellent quality of life, the Economic Cities will attract investments in the targeted sectors.

Foreign Direct Investment (FDI) is a special focus of SAGIA and the Economic Cities because with FDI comes firm commitments from multi-national corporations to aid in the country’s development – facilitating knowledge transfer

GCF Outlook: Maintaining the Competitiveness Momentum

and building the capabilities of the local labor force. Because of this, FDI is a key enabler to diversifying the Saudi economy and driving it towards being a knowledge-based one.

Programs like Saudi Fast Growth 100, an annual ranking of Saudi Arabia’s 100 fastest growing entrepreneurial companies, will also take more of a center stage. Such companies serve not only as a benchmark for sector competitiveness, but are also role models for other aspiring entrepreneurs. With SMEs being the drivers of employment globally, focusing on the health and growth of such entrepreneurial companies will be critical to creating the 250,000 jobs Saudi Arabia needs per annum.

The GCF as well will be an organ for maintaining the competitiveness momentum with the started discussion and creation of media content. The community that was formed at GCF 2011 continues through GCF’s Twitter and Facebook pages, the GCF blog “GCF Talk” and the graphic recordings saved on the GCF Flickr channel.

And more than any other GCF conference before, the world was introduced to the GCF through the almost 20 leading media partners including CNN and Financial times. These media partners sent a total of 180 attendees, 120 of which were from countries outside the GCC. They produced 388 press releases published in 44 newspapers and conducted 68 interviews which were broadcast on 13 TV stations, 11 being international.

What does all this mean? It means the stage is set for the GCF 2012 with the theme being “Entrepreneurship”.

And what can one expect from the GCF 2012? One can expect improved and greater content, conversations to be deeper and more thought provoking, networking and social media channels will be better, and more than anything else – GCF 2012 will be held in a more competitive Saudi Arabia.

Day 1 January 23rd 2011

Day 2 January 24th 2011

Day 3 January 25th 2011

GCF 2011 Topics:Innovation as a Means of Competitiveness

January 23rd

2011

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Day 1

““

This growth will require timely decisions and careful investments to continuously fuel the economic development of the country and henceforth the prosperity of future generations

Welcoming & Networking

KEYNOTE SPEECH John Kao, Author, Founder and Chair, ILSI; Founder, i20

PANEL SESSION Innovation as a Means of Competitiveness

PANEL SESSION Innovation in Healthcare

PANEL SESSION Creative Capital

Coffee Break

PANEL SESSION Capital: Wanted

Lunch Program Most Competitive Youth Initiative

PANEL SESSION Contact: Learning from Outer Space

KEYNOTE SPEECH Nassim N. Taleb: Robustness and Fragility

Coffee Break

PANEL SESSION Shifts in the Energy Landscape

PANEL SESSION Driven By Purpose

Agenda KEYNOTE SPEECH Dr. Hashim Yamani: "From Energy to Sustainable Energy"

Gala Dinner RCI Initiative

Hashim Yamani

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January 24th January 25th

2011 2011

AgendaAgendaDay 2 Day 3 Welcoming & Networking

PANEL SESSION 10x10: A Case Study

KEYNOTE SPEECH Bill Clinton, the 42nd President of the United States

PANEL SESSIONConscious Capitalism

PANEL SESSIONRebooting Education

Coffee Break

PANEL SESSIONThe Power of Unreasonable People

Lunch Program

KEYNOTE SPEECHH.E. Adel M. Fakeih, Minister of Labor

PANEL SESSIONNew Skills for New Jobs

Coffee Break

PANEL SESSIONThe Next Big Idea

KEYNOTE SPEECHMichael Porter

Gala DinnerFDI Initiative

Welcoming & Networking

KEYNOTE SPEECH H.E. Ali Al-Naimi: “Global Energy Outlook 2011”

PANEL SESSION Global Risks 2011PANEL SESSION i20

Coffee Break

PANEL SESSIONThe Power of Social Media

KEYNOTE SPEECH Paul Hawken: “Natural capitalism”

Lunch Program

Oxford Initiative

PANEL SESSION Greenovation

KEYNOTE SPEECH Hans Dieter Pötsch, Member of the Board of Directors and CFO, Volkswagen

PANEL SESSION Innovation in Heavy Industries

PANEL SESSIONA Full Plate

Coffee Break

PANEL SESSION Cities of the Future

KEYNOTE SPEECH Jake Eberts : “Corporate Social Responsibility and the Media”

MOVIE SHOWING“JOURNEY TO MECCA” VIEWING

Gala Dinner Saudi Fast Growth Initiative

Michael Porter

“Only competitive businesses with adequate productivity can create jobs and generate income

“Session Highlights

Innovation is about change, often unpredictable change, and breaking new ground in a new way. It’s how businesses grow and nations build diverse and sustainable economies. Innovation is there as an essential ingredient for growth.“Innovation is the best way for companies as well as for countries to compete”, said David Drummond, Google’s Senior Vice President of Corporate Development. Besides, the other panelists agreed that in future, instead of competing for what a country has, countries will compete for what innovations they can create.Furthermore, in order to be competitive, companies and countries will need to create and foster an ecosystem that is supportive and capable. No one can predict the world’s next big innovation. Otherwise it wouldn’t be called innovation. All that can be done is to attend to the supporting factors.What are the key factors that help foster innovation? The panelists highlighted several key elements including: an ecosystem that fosters change, a culture of tolerance towards failure, a supportive regulatory environment and availability of risk capital. All these factors add up to creating “the environment that induces innovation” said Jim Albaugh, President and CEO of Boeing.

“We are in an era of exploding knowledge regarding innovation”, John said. He highlighted the two driving factors behind this explosion around the world - accelerating technology and a growing culture of entrepreneurship. John’s belief about these innovations is that innovation “is not just created by and for companies, but is the property of society”. The future world, according to him, is faced with great challenges that need innovation, in order to deliver solutions, which should not be the exclusive property of any particular person or organization but should be shared globally.

Keynote Speech: “The New Geography of Innovation”

Speaker: John KaoInnovation as a Means of Competitiveness

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However, John Rose, CEO of Rolls Royce, reminded the panel that “not all innovation is good innovation”, meaning that often innovations aren’t commercially viable. Jim Albaugh supported the view coming from his experience with engineers at Boeing. He emphasized that each innovation an engineer makes should be respected, in order to not discourage innovations from his side in the future. “The ecosystem should lay the groundwork for innovation, then management should allow innovators free reign to come up with ideas and to be supportive even if they fail” said Andy Bird, Chairman of Walt Disney International.Towards the end of the session, the conversation turned towards opportunities for the Middle Eastern companies and countries to become more innovative. Facts, like the doubling of Internet usage year after year or the ranking of Saudi Arabia as the first for downloading YouTube content via mobile devices, all assured the panelists that the region has a natural tendency to be innovative. At the same time, there still exist barriers to innovation in the Middle East, which need to be removed if innovation is to reach its full potential.

January 23th

2011

Day 1 “The world has changed. In history, there has never been as much collaboration as we see today. If we can share ideas and learn from each other’s experience, then our interaction here at the GCF will be much more valuable”.

Speakers

Jim AlbaughPresident and CEO, Boeing Commercial Airplanes, (BCA)

John RoseChief Executive, Rolls Royce

Andy BirdChairman, Walt Disney International

David DrummondSenior Vice President, Corporate Development and Chief Legal Officer, Google

Natalia AllenDesign Futurist

Dennis M. NallyChairman and CEO, PWC

Speakers

Salwa A.F. Al-HazzaaHead of Ophthalmology, King Faisal Specialist Hospital and Research Center

Hermann RequardtCEO of Healthcare, Member of the Managing Board of Siemens AG

Ziad AbdeenDirector, The Al-Quds Nutrition and Health Research Institute

James NakagawaCEO and Chief Care Architect, Mobile Healthcare Inc.

Delos CosgroveCEO, President and Chairman of the Board, Cleveland Clinic Foundation

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Innovation in Healthcare Creative Capital

If healthcare is the treatment and prevention of illness, what are the innovations needed, what are the health concerns and what is being done around the world to ensure better and more accessible healthcare? Estimates suggest that the world’s population is set to increase by 50% by 2050. A major part of this growth will happen in emerging economies characterized by low incomes and inadequate access to healthcare. For many, the question is not even ‘healthcare’, it’s survival.“Often the best innovations are innovations that improve processes, not innovations that invent a new drug or new piece of medical equipment”, said one panelist. Such simple things as awareness and prevention of diseases, electronic medical records and customized patient treatment are the keys to unlocking innovation in healthcare. Effective prevention is particularly relevant in Saudi Arabia, where lifestyle changes can go a long way in limiting the growth of hereditary diseases, for example diabetes. Panelists, however, conceded that preventive measures can have strong social and cultural implications. Delos Cosgrove of the Cleveland Clinic Foundation shared an anecdote about his organization’s commitment to tackling unhealthy eating habits among employees. Cosgrove’s example emphasized the role of committed leadership to achieving positive change in attitudes and behavior. Technology: new technology as well as improving the use of old technology represents another important component of innovative healthcare solutions. The panelists urged stakeholders to provide incentives for

Speakers

Jitesh GadhiaManaging Director, The Blackstone Group; Board Member, NESTA

Paola AntonelliSenior Curator, Architecture and Design, The Museum of Modern Art

Venetia PorterCurator, Islamic and Contemporary ME, The British Museum

Mona KhazindarVice-President of Al-Mansouria Foundation

Jake EbertsOscar winning movie producer, ‘Journey to Mecca’

Art does not only belong to walls and galleries but can also play a crucial role in competitive-ness by collaborating with industry, academia and business. This was concluded by the panel “Creative Capital”, in which Paola Antonelli, Jake Eberts, Jitesh Gadhia, Mona Khazindar and Venetia Porter presented their views.According to a report by UNCTAD, the creative economy is an emerging concept dealing with the interface between creativity, culture, eco-nomics and technology. The potential for these industries – museums, visual arts, design and architecture – to generate socio-economic growth and development is being validated by GDP and employment numbers. Mr. Ebert reflected on the process of raising capital for his first film. He used his experience to illustrate how business philanthropy has the potential to turn creative ideas into powerful cultural forces, noting “we are able to develop a sense of identity because of social interac-tions”. Mr. Gadhia coupled Mr. Ebert’s com-ments with his point of how innovation and

artistic creativity go hand in hand while provid-ing practical suggestions for the way that arts can fuel private-sector competitiveness.The audience was treated to an educational slideshow depicting various types of public art presented by Ms. Khazindar. She used these examples to demonstrate the crucial role that aesthetics play towards driving development and creative competitiveness. “The environ-ment we build around us is so important in in-fluencing our attitudes and perceptions on any given day…”. For anyone interested in owning a piece of this creative capital, Ms. Porter provided an over-view of important contemporary Saudi artists, such as Manal Al-Dowayan, who is supported by the Edge of Arabia platform to promote Saudi art.

physicians and hospitals, in order to abandon their paper systems and adopt electronic medical record keeping. James Nakagawa, from Mobile Healthcare Inc., inspired the panel by providing an example of “life-watcher” technology, which allows a patient to monitor his/her lifestyle as a means to promote preventive health. Gathering and processing such patient data effectively will help physicians tailor more effective treatments to their patients. What about the rising cost of healthcare that dramatically increases the disparity between rich and poor? Innovations in this field can have the greatest impact and reverse the trend. Innovations in the way healthcare providers deliver treatment, measure outcomes and share information needs to be improved. Greater transparency as well as maximizing value for every healthcare dollar spent is a first step.Besides, innovation in healthcare isn’t a one-way street either. The developed countries are already teaching the developing countries how they can deliver and treat patients for less. Whether it is by using mobile phone technologies to alert healthcare suppliers when a hospital’s supplies are running low or by having remote blood testing stations for malaria, where information is sent via satellite to a doctor sitting anywhere in the world and to mobile clinics that reach rural areas.The possibilities are endless but there is pressure. If the future world hopes for peace and stability, it cannot continue to have great disparities in healthcare, as it is present today.

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Capital investment is the life blood of economic growth and innovation cannot be supported without it. Therefore, if Saudi Arabia and the region aim at becoming more innovative, they will need to attract capital investment and this means reforms. Addressing the changing global investment landscape, panelists discussed how the current economic environment presents an opportunity for reforming and advancing the Middle Eastern financial markets. The economic crisis has created the political will for change as regards regulations and government policies, that until then may have stayed unquestioned. Insolvency laws and limited access to bank lending for SMEs could all be addressed, creating a market of the future that can innovate and create real jobs and novel industries. A reformed regulatory regime would also “instill the confidence about the region and unlock the region’s full investment potential”, says Saeb Eigner. While the rest of the developed world is on the road to a slow recovery based on fiscal stimulus, the Middle East can capitalize on its strong fiscal position and regulatory reforms, in order to attract investment.

Capital Wanted Learning from Outer Space

The Middle East is also pressed for these reforms by the region’s bulging youth population. Over 50% of the Middle Eastern population is under 21 years of age, and the region’s economies are struggling to create the jobs needed to employ this next generation. The example of Tunisia should not go unheeded. While using the Tunisian example as a precursor for what is to come in the rest of the region is incorrect, it is yet an indicator for the need for reforms that increase employment and change the way business is done in the Middle East.As the region reforms its regulatory regime, Ulf Henriksson had two pieces of advice that policy makers should keep in mind to “create the best future market possible”:Availability of capital and risk assessment should be aligned so that the cost of capital is as low as possible.Different types of investment products and a diverse lender base should be encouraged to allow new types of innovation to flourish.In the end, the panel concluded that the Middle Eastern capital markets are already bright, but more should be done to make them shine brighter.

The unconventional and highly relevant topic of extraterrestrial life forms was addressed by the panel discussion “Contact: Learning from Outer Space”. Experts Zoaghloul El-Naggar, Stanton Friedman, Michio Kaku, Nick Pope and Jacques Vallee showed compelling cases for the existence of living beings elsewhere in the galaxy, drawing upon empirical evidence, religious theology and logical reasoning.Psychological and socio-cultural assumptions and preconceptions constrain us to a large extent and shape our views of the universe so that we are inclined to find what we are looking for and fail to see what we are not.“Flying saucers are real!” Mr. Friedman boldly said in his opening remarks. All the panelists seemed to agree and share his perspective. However, while Mr. El-Naggar was also convinced of extraterrestrial existence, he remarked that it may not be ethical to spend

resources trying to contact alien societies when the world is still faced with war and poverty.Mr. Pope explored the potential business implications of outer space, such as the profitability of alien branding or sponsorship. A 1980’s CocaCola commercial featured aliens downing the refreshing liquid…this might not be so far-fetched.Mr. Vallee encouraged more academics to analyze the evidence. However, on behalf of his successful Venture Capital fund, he said: “We are not ready to invest in this type of research, but we think that somebody should. The search for living beings on other planets could be a huge benefit to our intellectual and technological development – regardless of the actual existence of extraterrestrials”.But whether there is extraterrestrial life or not, we will continue to wait for first contact.

Speakers

Jacques ValleeGeneral Partner, SBV Venture Partners

Michio KakuProfessor of Theoretical Physics, City University of New York, Host of Sci Fi Science on the Discovery/Science TV Channel

Nick PopeAuthor, Journalist

Zaghloul ElnaggarProfessor of Earth Science and Geology, Supreme Council of Islamic Affairs

Stanton T. FriedmanNuclear Physicist, Lecturer, AuthorSpeakers

Arif NaqviFounder and Group CEO, Abraaj Capital Limited

John A. FraserChairman and Chief Executive Officer, UBS Global Asset Management

Saeb EignerChairman, Lonworld

Ulf HenrikssonChief Executive Officer, Invensys

Victor ChuChairman, First Eastern Investment

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Claiming that society’s reliance on future forecasts increases fragility, Nassim N. Taleb discusses in his book “Black Swan” the concepts, including how to make systems less fragile. Nassim’s belief is that fragility is linked to volatility and that there are two types of it: short and long volatility.Short volatility is a system that returns positive results for a short period of time before producing a negative result. An example of short volatility is the profits of a company; the company makes money for a number of years, but also loses money when there are downturns in the economy, which happens with a high frequency.

Keynote Speech: Robustness and Fragility

Speaker: Nassim N. TalebShifts in the Energy Landscape

Natural selection is the opposite of company profits and an example of the second type of volatility, the long one. Long volatility is something that involves a small loss, normally stemming from so-called redundancies or inefficiencies, but that has a large “pay-off from mishandling”. Returning the example, natural selection is improved by genetic randomness because it serves as a selection process for the strongest and most robust organisms.However, while Nassim dismisses future forecasts as society’s weakness, he did make one prediction, saying: “I don’t know what will happen in 20 years, but i can predict what will not be there in 20 years, and i can predict what will break”.

Most probably, no sector of the global economy is more fundamental to the future than energy, nor is there any other sector with a more complex and controversial set of variables to negotiate. Transformations in the energy space are being characterized by an increase in diversification and the use of technologies to develop clean energy, agreed the panelists. With energy becoming a hot and controversial topic, center stage technological advances, environmental impact and renewable energy development need to be accelerated to create a future where energy security and harmony are established components.Joe Stanislaw, of the JAStanislaw Group, declared that a new shift towards “technology gain” represented a positive social transformation in energy. As Stanislaw argued, the future is “clean”. Panelists agreed that countries must work towards driving technology to promote clean energy. Sandra Wu, of Koksai Kogyo Group, urged Saudi Arabia to utilize advanced Geographic

Information Systems (GIS) to build solar power plants. Wu affirmed that through the use of satellite technologies in selecting land and positioning solar panels, Saudi Arabia would be able to maximize the productivity of its plants.Other panelists hailed nuclear as the energy of the future and as a key source of low carbon electricity generation. On this point, panelists lauded Saudi Arabia for investing in nuclear energy and instructed countries to continue diversifying their energy portfolios through strategies that better integrate energy production with the needs of local communities and the environment. Panelists ended by concurring that energy, food and water are deeply interlinked and must be considered together, as they are driving economic and social development. To support sustainable investments in energy, however, governments need to maintain stable policies that promote political and regulatory stability.

Speakers

Sandra WuPresident and CEO, Kokusai Kogyo Group

Joseph A. StanislawFounder, The JAStanislaw Group LLC

Anne LauvergeonCEO, Areva

Tom AlbaneseChief Executive, Rio Tinto

Atul PunjChairman, Punj Lloyd Ltd.

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Driven by Purpose

If there are heroes, there are needs. Continuing population growth, rising energy demands and costs, increasing global inequity and poverty, increasing global competitiveness and the growing impact of climate change mean that a new generation of innovative and influential leaders must arise to create solutions to these challenges.An inspiring session, called “Driven by Purpose”, addressed the matter of the power and increasing popularity of new business models of social entrepreneurship. These have the potential to provide solutions to these issues. Calvin Chin, Mohammed Rezwan, Jack Sim, Rahul Singh and Rory Stear provided firsthand accounts of their experiences contributing to this inspiring new trend. Each of the five entrepreneurs discussed, how they managed to challenge the status quo that they found around them, in order to make their enterprises as sustainable as possible for all stakeholders, in contrast to a “one-off support model”.

Mr. Chin discussed his innovative online donation mechanism, which has improved the educational opportunities for many Chinese students. While Mr. Rezwan described how initial good faith by investors can generate a self-sufficient business, if fostered correctly. The viability of highly profitable ventures, which also contribute to the community, was attested by Mr. Sim’s experience. At the same time, Mr. Singh described, how his powerful business idea sprouted only from a volunteer aid mission.Wrapping up the session, Mr. Stear emphasized the need to use social businesses to fill crucial gaps in social and economic development, which are caused by the massive inequality that plagues today’s world. These five distinguished leaders are emblematic of social entrepreneurship’s many forms. At the core of them, there is a sense of altruism and community-building, rather than just a pure profit motive.

Speakers

Rahul SinghFounder and Executive Director, GlobalMedic

Jack SimTime Magazine as Hero of the Environment 2008; Founder, World Toilet Organization

Rory StearExecutive Chairman, Flambard Holdings, TIME Hero

Calvin ChinCEO, Qifang

Mohammed RezwanExecutive Director, Shidhulai Swanirvar Sangstha

Dr. Hashim Yamani, head of Saudi Arabia’s newly established King Abdullah City for Atomic and Renewable Energy (KACARE), outlined the Kingdom’s mission to shift its energy generation capacity towards a more sustainable platform and become a global leader in alternative energies.The well-funded KACARE is to serve as the regulator and promoter of alternative energies in the Kingdom. KACARE’s mandate is both bold and forward-looking. KACARE is to immediately start working on nuclear power generation and developing an energy strategy for Saudi Arabia that not only addresses the country’s energy needs but also helps develop its economy. Localizing production of key component parts for nuclear, solar, wind and other alternative energies will be a top priority.Dr. Yamani outlined that aside from nuclear power being a top priority, solar power generation is to be launched in the Kingdom shortly. With some of the most intense levels of solar radiation in the world, Saudi Arabia could be one of the most productive solar generating countries in the world. But

Keynote Speech

Dr. Hashim Yamani

KACARE will go further, because Saudi Arabia’s competitive advantages extend beyond just generating solar power into producing the key components that make the technology possible. Photovolaic solar technology, one of the two technologies available for commercial solar power generation, uses solar panels made of polysilica and glass both of which Saudi Arabia has in abundant supply. In 2011, KACARE will be developing a strategy for how to exploit this competitive advantage for the benefit of the Kingdom.Closing his remarks, Dr. Yamani outlined the core reasoning for the launch of KACARE. Aside from the fact that alternative energies will become the way of the future globally, Saudi Arabia is increasingly consuming its oil and gas resources for the generation of power, and the situation is getting worse. At current rates, Saudi Arabia will soon consume more than half of the oil it produces, leaving the Kingdom with less and less vital oil revenues. This is undesirable, so the Kingdom will look towards alternative energies as the way forward.

“The world’s economic power is moving away from the developed world to the emerging markets of Asia and the Middle East”, argued H.E. Ali Ibrahim Al-Naimi, Saudi Arabian Minister of Petroleum and Minerals. He gave a speech entitled “Global Energy Outlook 2011”, in which he discussed the global energy supply. The world’s economic power is moving away from the developed world to the emerging markets of Asia and the Middle East, where Saudi Arabia stands ready to bear the responsibility of being the world’s leading producer and provider of

energy to world markets. H.E. Ali Ibrahim Al-Naimi outlined Saudi Arabia’s energy policy in eight main drivers which inform about all the country’s policies including: Moderation

• Cooperation with the rest of the world in all aspects

• Global Oil Market Stability

• Serving the Local Market

• Focus on HR Development

“The Saudi Arabian oil industry is a model of excellence in advanced technology and human talent.”

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Keynote Speech

H.E. Minister Ali Al-Naimi

• Concentration on Environmental Protection

• Focus on Technology

• Looking at Oil as part of the larger energy market

He did warn, however, of the threat that the casino culture of the world’s commodity exchanges and future markets remains a constant threat to price stability, despite solid fundamentals of a robust industry.The significant advances in the nation’s oil sector were summarized by H.E. Ali Ibrahim Al-Naimi, when he said that “the Saudi Arabian oil industry is a model of excellence in advanced technology and human talent”. Furthermore, he said that “the industry is one of the leading supporters of Saudi Arabia vying to become one of the world’s most competitive economies”.

While the global economy is on its way to recovery, challenges and risks remain, as the world enters 2011. Mohammad Al-Jasser, Tony Blair, Jean Chretien, Caroline Daniels, Carlos Moreira, and James Turley echoed a positive but cautious economic outlook for 2011. As stated by Mohammad Al-Jasser, “recovery, while promising and optimistic, will be fragile, sluggish and uneven”, as the developing countries continue to see stronger growth than the Western countries.“We now are beginning a new chapter in the world as we begin to come out of the crisis. And in this world, a few principles are critical to ensure a prosperous world, they include: trust collaboration, cooperation, optimism and empowering the entrepreneurial spirit”, said Tony Blair. Mr. Blair also expressed his fear that in times of recovery countries often go their own way, but moving forward it is “critical that we manage these challenges that led to crisis in a spirit of cooperation, not competition”. The world needs to “heed the lessons learned from the crisis”, or the lessons learned will be in vain.Jean Chretien and James Turley reinforced this idea of togetherness, by highlighting the importance of promoting optimism within the economy through empowering the citizens of

Global Risks 2011

the world. Mr. Chretien, citing examples from his past, believed that confronting financial risk with the underlying “notion to make the populace feel optimistic” will lead people to consume and promote a growing economy. James Turley paralleled the importance of the individual, by noting that “there is a major risk that entrepreneurs stay on the sideline and not get back into the game”. In order to overcome this problem, he outlined a number of approaches that both government and companies can take to continue to encourage economic growth in the coming years.However, the world still faces global risks in the medium to long-term. As the world’s developing countries’ populations grow, food production and stability will become increasingly important to avoid food inflation. Besides, food stability promotes political stability. Efforts to improve food efficiency, especially in distribution, can have an immediate impact on relieving these price pressures. For the recovery to continue beyond the near-term these, and other global issues like global warming, will need to be addressed.

January 24th

2011

Day 2

Speakers

Tony BlairFormer Prime Minister of the United Kingdom

Jean ChretienFormer Prime Minister of Canada

James TurleyChairman and CEO, Ernst and Young

Dr. Mohammad Al-JasserGovernor of the Saudi Arabian Monetary Agency

Carlos MoreiraFounder and Chairman of the Board, WISeKey

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New media, along with the increasing reliance and harnessing of social media to create and disseminate content, has enabled the instant accessibility of information. With that, increased interactivity relating to content creation, publishing, sharing, feedback devices and transcendence for geographical boundaries has created a new paradigm for media consumption. Technology is helping people connect to real services at faster and faster speeds.The panel, the “Power of Social Media”, was one of the most intriguing panels of the GCF and had some of the most diverse range of speakers, from the Director of Google Ideas to a current senator of Northern Ontario. The conversation started on a forward-looking note from the Director of Google Ideas, Mr. Jared Cohen. The growth of mobile technologies and internet access over the last 10 years has been phenomenal Cohen said, but he highlighted that future opportunities will be even more phenomenal, especially in underserved and less developed countries. Human beings, he concluded, are becoming “addicted to technology”, and this is opening a new frontier of connectivity and potential for innovation around the globe.

In Paul Hawken’s keynote speech on “The Red Queen Dilemma” he spoke about the problem of global sustainability from a unique and refreshing perspective. In his quest for understanding energy consumption in the world today, Paul Hawken confronted example after example of how the world is facing diminishing returns in energy harvesting. He identified, that “one of the largest new oil reserves in the world today has taken decades to be exploited and will only last the world 15 months”. In addition, Mr. Hawken expressed the difficulty of meeting the necessary carbon reductions over the next twenty-five years based on current energy technologies, stating that we would have to “create a 100 mega-watt geothermal power plant every day for the next twenty-five years” to meet carbon reduction targets.

Power of Social Media Keynote Speech: Natural capitalism

Paul HawkenThe panel also spoke about the innovative nature of social media. Martin Dickson, from the Financial Times, noted how his company’s business model has had to be adapted in the face of a new threat, free news. The three keys to the new model that he emphasized are speed, interactivity and low barriers to entry. David Eilenburg stressed the importance of new businesses being able to act globally but provide locally relevant content. The panel concluded with a discussion on privacy protection and security. Senator Poulin agreed that the discourse has to center on a greater role for society in how information is broadcast through new social mediums. Chrystia Freeland, from Thomson Reuters, noted an example of a primary school that proctors its students’ activities on Facebook. The conclusion reached was that a rising threat of security could only be combated with technology that monitors and assesses these treats.

Speakers

David EilenbergHead of Development and Current Programming, Mark Burnett Productions

Marie PoulinSenator for Northern Ontario, Canada and Counsel at Heenan Blaikie LLP; former VP of CBC

Jared CohenDirector, Google Ideas

Eric TsaiChief Executive Officer, eriQoo.com

Martin DicksonDeputy Editor, Financial Times

Chrystia FreelandGlobal Editor-at-Large, Thomson Reuters

Currently, producing output requires greater resources (be they foods, minerals, or the use of soils) than in the past to harvest the same output, “reversing the trend of productivity since the industrial revolution”. The consequences are immense.To Mr. Hawken, the dilemma is to recognize that the world is an interdependent island where the current methods of harvesting resources are unsustainable. While not offering a solution, a first step would be to understand our actions within the context of a global system that is interdependent. Only then, does Mr. Hawken believe we can begin to consume and innovate for a sustainable world.

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“Our world is in need of new designs and technologies to run our planet”. In order to reach humanity’s full potential, we must focus on building sustainable systems and energy production, which will both preserve our environment as well as create massive efficiency gains that will impact the global economy. The Greenovation panel addressed the power of ‘Green’ as the most relevant global issue in a world, which is increasingly populous, connected and wealthy. Joseph Adelegan, Janine Benyus, Paul Hawken and Nicholas Parker drew on their wide-ranging firsthand experience in marrying the profit motive with the pursuit of a sustainable and efficient world economy.What constitutes ‘Green’ has evolved along with our understanding of nature and its design principles. Whereas ‘Nature’ and ‘Culture’ were once thought of as opposing forces, new disciplines are emerging that reveal the potential nature offers as the best guide to

In Hans Dieter Pötsch’s Keynote speech, “VW 2018: How to Achieve Global Car Manufacturer number one”, he outlined a bold strategy to become the dominant car manufacturer in the Middle East and the number one automotive company by 2018. This strategy will be underpinned by innovation, environmentally friendly practices and taking advantage of the region’s expanding markets. To realize this goal, VW must ensure a steady stream of new models to keep customers buying. To support its steady stream of models and keep production costs low, VW has created a highly modular production line. They are able to distill cars down to a set of key similar parts that can be used across a wide range of products. This has reduced unit cost by 20%, one-off expenditures by 20% and engineering hours per vehicle by 30%.

Greenovation

finding innovative and sustainable solutions to human problems.Mr. Adelegan discussed the variety of practical and workable solutions to the world’s coming waste management crisis, with both biological and technological approaches. “There is the ability to use things we engage with every day – nature – in order to draw inspiration for more effective and powerful technologies, systems and tools”, said Ms. Benyus. She provided several eye-opening examples. Mr. Hawken criticized the massive amounts of toxic byproducts created by our existing energy and economic infrastructure, including so-called renewable energies like solar and wind.Ending on a hopeful note, the panel talked about how investment capital has seemed to recognize, the power of ‘Green’. Everyone recognized, that the power of capitalists behind ‘Green’ would accelerate technology development and adoption.

As the company focuses on its expansion into the region, becoming green is also an imperative – and the company does not believe this is at odds with speed and design. The Porsche Spyder 918, a new model by the VW subsidiary, is a highly efficient hybrid sports car that has utilized the latest technologies from across the conglomerate to produce a next generation product. Simply put, VW believes “green and fast are not at odds”.Lastly, VW believes that emerging markets can fuel their growth in the coming years, allowing them to become a truly global car company. In particular, they believe they have the product line necessary to succeed in Saudi Arabia and will leverage these product lines to expand its footprint into the region.

Speakers

Joseph AdeleganPresident, Green Globe Trust and Founder, Global Network for Environment and Econonmic Development Research, Green Power Partnership Limited

Paul HawkenCEO, OneSun

Janine BenyusFounder, Biomimicry Guild, TIME Hero

Nicholas ParkerExecutive Chairman, Cleantech Group LLC

How to Achieve Global Car Manufacturing

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Innovation in heavy industries has allowed us to create materials, products, structures and equipment at a fraction of the costs, labor and energy incured in the past. Every advancement in resource-intensive industries has a significant impact on a value-chain, that in the present day spans several continents. Even at the base of the value chain, companies are focusing on the powers of innovation.“Innovation is possible in the industrial sector as long as the correct mechanisms are put into place to incentivize employees and management alike to think about innovation”, said Thomas Connelly. This was the consensus among some of the world’s top industrial CEOs on the panel, titled “Innovation in Heavy Industries”, in which Mohamed Al-Mady, Jean-Pierre Clamadieu, Thomas Connelly, Jean-Pascal Tricoire and Alberto Pirelli gave an overview of their strategies for innovations in their respective fields.Several methods were put forward by the panel. Mr. Clamadieu proposed, that “setting

Innovation in Heavy Industry A Full Plate

clear goals for innovation and for clean targets like CO2 reduction is very important, in order to achieve the results you want from your staff”. “There is huge potential for efficiency gains and cost savings by adjusting the material makeup of industrial products and consumer goods alike”, said Mr. Kleinfeld, specifically referencing aluminum.Mr. Tricoire verbalized an opinion that seemed to be present across the panel, when he mentioned that the world’s new economic powers are much more innovative and determined than the developed world. This factor is reshaping the competitive landscape of the global economy.Finally, for those managers aspiring to achieve the next level in innovative technologies in their fields, the most practical advice came from Mr. Clamadieu, who advised: “you don’t frame the innovation on the how, you frame the innovation on the what”.

Food has taken center stage over the past few years, with issues running the gamut from the necessary to the more indulgent. With the desire to produce food cheaply and quickly, the quality has become questionable and the supply is grossly lacking, and a global food shortage seems to be looming on the horizon. In light of the current fragile demand and supply situation, a sense of seriousness and urgency came out of this panel as the important issue of food security was discussed. The distinguished panel highlighted the shortage of food for the next generation, if new, more efficient practices are not adopted. The panelists gave quick summaries of their work experience and how this will resolve the problems of a global food shortage. The entire panel agreed that there was not one easy fix and not one organization that can be responsible, but rather a collaborative effort from governments, non-profits, and individuals is needed.The conversation was started by Mr. Jason Clay, who spoke of his experience with the WWF, working with major food producers (large corporations), to stop deforestation in production processes. Mr. Clay warned that current production practices will not

satisfy future food demand. “Sustainability is a precompetitive issue”, he said, which resounded well with the audience. Mr. Jian Kang Zhu, a researcher and professor from KAUST, is at the forefront of genetic plant engineering. He described the positive effects that technological advancements have had on his own hometown in China. Innovations have come from both genetic engineering and process management. He emphasized that these innovations need to continue into the future, regardless of social taboos. According to Mr. Zhu, 70% of plant production is lost due to abiotic factors. Maximizing plant production through the control of biotic factors was at the heart of Steven Smith’s presentation. He showed a video of a company, Verticrop, engaged in these practices. Verticrop uses innovative computer software to track and maximize plant production. Verticrop can produce the same crop yield with 90% less water and only a fraction of the land. So while the risk of food insecurity is high and needs to be addressed, the panelists expressed hope that their work along with the work of many others will aid in finding a solution.

Speakers

Richard JeffersonFounder and CEO, Cambia

Jason ClaySenior Vice President Market Transformation, World Wildlife Federation

Stephen Kennedy SmithPartner, Valcent, Trustee, Kennedy Enterprises

Jian-Kang ZhuDirector, Plant Stress Genomic and Technology Research Center; Named Professor, Molecular Biology and Plant Physiology,

Speakers

Klaus KleinfeldCEO, Alcoa

Jean-Pascal TricoirePresident & CEO, Schneider Electric

Thomas M. ConnellyExecutive Vice President, Chief Innovation Officer, Dupont

Alberto PirelliMember of the Board of Directors, Pirelli

Mohammed Al-MadyVice Chairman and CEO, Saudi Basic Industries Corporation (SABIC)

Jean-Pierre ClamadieuChairman and CEO, Rhodia Group

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The quest for a utopian city has yielded varying degrees of success and failure, yet attempts continue. The fundamental building blocks required for developing a city for the future include social capital, information and technology, infrastructure, culture and leisure. Additionally, creating environmentally sustainable communities, integrating a sensitivity to local traditions and values within a modernized infrastructure and encouraging an organic culture to unfold, are essential.In the panel “Cities of the Future” Wim Elfrink, David Gensler, Mohanud Helal, Timothy Hester and Thomas Krens outlined the integral components needed to create future cities that are more innovative and sustainable. These integral components include advanced technologies, forward-thinking architecture, culture, rule of law and an empowered government and regulator. Each of these integral parts aids in increasing interconnectivity and productivity.

Many countries are now reaching for the high ground of innovation as an outcome of national policy and investment. They are motivated by the perception of important links between the capability to be innovative on the one hand and economic growth, competitiveness and job creation on the other. However, there is no “one size fits all” approach, since nations tend to view innovation with their own definitions, concepts, resource bases, history, culture, national vision, best practices and strategies. The benefit of these diverse national approaches to innovation lies in enabling new business models, modes of international collaboration and concepts of competition.But the nation’s question about which innovation platform to choose and build is a difficult one, which several inspired policymakers have endeavored to solve. Distinguished experts and government officials in the session “i20”, including Alfonso Martinez Cearra, Rod Glover, Mike Hughes and John Kao, participated.Mr. Kao defended the American reverence for risk-taking as an enabler to innovation but cautioned his country, saying “the United States is the one place in the world where failure is forgiven, however it has taken its foot off of the pedal in terms of continuing that”. Besides, Mr. Kao said “it is a lot easier to change a society where you are starting from a blank sheet of paper as opposed to being an advanced economy

Cities of the Future

Timothy Hester promoted the rule of law as it “reduces risk and promotes certainty, which is a critical lever to attract talent and produce in-novation”. However, rules alone will not attract these innovators to cities, noted Thomas Krens, who highlighted the importance of culture as “what attracts people to cities and what brings them together to promote innovation through collaboration”. Effectively investing in these integral components will allow future cities to provide high quality of life to citizens and meet growing demand, as the trend towards urbanization accelerates.

where structures first need to be broken to be rebuilt”. The country needs to get “back on the wagon” of innovation and President Obama’s State of the Union address would hopefully provide a “wake-up call”.An inspiring concept of the “quaternary sector”, beyond primary, secondary and tertiary economic phenomena, was described by Mr. Cearra, who said that less developed countries would have the ability to “leapfrog” to this sector and skip the many mistakes the West has made on the path to industrialization. Public-Private partnerships (PPP) are just one example where the developing countries are learning from the developed ones. PPP makes better use of capital and can be an incredible power for development.While Mr. Glover warned that we are facing a “wicked world of new risks” requiring new solutions, Mr. Hughes put forward his view that “the application of science technology and innovation is indispensable. However, governments around the world are still using outdated Keynesian models of innovation, which are entirely inappropriate for the world today”.Ultimately, many important lessons can be drawn from the experiences of others. However, said the panelists, we must remember that innovation is a tool to wider development goals, not the endgame.

Speakers

David GenslerExecutive Director, Gensler

Thomas KrensFormer Director, Solomon R. Guggenheim Foundation; Senior Advisor for International Affairs, Solomon R. Guggenheim Foundation

Mohanud HelalSecretary General, Economic Cities Authority

Timothy C. HesterChairman, Management Committee, Covington & Burling LLP

Wim ElfrinkExecutive Vice President, Cisco Services & Chief Globalization Officer

Speakers

Rod GloverEconomic Strategy Consultant, Melbourne, Australia

John KaoAuthor, Founder and Chair, ILSI; Founder, i20

Alfonso Martinez CearraDirector, Bilbao Innopoli

Mike HughesAdvisor Science, Technology and Innovation, Ministry of Education, Rwanda

Keynote Speech: Corporate Social Responsibility and the Media

Jake Eberts

Jake Eberts, the renowned movie producer, took the opportunity of the GCF 2011 to showcase his latest production, “Journey to Mecca”. The film tells the story of a young boy, determined to travel to Mecca from Morocco on a pilgrimage. Along the way he faces numerous hardships and challenges, is met by friend and foe and finally completes his mission by arriving in Mecca.The film is the definition of responsible media and uses the opportunity media provides to make an impact on society. Made for English speaking audiences, “Journey to Mecca” is meant to develop an appreciation for Islam and engender cross-cultural understanding. Mr. Eberts’ intent in making the film was to close the perceived cultural divide between East and West by creating a more accurate and informed view of Islam in the minds of English audiences. The film highlights for all of us that we share “the same stars, the same moon and the same cultural warmth”.

And it is yet another example from Eberts of leveraging film to develop cross-cultural understanding. Mr. Eberts, a Canadian, believes in and has lived out corporate social responsibility in media. “Storytelling is the root of everything”, and stories, especially if it is a story told through film, can bring people together by common understanding. “Journey to Mecca” is just Eberts’ latest creation that follows this creed. “We have a responsibility to sponsor and tell films that affect social change and do what’s good for all of us”, says Eberts. He should know. Eberts’ movie producing career has had its highs and lows including near bankruptcy, but Eberts always stayed true to this core belief in telling stories that weren’t being told. He took controversial stands on movies like “The Killing Fields” or “Dances with Wolves”. “We need to actively support responsible media, even at the expense of making money”, he says.

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“10x10: A Case Study” highlighted Saudi Arabia’s competitiveness drive and in particular, the efforts of SAGIA through the 10x10 program. “5 years ago, Saudi Arabia identified several obstacles to achieving long-term growth and economic sustainability. Despite

its robust energy sector, low levels of economic diversification, low level of labor participation and the rapid growth in youth population were all expected to affect the economy, namely the public sector”, said H.E. Amr Al Dabbagh, as he recounted how the idea for 10x10 originated. Saudi Arabia needed to do something and the answer was to improve the countries competitiveness. Only four years later, Saudi Arabia is standing on an excellent foundation of competitiveness improving to 11th in the Ease of Doing Business Ranking and 8th in global inflows of FDI. Besides, 10x10 has been at the forefront of the reforms necessary for this increase in competitiveness.To enact reforms and promote targeted investments in key sectors, the National Competitiveness Center (NCC) at SAGIA was launched under the auspices of HM King Abdullah, Custodian of the Two Holy Mosques. The NCC has proven to be a significant stakeholder in King Abdullah’s stated vision

“In an interdependent world, innovation has to be built into business models and operational structures”, said the former President of the United States, Bill Clinton. Furthermore, he spoke about innovation and competitiveness around the globe and how it all relates to Saudi Arabia. “Often the best innovation isn’t sexy but rather just doing what we already do better”, the former President said acknowledging the fact that innovation doesn’t just come from a laboratory. “The iPad is an incredible innovation, but only 15% of the world’s population has the capabilities to use it. Truly impactful innovations touch the world’s population”.The former President also talked about how a new kind of capitalism is needed in the world, one that can create shared value for all stakeholders. “We have to create an economy of shared value, we have to build into our economic policymaking the idea that we are creating a future where a broadening group of people will wake up in the morning and feel good about the day ahead of them – feel fulfilled and dignified”.Speaking from his own experience working

with his foundation, the Clinton Foundation, the former President spoke about the everyday innovations he has seen in some of the poorest places in Africa. Whether it is the distribution of medical and food supplies, using mobile phone technology more effectively, or leveraging the power of micro financing, innovation is occurring at the grassroots level. Often, the one-time President said: “I believe sub-Saharan Africa can be a model for innovation in the developed world. It’s the environment of sub-Saharan Africa that encourages one to innovate just to survive and this is something that the developed world has lost”. He further went on to say how he supported President Obama’s State of the Union address on the competitiveness of the USA saying: “We can not continue with business as usual. We need to stay ahead of the competitiveness curve”.In closing, former President Clinton encouraged Saudi Arabia and SAGIA to continue looking towards the future and building a business environment that creates an environment conducive to innovation and boosts competitiveness.

“We need to use the resources underneath the ground to create more opportunities for those people that are on top of it.”

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10x10 Case Study Keynote Speech

Bill Clintonto make the Kingdom of Saudi Arabia a more diversified and knowledge-based economy.Robert Reynolds identified the benefits the 10x10 program has had on himself and his investment company in terms of their view of Saudi Arabia’s economic diversification, openness to new ideas and hunger for continued improvement. Deborah Wince-Smith, President and CEO of the USA’s Council for Competitiveness, spoke about how even the USA is constantly battling to maintain a competitive advantage. “The USA needs to rebuild its manufacturing sector, which many service companies serve”, she said. “Focusing too much on services, as the USA often does today, will prove unsustainable”.The foundations have been laid and SAGIA has created an exciting business atmosphere in Saudi Arabia. “The successes of Saudi Arabia today point towards a prosperous future”, said Mr. Reynolds. “And what surprises me the most is SAGIA’s refusal to never be satisfied. With this attitude there is no doubt that there will be success in the next chapter of Saudi Arabia’s competitiveness”.However, while H.E. Amr Al Dabbagh lauded the achievements of the NCC, he said “this is not the end of our competitiveness journey; the future will be even more interesting. The Economic Cities will become new benchmarks recognizing Saudi Arabia’s second phase of competitiveness”.

January 25th

2011

Day 3

Speakers

Robert ReynoldsCEO, Putnam Investments

Deborah Wince-SmithPresident and CEO, Council on Competitiveness

H.E. Amr Al DabbaghGovernor and Chairman of the Board, SAGIA

Steven A. MillsSenior Vice President and Group Executive, IBM

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Rebooting Education

Education has come a long way since Dicken’s lamented the “supernatural dreariness” in Kay Shuttleworth’s Public Education. Yet access to education still varies as tremendously as does the ability of modern educational systems to reach the diversity of individual and social experience.In the panel on “Rebooting Education” Angel Cabrera, Joe Fuller, Jose Luiz Gomez and Steve McLaughlin discussed the challenges confronting education and best practices in redesigning the current system. The questions on how to develop talent, educate the future and drive a renewed focus on science and engineering were all raised.The discussion centered on the need to question education systems, as Joe Fuller pointed out “we need to ask ourselves ‘what output would we like the system to create’, not just how can we better

educate our students”. Asking this question will “transition us away from having our schools create students who are proficient at studying and build citizens who are productive workers”.Critical pillars, of this new approach, center on early childhood education and science and technology training. However, as Jose Luiz Gomez said, this will not be an easy task, since we must first “imbed this new approach into the natural development and foundation of society; education cannot just be a ‘program’”.By redesigning the prism, with which we develop our educational curriculums, communities will be able to create a productive workforce for tomorrow. This exciting new approach will hopefully energize the educational community and outline a path for success.

Speakers

Angel CabreraPresident, Thunderbird School of Management

Joe Fuller CEO, Monitor Group

Jose Luiz Gomez Executive Secretary, Action Fund for Children and the Environment

Steve McLaughlin President of Georgia Tech Global, Inc. and Vice Provost

A sense of hope and encouragement filled the room as a diverse panel of activists shared their experiences and thoughts on the subject of “Conscious Capitalism”. The panelists stressed the importance of capitalism that promotes social mobility. They also agreed that efficient policies alongside easy access to social capital are equally important. While many panelists enthralled the audience with personal narratives and winning examples, some panelists offered a more general overview of how conscious capital can be fostered. The first panelist to take the stage, Michael Strong, gave the audience an overview of how capitalism can help less developed countries create social business ventures that can create impact. He praised the KSA for being on the forefront of this endeavor, which is reflected by the country’s rise in the World Bank rankings. Ken Banks brought up the importance of innovation in social entrepreneurship using his company, Frontline SMS, as an example. His company used mobile phone technology in an innovative way to help villagers in Africa’s desolate areas. Among other things, the

technology helps researchers and institutions measure the effectiveness of their programs, while also allowing villagers to have immediate access to relief coordinators and human rights specialists. Expanded to over 60 countries, the technology is changing the lives of Africa’s poor. Bright Simmons reinforced the same idea. His company uses mobile phones to verify the authenticity of prescription drugs. The pragmatic nature of his innovation has helped millions of people avoid dangerous counterfeits. His company aligns the interests of the pharmaceutical industry, the mobile phone industry and various government ministries, while also serving the larger community. He stresses that these collaborative initiatives are the way of the future.The panel reached consensus that there is a need for leaders who believe they can make a difference, are not afraid of failure, are willing to work with others and have patience to see their ideas realized.

Conscious Capitalism

Speakers

Ken BanksFounder, Kiwanja.net; Creator, FrontlineSMS

Bright B. SimonsDirector of Development Research, IMANI; President, mPedigree Network

Mabel van OranjeCEO, The Elders

Michael StrongAuthor, CEO and Chief Visionary Officer, FLOW

Sally OsbergPresident and CEO, Skoll Foundation

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Keynote Speech

H.E. Minister Adel Fakeih

H.E. Adel M. Fakeih, the current Minister of Labor spoke about the growing issue of labor force reforms. Saudi Arabia needs to create astonishing five million jobs in the next 20 years to keep up pace with work force growth. His Excellency reassured the audience that the government is working to fix this problem. He put forth his three main recommendations for a labor force reform. “We need to focus on job intervention policies that are ‘Saudizable’”, he said. Creating positive incentives instead of quotas and regulations will encourage this. “Rewarding companies for high levels of Saudization is one step that we could take”. The current system is ineffective and needs to be reformed.Saudi Arabia also needs to focus on creating economic activities and opportunities that deliver high salary jobs. To do so, there needs to be improvements in the quality of education, and standards need to be set and enforced. Better vocational training and continuing

education programs are also needed to develop talent and deliver the latest thinking into the workforce. Finally, the country needs to make sure it has the supportive regulatory and policy reforms and frameworks to attract and keep these high paying jobs in Saudi Arabia.The Minister’s final recommendation was to increase Saudi national’s participation in the private sector by creating an equal playing field and restoring fair competition between nationals and expats. A partial removal of subsidies for companies employing non-Saudis would be a start. Also, an equalization of employment rules between the public and private sector would encourage many government workers to shift to the private sector.Finally, if that wasn’t enough, the Minister has other items on his reform agenda that he is looking to address. These include incentivizing the youth population to work in the private sector and creating a labor market that is more transparent.

The well-known need for risk-taking, in order for entrepreneurship to thrive, often collides with traditional cultures, which place more emphasis on existing knowledge and techniques. The panel “The Power of Unreasonable People” addressed this issue and analyzed how unique individuals can often pave the way for major changes, which can benefit entire societies. John Elkington, Wu Qing, Fadi Ghandour and Magatte Wade contributed to the discussion, drawing on their own experiences and anecdotes with unreasonable people from all walks of life.Essential to almost any definition of “entrepreneur” are risk, ambiguity and uncertainty, none of which bode well for the faint of heart. Also, essential to almost any definition of entrepreneurship are innovation, job creation and economic growth, all of which bode well for society.Ms. Qing discussed the importance of “helping people empower themselves by teaching them that the state protects the legal private property of individuals” and said that we each have a role in this, advising that “we all need to be verbs”. Mr. Elkington said that it is

The Power of Unreasonable People

important to view entrepreneurship through the lens of “outsiders coming in” to the business community, recognizing that failure is often the most important learning process.Mr. Ghandour summarized the need for greater impetus to action among those who have ideas: “If you are worried about doing something and then failing, then that very moment is the perfect time to do it”.The key to this reconciliation is fostering a business culture, which respects tradition but does not severely punish those who fail, while trying to start new businesses and innovate. This elegant concept was summarized by Ms. Wade who provided perhaps the best advice, saying that her guiding notion is “criticize by creating”, reminding us to take action about things we believe in.

Speakers

John ElkingtonAuthor, “The Power of Unreasonable People”

Wu QingFounder, Beijing Cultural Development Center for Rural Women

Fadi GhandourFounder and CEO, Aramex

Linda RottenbergCo-Founder and CEO, Endeavor

Magatte WadeEntrepreneur, Founder and CEO, The Tiosanno Tribe

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How do we encourage innovation so that we come up with the Next Big Idea? An invention starts as an idea and may take considerable time before it becomes reality. It took centuries before countless inventions, conceived by Leonardo Da Vinci, came into being and yet in his mind’s eye, Da Vinci had no doubt of his creations. The exploratory and experimental process is peppered with successes and failures before an Eureka! moment arrives. What is the most essential ingredient in the whole recipe?Access to financing is the most essential ingredient, while an environment and business culture, which accepts and even encourages risk-taking, is needed for the future’s big ideas to have a chance to take off. At least, that was the verdict from the panel “The Next Big Idea”, in which Nancy Conrad, Michael Czysz, Abe Sher and Phil Weilerstein gave firsthand accounts (and presented several radical new technologies) of their experiences with innovation.“Any success I’ve had today is exclusively due to innovation”, said Mr. Czysz when describing his calling away from architecture into innovation

in automotive design. The huge potential of the next generation, regardless of age, was discussed by Ms. Conrad. She outlined how her organization gives incredible opportunities to youngsters who are thinking outside of the box.The ability for innovation to tackle important global socio-economic issues was demonstrated by Mr. Sher in an exciting discussion of his new technology to provide clean drinking water almost anywhere. The technology is already having an impact on the US military’s cost for keeping soldiers supplied in the field, and the potential for the technology is enormous.Mr. Weilerstein eloquently summarized the enthusiasm of the panel by concluding that “Change is really our only constant, and resources are constantly being restrained. We have to think about the future and really think about how we can contribute to the innovators of tomorrow”.Speakers

Phil WeilersteinExecutive Director, National Collegiate Inventors and Innovators Alliance (NCIIA)

Abe SherCEO, Aqua Sciences Inc.

Nancy ConradChairman, The Conrad Foundation

Michael CzyszCEO, MotoCzysz

The Next Big Idea

As the world recovers from one of the biggest and most impactful recessions of the century, employability remains to be a key concern for both developed and developing nations. The “New Skills for New Jobs” panel discussed what the next five years look like in terms of global employment figures, and how global economies need to innovate to address the issues.Panelists Caroline Casey, Ana Dutra, H.E. Adel M. Fakeih and Rudy Karsan noted three themes for creating a more productive workforce, including developing leaders to their full potential, engaging workers and integrating people with disabilities into the workforce.Caroline Casey opened with the fact that by 2020 20% of our population will have a disability. Thus, she believes it is necessary to redesign our workplace to give people with disabilities opportunities to succeed because “our society benefits when every single person contributes towards its growth”. Commenting on her own blindness, she noted “you don’t need eyes to have vision”.

New Skills for New Jobs

Rudy Karsan found that encouraging worker engagement has significant benefits in his company, saying “there is a direct connection between engagement, innovation and productivity”. How do you promote worker engagement? Rudy’s research found that “leaders who lead with heart” foster unique and innovative characteristics within their companies.Connecting these themes, H.E. Adel M. Fakeih said that it is important for the public sector to create policies designed to foster labor equality and productivity. When there is a level playing field, people work harder and people try to emulate successful role models who are often entrepreneurs.

Speakers

Caroline CaseyFounder and CEO, Kanchi

Ana DutraChief Executive Officer, Leadership and Talent Consulting, Korn/Ferry International

H.E. Adel M. FakeihMinister of Labor

Rudy KarsanCEO, Kenexa

Lubna Al QassimiUAE Minister of Foreign Trade

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The GCF 2011 finished on a note of careful optimism from Professor Michael Porter, the man at the forefront of competitiveness. Professor Porter commended Saudi Arabia’s work over the past 5 years in making the country more competitive. However, he stressed that there is a long road ahead. Professor Porter outlined the three main areas of competitiveness: endowment, macroeconomics and microeconomics. He classifies endowment as the natural resources a country can use, like oil

Keynote Speech:

Michael Porter

“Saudi Arabia is encouraging the growth of the private sector, in order to diversify its economy and to employ more Saudi nationals.”

in Saudi Arabia. Macroeconomics is defined as the broad factors that help or hamper the business environment, such as business laws and access to credit. The final level is the competitiveness of the microeconomic environment, which looks at cluster development and business sophistication. “The job is not anywhere near done”, said Porter. While the GCF should honor Saudi Arabia’s achievements, it must not become complacent. The labor market and education still need to be reformed, he said.

Watch all GCF sessions atwww.gcf.org.sa

“ The aim of economic innovation should not be to have more CSR. Instead, we have to create an economy of shared value. We have to build the idea into our economic policymaking that we are creating a future where a broadening group of people will wake up in the morning and feel good about the day ahead of them – feel fulfilled and dignified

Bill Clinton

Inspiring Initiatives “

Saudi Responsible Competitiveness Index:

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The Saudi Responsible Competitiveness Index creates economic value through responsible business practices. It empowers companies to manage social and environmental issues in ways that support social development and increase firm level competitiveness. Led by the Saudi Arabian General Investment Authority (‘SAGIA’) and the King Khalid Foundation, the Saudi Responsible Competitiveness Index is open for any business operating in the Kingdom. Firms that enroll benefit in several ways, including a deepened understanding of those areas of Corporate Social Responsibility that enhance economic performance, confidential benchmarking of their performance against peers and commercially relevant advice about how to develop strategies that

are responsible and competitive. In addition, the prestigious King Khalid Award for Responsible Competitiveness is awarded to the three strongest performing companies on the Index.

MethodologyThe Saudi Responsible Competitiveness Index analyzes each participating company with the same methodology, regardless of their main business sector.

The Saudi Responsible Competitiveness Index builds directly on the Responsible Competitiveness Framework. It is calculated through two components: a questionnaire, which addresses the seven responsible competitiveness drivers: Responsible Business Climate, Smart Philanthropy, Attracting and Developing Talent, Business Standards and Compliance, Responsible Supply Chains, Product Service, Innovation and Responsible Communications. And an opinion poll from peer companies to nominate five companies that they consider to be sustainability leaders in Saudi Arabia. The nominated companies will receive higher scores. Together, these scores are ranked to give an Index.

Based on the scores on the Index, the top 20 strongest performing companies are interviewed. These interviews serve as quality control

to learn more about the company and verify the answers submitted in the questionnaire. From this, the three strongest performing companies are identified and given the prestigious King Khalid Award for Responsible Competitiveness. The three highest scoring companies will win the King Khalid Award for Responsible Competitiveness. Seven other strong performing companies will receive special recognition by the Saudi

Arabian General Investment Authority (SAGIA) and the King Khalid Foundation.

Winners List

First place

Second place

Third place (Co-winners)

Founding Partners Media Sponsors Knowledge Partner

Winners of King Khaild Awards for Responsible Competitiveness

Top performers in the index drivers

(Responsible Business Climate)(Responsible Communications)

(Supply Chains)

(Business Standards and Compliance)

(Product and Service Innovation)

(Retaining Talent)(Smart Philanthropy)

Winners List

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Rank Saudi Fast Growth List1 First Gulf Company for Supplies & Contracting Ltd.2 Dnata Travel3 Waseel ASP Ltd.4 WorleyParsons Arabia Ltd.5 Ahmed Mohammed Al Sudairy Plastic Factory6 IT Security Training & Solutions7 Delta United Contracting Co.8 Advanced Communications and Electronics Systems Ltd. Co. 9 Saad Al-Mobty & Partner Contracting Co.

10 Tamkeen Industrial Company Ltd.11 Hanco Al Tala’a International Transportation Company Ltd.12 Al Fouzan For Trading and General Construction13 AL Borg Medical Laboratories Co.14 Innovative Business Solutions (IBS)15 The Arabian Education and Training Group 16 Pioneer Way Est.17 Femi918 InterContinental Travel Co.19 Abdul Mohsin Al-Hokair Company for Toursim & Development20 Lomar (Tafasel International Co.)21 Mohammed Omer Kabli Trading Est. (Universal Car Maintenance)22 Dentalia Clinics23 Saudi Readymix Concrete Company24 Al Motawa Trading Co25 eXtra (United Electronics Co.)26 Kudu Company for Food and Catering 27 Priority Option28 Brains for Contracting Ltd. Co.29 Eye 2 Eye Optical Company30 Apral International Company31 Petrocon Arabia Ltd.32 SecuTronic 33 alcantara-group34 Al-Falak Electronic Equipment & Supplies Co.35 Innovative Foods Company Ltd.36 SAUDI GEOPHYSICAL CONSULTING OFFICE

Saudi Fast Growth (Start-ups) List

EKER Company Ltd.

Abduel Hafz Binshihon Contracting Est.

GTMedical

Saudi Specialized Laboratories Company ( Motabaqah )

Amjad Sara

Maysn Limited Company

deep advertising

Tafeel for Information Technology

Companies and micro-companies to watch - unranked

Absal Factory for Steel Fabrication Company (Absal Steel)

ACWA Power International

Ali Mohammed Al- Alabkary Cont.

Dereak for Medical & Pharmaceutical Consultancy

Digital & Electronic Solutions Development Co. (ZONIK)

EDUCON Study Abroad

Eggdancer Productions

Elite Holidays Travel and Tourist

EXPO Logistic Services

Headline PR & Event Management

QODRAT MOTAMAIEZAH

Samha International Schools

SHADI Publisher House

Tamooz General Contracting Est.

Yareem Restaurant Co.

Yousef M Alwasel Esteblishment for Construction

Saudi Fast Growth 100By highlighting these companies, the SFG seeks to ignite the imagination of the country’s entrepreneurs, encouraging future business owners to take risks and start the next generation of small and medium-sized companies – companies that will be part of the country’s economic future. Each year we find and rank the fastest-growing companies in the Kingdom according to their revenue performance over the preceding three years. In addition, we recognize companies that are less than five years old with the Saudi Fast Growth NCB Start-up list. The application process is rigorous, including verification of financial information to ensure awardees are real companies with real growth and real success. From analyzing these companies, Saudi Arabia will be able to learn: On what economic environment entrepreneurism thrives, and what government can do to help the creation of a policy environment that enables the success of new, innovative companies.

The winning companies with the top performance are divided into 3 categories as shown below:1. The Saudi Fast Growth list: • More than 5 years old and provided audited financials • At least SAR 1,500,000 in revenues in 2007 • At least 4 employees in 2009 2. The Saudi Fast Growth Start-Ups list: • Less than 5 years old and provided audited financials• At least SAR 1,500,000 in revenues in 2008• At least 4 employees in 2009 3. The ‘Companies and micro-companies to watch’ list: Companies that have experienced revenue growth, but which did not satisfy at least one of the following criteria: • The company did not have audited accounts • Revenues were below SAR 1,500,000 in their base year • Have less than 4 employees in 2009For more information on the initiative please visit:www.saudifastgrowth.com

The Saudi Fast Growth list (SFG) is an annual ranking of the fastest-growing companies in the Kingdom of Saudi Arabia. Founded by SAGIA, Al Watan and NCB, with strategic sponsor Abraaj Capital, the list highlights the fact that the next generation of companies is creating jobs, spurring innovation and growing consistently.

Founding Partner Strategic Sponsor

The Saudi Oxford Leadership Program was launched in 2009 as a joint initiative of SAGIA, North Development Program and Oxford University’s Saïd Business School, for the purpose of developing leaders from public and private sector organizations, who will raise the competitiveness of the Kingdom of Saudi Arabia and take the Saudi economy and society to the next level.Brief about the program design:The design of the program is based on the challenges faced by leaders in public and private sector organizations in Saudi Arabia. Real life leadership issues, faced by Saudi leaders, are debated in the class with the help of case studies about Saudi and international organizations. These case studies have been specifically prepared for the Saudi Oxford Leadership program.Ideally suited for senior public servants, CEOs, entrepreneurs, educationalists and

Founding Partners

Saudi Oxford Leadership Program:

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senior professionals from communication, media and other sectors.The program is designed around four modules with one inter-modular team project assigned:Module 1: Your Global & Saudi Challenges and InsightsKey Questions: ‘What situations and prospects are we facing?’ and ‘What should we do about it?’Module 2: Your Organizational Challenges and ChoicesKey Questions: ‘How do we build and sustain competitiveness of the organization?’ and ‘How do we create and maximize value for stakeholders?’Module 3: Leadership Journey – Past, Present and FutureKey Questions: ‘How do I address and confront the challenges embedded in the task of leading within my organization?’

Inter Module: Projects:During the eight-week period between Modules 3 and 4, teams of participants conduct field work on contemporary themes of strategic importance to the Saudi economy and society. During Module 4, teams will present their recommendations to the key policy makers in the Kingdom of Saudi Arabia.Sample Themes: Strategies and Specific Programs for:• Creating employment opportunities in KSA.• Developing non-oil based sectors such as mining, agro and food processing in the Saudi economy.• Prevention and early detection of breast cancer and diabetes in KSA.• Enhancing the standards and the impact of basic education in KSA.• Raising the citizens’ awareness and

shaping their behavior for building an environmentally friendly Saudi society.• Talent development in the Saudi society.• Local development in the less developed regions.• Creating a knowledge-driven economy.Module 4: Your Contribution to the Competitiveness of the Saudi EconomyKey Questions: ‘What are the strategies for managing socio economic challenges in the Saudi society and what will be my role?’The Saudi Oxford Leaders Event at GCF 2011: The event at the GCF aims to highlight the objectives and strategy behind the creation of the Saudi Oxford Leadership, the connection between leadership development and competitiveness and showcase the alumni and some of their community based projects that are aimed at improving the Saudi society and their citizens.

Top 100 FDICompanies in KSA:

SAGIA is the Kingdom’s investment promotion agency. It attracts and encourages further investments to the Kingdom and plays a key role in shaping the country’s business environment by managing its competitiveness agenda. These Foreign Direct Investments (FDI) play a key role in the Kingdom’s economic growth and economic prosperity. FDI supports and drives economic growth by contributing to job creation and transferring international technologies and know-how.

The increased competitiveness of the country, as demonstrated by its WB ranking, which is now number 11, has resulted in a correlated impact to consistent improvement in its FDI inflows. In 2009, the most recent year measured by global reports, Foreign Direct Investment (FDI) into Saudi Arabia grew 57% coming to a total of US$38 billion. KSA is the largest recipient of FDI in the region and according to the 2010 World Investment Report, published by UNCTAD, the 8th largest in the world.

About the FDI Initiative:The top 100 FDI initiative was introduced by SAGIA to recognize our top FDI companies and highlight their contribution to the Kingdom. We use the UNCTAD methodology to determine the value of FDI annually. The initiative will also, for the first time, recognize the top FDI contributors to job creation.This initiative aims to create direct dialogue with our investors, in order to encourage expansion of their contribution and to increase public awareness of FDI’s benefits.

Company Name Category

Al Bandar International House for Trading Company Trade

Arabian Bemco Contracting Co. Ltd. Construction

Emaar - Economic City (KAEC) Real estate activities

Emirates NBD Bank - Branch Financial Institutions

Etihad Etisalat Company - Mobily Telecommunication

Elaj Medical Services Company Health

Maarif Education & Training Holding Company Education

Rabigh Refining and Petrochemical Company Manufacturing

United Gulf Steel Mill CO. LTD. Industry (non-oil)

Sino Saudi Gas Limited Mining, Oil, and Gas

Top FDI Inflows - Based on CategoriesTop FDI Inflow

Company Name

Emirates NBD Bank - Branch

Top FDI Employer

Company Name

Etihad Etisalat Company - Mobily

Top FDI Stock

Company Name

Rabigh Refining and Petrochemical Company

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We aim to highlight our top FDI contributors and recognize the role of international companies in increasing our country’s competitiveness.

Founder Media Sponsor

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The Saudi Arabian General Investment Authority (SAGIA) has collaborated with Microsoft, Cisco and Edge of Arabia in a strategic partnership designed to create a new competitive platform for developing, recognizing and nurturing the most competitive youth in Saudi Arabia.The Initiative:‘The Most Competitive Youth’ is a strategic initiative that will engage youth in Saudi Arabia in the betterment of their communities, inspiring creativity, promoting entrepreneurial spirit and innovation and bringing Saudi Arabia’s economy to the forefront of competitiveness.Partnering with the Knowledge Partners, the initiative has competition as its theme with the following three categories:Technology: Microsoft runs the technology

Most Competitive Youth:

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category by providing two exciting categories, where the youth can apply their innovative and creative talents using technology.There are two categories of competition within the Imagine Cup ‘FreeStyle’:1- Kodu category: This is a skill competition designed to recognize students who demonstrate excellence in a diverse range of technical, creative and game play depth and design skills in the use of Kodu Games Lab.2- Social Web category: This is a social impact competition designed to recognize students who use social web and various tools to build authentic content, in order to create awareness among the public about social problems. All participants will be provided with hosted SharePoint portal, ready to publish, content.Innovation: Cisco runs this category aiming at igniting the youth in Saudi Arabia to come up

Founding Partners Online Media SponsersCompetitiveness Sponsorship

with innovative ideas and solutions to improve their schools, universities or communities. The main theme is “Pass the idea”, with which the competitors are given the opportunity to share and pass their ideas. The viewers, on the other hand, have the chance to interact with the pool of ideas by searching tags such as Education, Health, Arts and Culture, Planet, Neighborhoods, Sports or others.Arts & Creativity: Edge of Arabia runs this category, in which the youth will submit a creative design using art, digital media, photography or a different type of art that inspires others. Thus, it will help achieving a positive change in their community or raising awareness regarding a social issue that has a negative impact on society.

Knowledge Partner

Rank Name

1 Arwa Res

2 Rawan Alharbi

3

Abdelrahman Al Acer

Ashraf Al Sharawi

Omar Murad

4 Nasreen Al-Qadi

5 Salam Al-Khouja

6 Najla Al-Ariefy

7 Deemah AlEyoni

8 Dua>a Al-Hajjar

9 Farouk Yasser Harb

10 Abdulaziz Al-Meaither

Ranking First Name Last Name

1 Rayan Aldafas

2 Nabil Alzahrani

3 Othman Althani

4 (team)Jude TashkandiDoha Al-Afaliq

5 Mohammed Gamal

6 Mohammed Alharbi

7 Mansor Alenze

8 Maryam Almulhim

9 Fatimah Patel

10 Fawaz Mahdi

Name Medium

Anggi Makki Film

Ahad Al Amoudi Art

Adwa Al Mubarak Photo

Noorah Kareem Art

Mashael Al-Makheet Art

Hesham Al Humaid Photo

Maysan Madani Graphic

Sultan Al Badran Photo

Hawra Al-Mushhadi Art

Hussain Ismail Art

GCF 2011 Speakers“ Most leaders are not born great, they

learn to become great and it is up to us

to develop those leaders“

Caroline Casey

Bill ClintonFounder of the William J. Clinton Foundation and 42nd President of the United States

MODERATOR: Laura TysonProfessor at Haas School of Business, University of California, Berkeley

Ali Bin Ibrahim Al NaimiMinister of Petroleum and Mineral Resources of Saudi Arabia

MODERATOR:John DefteriosCNN Marketplace Middle East Anchor

Dr. Mohammad Al-JasserGovernor, Saudi Arabian Monetary Agency

Tony BlairFormer Prime Minister of the United Kingdom

MODERATOR:

John A. Quelch Dean-elect at the China Europe Business School

Dr. Hashim YamaniPresident, King Abdullah City for Atomic & Renewable Energy

H.E. Adel M. FakeihMinister of Labor of Saudi Arabia

Jean Chretien20th Prime Minister of Canada

MODERATOR: Maria CristinaFrias, Columnist, Board Member Folha Group

Michael Porter Bishop William Lawrence University Professor at Harvard Business School

SpeakersAnne LauvergeonCEO, Areva

Andy BirdChairman, Walt Disney International

Janine BenyusFounder, Biomimicry Guild, TIME Hero

Jean-Pascal TricoirePresident and CEO, Schneider Electric

Marie PoulinSenator for Northern Ontario, Canada and Counsel at Heenan Blaikie LLP; former Vice-President of CBC

Paul HawkenCEO, OneSun

Jean-Pierre ClamadieuChairman and CEO, Rhodia Group

Tom AlbaneseChief Executive, Rio Tinto

Sally OsbergPresident and CEO, Skoll Foundation

Dennis M. NallyChairman and CEO, PWC

James TurleyChairman and CEO, Ernst and Young

Carlos MoreiraFounder and Chairman of the Board, WISeKey

6665 www.gcf.org.sa

John KaoAuthor, Founder and Chair, ILSI; Founder, i20

Abe SherCEO, Aqua Sciences Inc.

Thomas KrensFormer Director, Solomon R. Guggenheim Foundation, Senior Advisor for International Affairs, Solomon R. Guggenheim Foundation

Mohammed Al-MadyVice-Chairman and CEO, Saudi Basic Industries Corporation (SABIC)

Delos CosgroveCEO, President and Chairman of the Board, Cleveland Clinic Foundation

Hans Dieter PötschMember of the Board of Directors, Volkswagen

Caroline CaseyFounding CEO, Kanchi

Wu QingFounder, Beijing Cultural Development Center for Rural Women

Sandra WuPresident and CEO, Kokusai Kogyo Group

Ulf HenrikssonChief Executive Officer, Invensys

Klaus Kleinfeld CEO, Alcoa

MODERATOR: Marcelo Drügg Barreto Vianna, Leader Partner, ERS - Sustainability & Corporate Social Responsibility Services, Deloitte Touche Tohmatsu

Richard JeffersonFounder and CEO, Cambia

Jitesh GadhiaManaging Director, The Blackstone Group; Board Member, NESTA

Natalia AllenDesign Futurist

Angel CabreraPresident, Thunderbird School of Global Management

James NakagawaCEO and Chief Care Architect, Mobile Healthcare Inc.

Helmut SchuehslerManaging Partner, TVM Capital

Saeb EignerChairman, Lonworld

Calvin ChinCEO, Qifang

Magatte WadeEntrepreneur, Founder and CEO, The Tiosanno Tribe

Michael StrongAuthor, CEO and Chief Visionary Officer, FLOW

Deborah Wince-SmithPresident and CEO, Council on Competitiveness

Mabel van OranjeCEO, The Elders

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Phil WeilersteinExecutive Director, National Collegiate Inventors and Innovators Alliance (NCIIA)

Jack SimTime Magazine as Hero of the Environment 2008; Founder, World Toilet Organization

Nicholas ParkerExecutive Chairman, Cleantech Group LLC

Ken BanksFounder, Kiwanja.net; Creator, FrontlineSMS

Victor ChuChairman, First Eastern Investment

Eric TsaiChief Executive Officer, eriQoo.com

David GenslerExecutive Director, Gensler

Fadi GhandourFounder and CEO, Aramex

Michio KakuProfessor of Theoretical Physics at City University of New York; Host of Sci Fi Science on the Discovery/Science TV Channel

Rory StearExecutive Chairman, Flambard Holdings, TIME Hero

Mona KhazindarVice-President, Al-Mansouria Foundation

José Luis GómezExecutive Secretary, Action Fund for Children and the Environment

John A. FraserChairman and Chief Executive Officer, UBS Global Asset Management

Ana DutraCEO, Leadership and Talent Consulting, Korn/Ferry International

Bright B. SimonsDirector of Development Research, IMANI

Nassim Nicholas TalebBest Selling Author, Essayist, Scholar

Mohammed RezwanExecutive Director, Shidhulai Swanirvar Sangstha

Salwa A.F. Al-HazzaaHead of Ophthalmology, King Faisal Specialist Hospital and Research Center

Stanton T. FriedmanNuclear Physicist, Lecturer, Author

Arif NaqviFounder and Group CEO, Abraaj Capital Limited

Joseph AdeleganPresident, Green Globe Trust; Founder, Global Network for Environment and Econonmic Development Research; Founder, Green Power Partnership Limited

Rahul SinghFounder and Executive Director, GlobalMedic

Jacques ValleeGeneral partner, SBV Venture Partners

Venetia PorterCurator, Islamic and Contemporary Middle East, The British Museum

7069 www.gcf.org.sa

Alfonso Martinez CearraDirector, Bilbao Innopoli

Nick PopeAuthor, Journalist

Zaghloul ElnaggarProfessor of Earth Science and Geology, Supreme Council of Islamic Affairs

Michael CzyszCEO, MotoCzysz

Nancy ConradChairman, The Conrad Foundation

Thomas M. ConnellyExecutive Vice- President, Chief Innovation Officer, Dupont

Steven A. MillsSenior Vice-President and Group Executive, IBM

John RoseChief Executive, Rolls Royce

Caroline DanielsChairman and CEO, Aircraft Technical Publishers

Joseph A. StanislawFounder, The JAStanislaw Group LLC

Robert ReynoldsCEO, Putnam Investments

John ElkingtonAuthor, “The Power of Unreasonable People”

Rod GloverEconomic Strategy Consultant, Melbourne, Australia

Jason ClaySenior Vice-President Market Transformation, World Wildlife Federation

Mohanud HelalSecretary General, Economic Cities Authority

Paola AntonelliSenior Curator, Architecture and Design, The Museum of Modern Art

Rudy KarsanCEO, Kenexa

Jared CohenDirector, Google Ideas

Jian-Kang ZhuDirector, Plant Stress Genomic and Technology Research Center; Named Professor of Molecular Biology and Plant Physiology

Steve McLaughlinPresident, Georgia Tech Global Inc.; Vice Provost at the Georgia Institute of Technology

Jim AlbaughPresident and CEO, Boeing Commercial Airplanes, (BCA)

Jake EbertsOscar winning movie producer, ‘Journey to Mecca’

Wim ElfrinkExecutive Vice-President and Chief Globalisation Officer, Cisco Systems, Inc.

David DrummondSenior Vice-President, Corporate Development and Chief Legal Officer, Google

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Atul PunjChairman, Punj Lloyd Ltd.

Stephen Kennedy SmithPartner, Valcent, Trustee, Kennedy Enterprises

Mike HughesAdvisor Science, Technology and Innovation, Ministry of Education, Rwanda

Joe FullerCEO, Monitor Group

Chrystia FreelandGlobal Editor-at-Large, Thomson Reuters

David EilenbergHead of Development and Current Programming, Mark Burnett Productions

Hermann RequardtCEO, Healthcare; Member of the Managing Board of Siemens AG

Linda RottenbergCo-Founder and CEO, Endeavor

Martin DicksonDeputy Editor, Financial Times

Timothy C. HesterChairman, Management Committee, Covington & Burling LLP

Ziad AbdeenDirector, The Al-Quds Nutrition and Health Research Institute

Alberto PirelliMember of the Board of Directors, Pirelli

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Sponsors and Media Partners

Ultimate Partner

Sponsors

Competitiveness Partners

Media

Strategic Partners

Media Sponsors

IT Sponsor:

Global Partner

Strategic Partner

Media Partners

Press media Social Media

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Ultimate Partner Competitiveness Partners

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Strategic Partners

8079 www.gcf.org.sa

Sponsors

ITSponsor:

8281 www.gcf.org.sa

Global Partner Strategic Partner Media Partners

Media

Press media Social Media

Media Sponsors

GCF 2011 Hosts

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Its mission is the fulfillment of 10x10 Program:The plan is to position Saudi Arabia among the top ten most competitive economies by 2010 through the creation of a business-friendly environment. Marrying local knowledge with world-class business expertise, SAGIA believes strongly in promoting entrepreneurship and the relentless pursuit of data driven results.

As the “guardian angel” of business in Saudi Arabia, SAGIA:• Identifies investment opportunities that

are linked to the Kingdom’s competitive advantages and matches them to interested and qualified investors.

• Provides value-based business owners, such as the One-Step Shops (OSS), offices centralizing the critical services necessary to invest in or to set up and operate a business in Saudi Arabia.

• Serves as the main point of contact between investors and other national and regional agencies within the Kingdom as well as private sector organizations to develop and refine business laws and policies.

• Represents the Kingdom abroad through nine international offices in four continents to market Saudi Arabia’s business climate and to offer advice on the ground on all aspects of doing business in Saudi Arabia.

Established in 2000, the Saudi Arabian General Investment Authority (SAGIA) is committed to enhancing the experience of investing and operating in the Kingdom, serving as an information clearinghouse and providing comprehensive licensing and support services to investors.

GCF Photo Gallery

SeeyouatGCF2012