Integration of modern technology key to productivity growth, says FAB chairman

AMMAN — Hamdi Tabbaa, the chairman of the Amman-based Federation of Arab Businessmen (FAB), has urged Arab countries to prioritise productivity growth by integrating modern technology into production processes. 

In an interview with Jordan News Agency Petra, Tabbaa emphasised the need to implement national development strategies that enhance food security and build strategic stocks of essential food commodities, amid growing fears concerning continuous fluctuations in food prices and the repercussions of climate change on food security.

Tabbaa further highlighted the importance of investing in digital technology and human capital, with a particular focus on education and skill development, to reduce unemployment rates and support digital transformation in the Arab world. 

He also stressed the significance of adopting strategies that increase efficiency in managing public funds and diversifying income sources to ensure sustainability and strengthen monetary policies.

According to Tabbaa, the Arab world must prioritise the implementation of development projects and establish strategic partnerships between the public and private sectors to promote economic growth and achieve sustainable development goals. The Arab business community has a crucial role to play in advancing Arab economies, improving infrastructure and creating new investment-based job opportunities for local labour, he added.