MENA Investment and Entrepreneurship Conference Welcome Ambassador Faily as a Panelist

Ambassador Faily joined a distinguished diplomatic panel at the event organized by the US Chamber of Commerce and the Aspen Institute’s PNB.

The US Chamber of Commerce and the Aspen Institute’s Partners for a New Beginning welcomed Ambassador Faily as a panelist at the MENA Investment and Entrepreneurship Conference on October 11, 2013.

Ambassador Faily joined a distinguished diplomatic panel, including the Lebanese finance minister, the Governor of the Jordanian Central Bank, the former Tunisian minister of finance, and the Ambassador of Egypt to the US.

Panelists outlined the key priorities for economic growth in their respective countries and discussed ways in which the US can play a more active role in promoting private sector growth and investment.

Ambassador Faily noted that Iraq has one of the highest GDP growth rates in the world but cautioned that Iraq needs to invest its oil wealth to diversify its economy. The Ambassador added that a cultural shift towards a market economy was needed to facilitate sustained economic growth in Iraq.

Ambassador Faily concluded by suggesting that foreign investment needs to be approached from the perspective of improving prosperity in the region, and that the US could play a greater role in helping achieve that goal.