Hernando de Soto in head-to-head debate at upcoming Dubai Strategy Forum 2002

Hernando de Soto dubbed by some as the world’s leading voice on capitalism, will join an early debate on the role of governance at the upcoming Dubai Strategy Forum, scheduled for October 28-30 2002 in Dubai.

The potentially buoyant debate, possibly the first time the need for a shake-up in the style of governance that prevails across the region is discussed on a public stage, sees de Soto head-to-head with government ministers, including Pakistan’s Minister of Finance, Shaukat Aziz. 

According to chairman of the Forum, Mohammed Al Gergawi, it is expected to be a bullish address : “The governance issue on Day One of the Forum is set to lead the open dialogue style that we would want to see prevail over the three days.”

“de Soto alone is known for rocking boats in his drive to make life easier for millions of Peruvians and it is high time such insight is delivered from a stage in Middle East.”

Having served at executive committee level and at the helm of many leading corporations, such as Swiss Bank, Peru’s General Reserve Bank and GATT (General Agreement for Tariffs and Trade), as well as penning best-selling titles such as The Other Path and The Mystery of Capital, de Soto has caught the attention of many. In 1999 Time magazine lauded him as a leading innovator of the century.

He is recognised as a champion of market economics and property rights in a part of the world that historically has shown little interest in such ideas. These are just two of the many fundamentals of capitalism that de Soto is able to bring to the fore in his role as founder/director of Peru's Institute for Liberty and Democracy (ILD), deemed by the Economist as one of the world’s key think tanks for economic development, civil liberty and human rights.

On capitalism and markets, many consider his description of market mechanisms and the way they empower people as having ramifications beyond the borders of Peru into this very region.

“We are launching a process at the Forum this year meant to contribute to a momentum for growth for the countries of the region by creating a framework of open and constructive dialogue,” said Gergawi.

Gergawi confirmed that topics will include those that have not frequently been addressed by a public forum in the region, such as the rights of women, open trading, cross boarder regulations.

Looking at participation at the Forum, the meeting has already attracted the attention of leading brands, who have committed their support as Organising Partners. These are: Dubai Media City, the rapidly emerging global media hub; ENOC, a leader in upstream and downstream activities in the oil and gas sector; Emirates, the UAE’s national airline; the GCC’s leading English newspaper, Gulf News; National Bank of Dubai, Dubai’s national bank and PricewaterhouseCoopers, the international firm of auditors and business advisors.

In addition, activity sponsors include Booz Allen Hamilton, General Motors, Mashreq Bank, Oracle, Jumeirah Beach Residence and Visa.