The Middle East and North Africa (MENA) region consists of a heterogeneous group of countries ranging from high-income countries in the Arabian Gulf to middle-income and least developed countries. A dominant concern in the MENA region is the high dependence on oil and gas among high-income countries and on traditional agriculture among the least developed ones. The region is characterized by volatile economic growth owing to the changes in international commodity prices. This necessitates the adoption of economic diversification policies outside resource-based sectors. G20 policymakers should support MENA countries to leverage the global value chain in technology sectors in order to facilitate access to foreign markets. Policymakers should also provide technical developmental support for the region’s entrepreneurship ecosystem and improve the business competitiveness indicators of MENA countries.
Said A. Alshaikh