AI智能总结
The World Governments Summit is a global platform dedicated toshaping the future of governments worldwide. Each year, the Summitsets the agenda for the next generation of governments with a focuson how they can harness innovation and technology to solve universalchallenges facing humanity.The World Governments Summit is a knowledge exchange center atthe intersection of government, futurism, technology, and innovation.It functions as a thought leadership platform and networking hub forpolicymakers, experts and pioneers in human development.The Summit is a gateway to the future as it functions as the stage foranalysis of future trends, concerns, and opportunities facing humanity.It is also an arena to showcase innovations, best practice, and smartsolutions to inspire creativity to tackle these future challenges.To Inspireand EnableThe Next Generationof Governments01World Governments Summit 02 Table of ContentsExecutive SummaryIntroductionExploring New Frontiers: New Industries for Family BusinessesGCC Economic OverviewAdopting Commercial Leadership Strategies and MindsetsMaintaining Family Wealth and Building New Value:Strategies for the FutureRethinking Roles and ContributionsSuccession Planning and Managing Inter-GenerationalRelationshipsActionable TakeawaysAuthor 06081214161820242627 Family businesses play an important role in supportingregional economies all around the world. In the MiddleEast the situation is magnified, with the largest family-runbusinesses each constituting many billions of assets in theirrespective nations. Yet as business ownership passes downthrough the generations and becomes diluted, these criticalregional employers must work harder to maintain profitablegrowth as well as harmony and a unified direction across all ofthe family stakeholders.One of the biggest challenges can be how to navigate inter-generational sensitivities and keep the peace betweendifferent branches of a family as second-generation, sibling-oriented ownership passes to cousins, multiplying the numberof stakeholders and sharers of profit. This has implications forbusiness growth and diversification strategies, requiring roomfor new entrepreneurship and risk-taking, within managedparameters.Supporting the future of family businesses has become astrategic priority for governments across the Middle East,perhaps most visibly in the United Arab Emirates and theKingdom of Saudi Arabia to date. By providing the righttargeted support, these nations can not only de-risk inter-generational handovers, but also optimize opportunities forgrowth in a range of key industries as GCC countries look todiversify their economies away from oil.At the same time, the Gulf region is also attracting familybusinesses from around the world, as an attractive and well-connected global base from which to continue building thoseenterprises. It follows that targeted advice on successionand strategic sector focus will have broad appeal for thesebusinesses too.With the right external support, next-generation familybusinesses can be encouraged to boost their activities andgrow their capabilities and connections in strategicallyimportant sectors ranging from financial services, tourism andtechnology, to manufacturing and logistics.This paper summarizes the highlights of the WGSFamily Business debate session, including the proposedrecommendations. At the World GovernmentSummit in Dubai inFebruary 2023, some 40family businesses fromaround the world tookpart in a closed discussionabout the future of familybusinesses in the GCC regionand globally, highlightingemerging challengesand debating optimalgovernment interventions.Executive Summary In the UAE, new government initiatives include updatesin the law, such as the introduction of a new ownershipgovernance law, plus the establishment of the Dubai Centrefor Family Businesses, to provide targeted practical adviceon matters including governance, succession planning, andconflict resolution. Targeted events, meanwhile, are creatingopportunities for family business owners and stakeholders tonetwork and learn from each other.The Kingdom of Saudi Arabia is also putting in place specificmeasures to help family businesses thrive and prosper. Alongwith a National Center for Family Business to strengthen therole of family businesses in the Kingdom and ensure theirsustainability,1the Saudi government is implementing newlaws to take the place of moral agreements as the basis fordefining family relationships and rights within businesses.Importantly, evolving government support isn’t just aroundthe transfer of ownership to the next generation. It alsoinvolves providing proactive guidance and help to familybusinesses as they adapt to the Middle East’s transformingeconomy, and pursue new sources of revenue growth.Dubai’s plan for 2033 (known as D33), for instance, embodiesthat strategy - by looking to actively foster the success ofkey sectors including tourism, manufacturing, logistics,digitization/technology, fin