Princess Maha Bint Mishari: Women, Youth Participation in Labor Productivity Crucial for Human Capital Investment

Princess Maha Bint Mishari, Asharq Al-Awsat
Princess Maha Bint Mishari, Asharq Al-Awsat
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Princess Maha Bint Mishari: Women, Youth Participation in Labor Productivity Crucial for Human Capital Investment

Princess Maha Bint Mishari, Asharq Al-Awsat
Princess Maha Bint Mishari, Asharq Al-Awsat

Saudi Princess Maha Bint Mishari, who is co-leading the migration and young societies task force at the Think 20 (T20) engagement group of the G20, revealed that recommendations presented by her team to the G20 presidency promote increased productivity by investing in human capital.

Proposals by the task force focus on boosting productivity through increasing youth and women involvement.

“Young societies are a necessary and important component at the present time, especially in the Arab region, and specifically in Saudi Arabia, which has a high percentage of youth,” Princess Maha noted.

She also pointed out the importance of raising technical awareness, especially with regard to distance education, and called for building a special infrastructure for distance learning.

Princess Maha, in an interview with Asharq Al-Awsat, said that the T20 taskforce she is overseeing dealt with the file of migration and young societies through the scope of macro and microeconomic policies, unemployment, education, the labor market, intergenerational participation, regional conflicts, and voluntary and forced migration.

Recommendations endorsed by the taskforce, according to Princess Maha, will aid in achieving the social and economic integration of refugees and migrants and help provide basic services and education for migrant and refugee children.

They will also diagnose the social, political and economic impacts of migrants, and migration mechanisms.

As for challenges emanating from demographic change, Princess Maha said that the taskforce had proposed a score of measures that could help.

These measures include extending the retirement age, investing in education, vocational and technical training, expanding the financial framework, as well as considering public spending tax reforms, comprehensive reforms of public pensions, social security and healthcare schemes.

On how to divide global burdens resulting from forced migration, Princess Maha said: “The G20 Protocol on Forced Migration solves the problem of dividing the burdens of forced migration, and guarantees life in safety and dignity.”

She also suggested integrating immigrants through training and education.

This will help bridge the employment gap in host countries where the elderly are predominant in the population.

Princess Maha stressed that investing in the education and training of local immigrants will improve the prospects for their integration.

She called for the establishment of a virtual communication network dedicated to offering advisory services to refugees to facilitate integration in host countries.

This can be achieved through launching refugee portals in which all government educational, medical and legal services are provided.



Oil Prices Fall as Demand Concerns Overshadow Libyan Export Halt

FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)
FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)
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Oil Prices Fall as Demand Concerns Overshadow Libyan Export Halt

FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)
FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)

Brent oil prices fell on Tuesday as sluggish economic growth in China, the world's biggest crude importer, increased worries about demand that overshadowed the impact of the halt of production and exports from Libya.
Brent crude futures were down 17 cents, or 0.2%, to $77.35 a barrel by 0620 GMT, Reuters reported.
West Texas Intermediate crude futures, which did not settle on Monday because of the US Labor Day holiday, were up 50 cents, or 0.7%, at $74.05 a barrel.
"Oil remains under pressure given lingering Chinese demand concerns. Weaker-than-expected PMI data over the weekend would have done little to ease these worries," said Warren Patterson of ING, adding that demand jitters are offsetting the Libyan supply disruptions.
China's purchasing managers' index (PMI) hit a six-month low in August. On Monday, the country reported new export orders in July fell for first time in eight months, and new home prices grew in August at their weakest pace this year.
In Libya, oil exports at major ports were halted on Monday and production curtailed across the country, six engineers told Reuters, continuing a standoff between rival political factions over control of the central bank and oil revenue.
The country's National Oil Corp (NOC) declared force majeure on its El Feel oil field from Sept. 2. Total production had plunged to little more than 591,000 barrels per day (bpd) as of Aug. 28 from nearly 959,000 bpd on Aug. 26, NOC said. Production was at about 1.28 million bpd on July 20, the company said.
Still, some supply is set to return to the market as eight members of the Organization of the Petroleum Exporting Countries (OPEC) and affiliates, known as OPEC+, are scheduled to boost output by 180,000 bpd in October. The plan is likely to go ahead regardless of demand worries, according to industry sources.
OPEC planners may decide that the expected upcoming cuts in US interest rates and the Libyan outage provides space for the addition of more oil, RBC Capital analyst Helima Croft said in a note.
"In our view, a prolonged Libyan outage could support Brent prices" around $85 a barrel, even with additional supply coming onto the market in the fourth quarter, she said.