Mohammed Johmani, CEO and Founder of the Dubai-based O2 Network, has called for the formation of a $1bn investment fund to support 1,000 elite Arab entrepreneurs.

Speaking at the Arab Economic Forum in Beirut, Johmani stressed on the importance of supporting young leaders through government leadership as well as structuring laws that will help entrepreneurs achieve their aspirations.

Johmani said the programme would be led by business leaders to ensure its success and was expected to play a major role in solving the “unemployment and poverty issues throughout the Arab region”.

The communications group chief added that the entrepreneurs “should be granted easy access to all the Arab countries to market their thoughts and create valuable opportunities”.

Johmani’s speech also highlighted the need to boost investor confidence in young leaders and pump funds into projects that are currently facing challenges because of investor’s reluctance to take on additional risk in “uncertain” economic times.

His comments come as most Arab countries struggle with high levels of unemployment among their youth.

With the UAE as an exception, unemployment among the younger generation is 27 percent in Bahrain, 26 percent in Saudi Arabia, 17 percent in Qatar, 23% percent in Kuwait, 12.8 percent in Jordan and 9.4 percent in Egypt.

Johmani encouraged international investors to take serious actions in order to give the youth community and young leaders a chance to excel.

“Our young leaders need support, trust and encouragement in order to achieve their goals. Such confident will then serve to aid our communities in the future as young people continue to seek jobs and start on a professional career in which they can move their talents in the right direction,” added Johmani.

Johmani also called on officials at universities in the region to actively pursue their “constructive role” in cultivating talent and promoting innovation through advice and expertise.

“The aspirations of young leaders in the Arab region need great encouragement and support so that they can astound the world,” Johmani noted.

“We have the potential and the creative ideas to forge ahead globally, but we lack the trust of governments and the confidence of investors. Our universities and educational institutions must prepare young people to play a role in business leadership, although it is the responsibility of us all to nurture young talent in the region.”

Established in Dubai in 2005, O2 Network operates from six locations in the GCC in Jeddah, Dubai, Abu Dhabi, Doha, Muscat and Manama, and has a global office in Hong Kong.