The monthly dinner for the Australian Arab Business Council (AABC) took place on the evening of August 9th at Villa Blanca in Bankstown, featuring the theme “Unmasking the Economy.” The event was graced by the presence of Radwan Hamdan, the head of AABC, and Lebanese Member of Parliament, Ihab Matar. Serving as the guest speaker for the evening was Mr. Jack Kouzi, the Chief Strategy Officer and an Executive Director of the VFS Group, a prominent player in the financial sector.

The event saw familiar faces from previous AABC dinners, offering attendees an excellent opportunity to expand their networks by forging new connections or nurturing existing ones. The formal proceedings commenced with MC George Bousamra inviting Hamdan to deliver a welcoming address. Hamdan took the stage, expressing gratitude for everyone’s presence and sharing his enthusiasm for topics related to the economy and taxation, which he revealed were his favorite subjects.

Subsequently, Kouzi took the podium, delivering a well-informed 25-minute speech that provided insightful explanations and answers. At the outset, Kouzi clarified that his remarks represented his professional opinions rather than indisputable facts. His discourse encompassed a broad spectrum of subjects. For instance, he emphasized that when faced with the choice between inflation and slow economic growth, the latter is preferable, as inflation can significantly harm the economy. Kouzi metaphorically likened inflation to a “brain tumor” while describing slow economic growth as comparable to “a substantial cut on your leg.”

The speech also delved into the escalating costs of property acquisition, not limited to Sydney but extending across Australia. Hong Kong was the sole global location surpassing all Australian cities in terms of costliness. Kouzi further elaborated that purchasing a grand, spacious, historic property in France is more economical than acquiring a two-bedroom unit in Sydney. Nevertheless, external factors, such as the conflict in Ukraine impacting oil prices, were also identified as contributors to the cost of living crisis.

To bring the official segment of the evening to a close, a brief raffle was conducted, awarding small prizes. Subsequently, dinner was served, facilitating continued networking opportunities for all attendees.