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Saudi Arabia: Aiming toward a knowledge-based economy

Mosamania

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Aiming toward a knowledge-based economy

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Members of a Saudi delegation attend the 3rd session of Saudi-Chinese Youth Dialogue which began at Beijing University, Thursday.



Doha Ghouth
Saudi Gazette

The King Abdullah Scholarship Program (KASP) was the starting point of turning the Saudi economy away from oil dependency and toward a knowledge-based one. Launched in 2005, KASP is considered the largest scholarship program in the history of the Kingdom.

Some 30 countries have accepted over 200,000 KASP students, aiding the Kingdom in educating two generations of men and women. Abdullah Bin Abdul Aziz Al-Mousa, Undersecretary at the Saudi Ministry of Higher Education for Cultural Missions Affairs, spoke about the outcomes of the scholarship program and expectations of the KASP students.

“Educating our youth is not only beneficial to our economy but makes us proud of these young men and women who will equip newer generations with high quality education and experience,” Al-Mousa said, adding that the ministry’s support of the scholarship program shows that it is compatible with the needs of the local labor market.

“The program will come to an end at some point but extending it from five years to 10 years shows how much the country is willing to invest in its youth by providing them with nothing but the best.”

Al-Mousa said KASP has helped rebuild relations between countries. “The conduct of Saudi students overseas had disproved many stereotypes of Saudi society. Many students have even set up charities in the US, the UK and Canada. One of the largest Saudi student populations resides in the US with over 30,000 students entering only the best American colleges every year.”

Osama Tayeb, President of King Abdulaziz University, said he sent 100 instructors abroad this year so they can return and give back to their country.

“It is not about what we lack in Saudi Arabia but more about what we need and that is the main reason behind this program. By sending instructors abroad, we are going to have our brightest educators teaching our students what they need to see the world from a different angle,” said Tayeb.

For students, KASP allows them to study in some of the most innovative fields around. Majed Madani, a student researching stem cell reconstruction, said the program allowed him to go to Germany and conduct groundbreaking research.

“I owe my life to this program because what I study is one of the most innovative fields of medicine which I would have never chosen had I remained back home. After trying different universities, I couldn’t find the specialty that served my passion and curiosity but coming to Germany has changed all of that,” he said.

Saudi Gazette - Aiming toward a knowledge-based economy
 
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For Saudi Arabia, transforming itself into a knowledge based economy could be a tall order; however aiming to become one is a good step forward
 
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For Saudi Arabia, transforming itself into a knowledge based economy could be a tall order; however aiming to become one is a good step forward

Mosa can correct me if I'm wrong but in the last decade or two they've probably invested more in their human resource then probably most of the Muslim World combined ! Inshallah the dividends of that will be apparent to all soon !
 
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Mosa can correct me if I'm wrong but in the last decade or two they've probably invested more in their human resource then probably most of the Muslim World combined ! Inshallah the dividends of that will be apparent to all soon !

Investment is one part of the story, there are other parts where Saudi Arabia is badly lacking.

86% of Saudi Arabia GDP comes from oil, reversing it will be a tall order
 
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Investment is one part of the story, there are other parts where Saudi Arabia is badly lacking.

Dude to use an analogy think of this as a time-deposit ! Whatever you sow...you reap ! Its not as if they're pumping money down a barren well !
 
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Dude to use an analogy think of this as a time-deposit ! Whatever you sow...you reap ! Its not as if they're pumping money down a barren well !

There is something called 'Curse of Oil'. It seems that it is true. No economy that is heavily dependent on oil is a knowledge economy, because they don't need to be one.

Building knowledge economies is a continuous process, and depends heavily on past knowledge base. Big bang investments in education may not yield the desired results.

Competition is the key to Knowledge economies, and that is where Saudi Arabia is lacking.
 
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There is something called 'Curse of Oil'. It seems that it is true. No economy that is heavily dependent on oil is a knowledge economy, because they don't need to be one.

Building knowledge economies is a continuous process, and depends heavily on past knowledge base. Big bang investments in education may not yield the desired results.

Competition is the key to Knowledge economies, and that is where Saudi Arabia is lacking.

You seem to be still in shock over the fact that KSA is moving away from Oil and your previous romanticization of the future have come to a halt regarding the "When the oil runs out they will here camels and live in tents again".
 
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You seem to be still in shock over the fact that KSA is moving away from Oil and your previous romanticization of the future have come to a halt regarding the "When the oil runs out they will here camels and live in tents again".

No...I have nothing against KSA. Oil is going to run out in near future and I commend KSA for having the vision to transform its economy; However, with oil you don't have to compete with others and oil is easy money. In knowledge economy, it is not so. Every penny you earn is your hard work. Then there are countries such as US, Europe, China, India etc... which painstakingly build their economies based on knowledge for decades. For KSA to be successful, you have no option but to compete with above mentioned countries on equal terms, and I can assure you it would not be that easy.
 
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Even 77% of whole economy depending on one product is a concern.

Don't get me wrong. I am not saying that Saudi cannot become one, but it would be a tall order. As I was saying in my previous post, competition is the key. And Saudi society is not that competitive.

Economy of Saudi Arabia - Wikipedia, the free encyclopedia

"The Kingdom of Saudi Arabia has been rated as the 13th most economically competitive country in the world, according to the International Finance Corporation (IFC)-World Bank annual "Doing Business" report issued for 2010. The report highlighted the rapid rate of economic growth among Middle Eastern countries, specifically Saudi Arabia, as a result of economic sector reform. For the fifth consecutive year, Saudi Arabia was ranked as the best place to do business in the entire Middle East and the Arab World. Since 2004, the Kingdom has advanced its overall Doing Business rankings, from 67th to 13th.[23][24] A number of policy reforms to promote entrepreneurship are underway."

Also check this out:
Saudi Arabia Ranked 13th Most Competitive Economy in World Bank Report | Reuters
 
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No...I have nothing against KSA. Oil is going to run out in near future and I commend KSA for having the vision to transform its economy; However, with oil you don't have to compete with others and oil is easy money. In knowledge economy, it is not so. Every penny you earn is your hard work. Then there are countries such as US, Europe, China, India etc... which painstakingly build their economies based on knowledge for decades. For KSA to be successful, you have no option but to compete with above mentioned countries on equal terms, and I can assure you it would not be that easy.

remember USA also has vast resources and to get strong and build at the beggining they used them also , theres countries with nearly no resources that built it on which is the real success . Look at congo , said that has the most resources in the world worth trillions.
 
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Economy of Saudi Arabia - Wikipedia, the free encyclopedia

"The Kingdom of Saudi Arabia has been rated as the 13th most economically competitive country in the world, according to the International Finance Corporation (IFC)-World Bank annual "Doing Business" report issued for 2010. The report highlighted the rapid rate of economic growth among Middle Eastern countries, specifically Saudi Arabia, as a result of economic sector reform. For the fifth consecutive year, Saudi Arabia was ranked as the best place to do business in the entire Middle East and the Arab World. Since 2004, the Kingdom has advanced its overall Doing Business rankings, from 67th to 13th.[23][24] A number of policy reforms to promote entrepreneurship are underway."

Also check this out:
Saudi Arabia Ranked 13th Most Competitive Economy in World Bank Report | Reuters

How ease of doing business is related to building a knowledge economy?

And this 'competitiveness' you are referring to is not the 'competition' I am referring to.

remember USA also has vast resources and to get strong and build at the beggining they used them also , theres countries with nearly no resources that built it on which is the real success . Look at congo , said that has the most resources in the world worth trillions.

Oil as a resource assumed importance only after 1960s and US started building its economy much before that.
 
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