“There is a need to develop untapped potentials of Saudi Arabia, its people and its resources,” said Brown in his speech.
With knowledge replacing physical resources as the key ingredient in economic development, “education and human resource development (HRD) policies require rethinking,” said Brown, who spoke during the opening ceremony of a KSU forum on entrepreneurship and knowledge-based economies organized. He called on Saudi scientists and researchers to work hard to produce competitive and innovative products as well services for domestic and international markets.
He said that knowledge creation and management have been widely recognized as the main driving force for the economic growth of advanced economies. In the knowledge-based economy, learning, research and human capital are key variables in the development of firms, sectors and countries, he added. Brown recalled his talks with Custodian of the Two Holy Mosques King Abdullah in his previous visit, saying that the king expressed his keen desire to derive benefits from international experiences.
He said that this keen desire of the king to promote knowledge-based economy is evident from the large amounts of state’s budget that has been earmarked for education and training. The opening session was also addressed by Michael Moore, former prime minister of New Zealand. The two former prime ministers are among a group of 15 speakers who will address the three-day forum.
“The KSU has taken this major step to organize this event,” said Abdullah Al-Othman, KSU rector. “We are happy to invite the pioneers of knowledge economy to this forum.”
Moore, who once served as the director general of the WTO, said in his speech that the Kingdom has all the components that will go a long way in promoting a knowledge-based economy.
Prominent Saudi businesswomen were invited to the KSU’s Olaysha campus to listen to the speakers of the forum and participate in workshops.
Key topics to be covered during the forum include Saudi Arabia’s investment in human resources, entrepreneurs, legislation related to entrepreneurship, finance and investment.
