Reducing dependence on oil revenue, speeding up education reforms, ending bureaucratic delays are the three main concerns of Abdulmohsen A. Al-Yahya, CEO of Kudu.
“Saudi youth are trustworthy enough to drive the speedy growth of the Kingdom in the coming 20 years,” Al-Yahya told Diana Al-Jassem of Arab News in an exclusive interview. He stressed the need for encouraging Saudis to embark on start-ups and inculcate the spirit of entrepreneurship instead of waiting for handouts or subsidies from the welfare state. He added that he started his business with only $ 65,000.
Al-Yahya is of the opinion that the new Saudization rules are “unhealthy” for the Kingdom’s economic growth and could stifle small and medium enterprises (SMEs) in the coming 20 years.
Rapid change
What, in your opinion, are changes that will have major impact on the lives of Saudis during the next 20 years?
Saudi Arabia's economic growth is widely acknowledged, but it is due to its full dependence on oil that is bringing in huge oil revenues. The government should decrease its dependence on oil as a major source of income and increase other sources for its revenues. To build the Kingdom we need to develop human capital, improve the education system and support overseas study programs.
Role of leadership
What do you think of the leadership roles of organizations in the Kingdom and what are the factors/reasons for their current state?
Leadership is important for any society. Leaders have to be good role models for our youth and the new generation. They should encourage our youth and prepare them to take up responsible roles in society. The leadership should create job opportunities and play a major role in establishing stable businesses.
Challenging task
What are the most difficult decisions that need to be implemented in the Kingdom during the next 20 years?
The most difficult decision is to change the mindset of our citizens who depend heavily on government subsidies. Moreover, we should move toward being less bureaucratic in official dealings.
Sustainable development
What goals would you set for the Kingdom's onward development and how could these goals be achieved through your current position?
My prime goal is to push Saudi Arabia to become one of the leading nations in economic and political terms. I also would love to put full confidence in Saudis and encourage them to become more productive as well as creative.
Give me an example of the most creative project that you wish to establish in the Kingdom.
Creative projects I would like to see in our country are related to the tapping of solar energy and encouraging youth to become more entrepreneurial.
KSA in three words
What three words would you use to describe the Kingdom in the coming 20 years and why the three chosen words?
The best three words that I prefer to describe the Kingdom are "Heartland of Islam." I choose these words, as I believe that Saudi Arabia will always be the place of the two holy mosques where millions of Muslims will keep coming to this holy land.
Regarding the Kingdom's officials, what characteristics do you think are important for them?
Two main characteristics needed for the Kingdom's officials are high ethical standards and competence to work professionally.
Human rights
How can we all improve human rights in Saudi Arabia and what are your expectations?
Human Rights are part of the deliverance of justice. Without applying human rights, the society will not survive. Therefore, I think Islamic laws are sound and ensure the rights of all people. In my country this issue is a challenging one and people raise it occasionally. For example, the level of corruption is going up. Our role in the coming 20 years is to cooperate with all and together we eliminate corruption. However, this step will be the first toward improving the society and ensuring human rights.
Knowledge hunt
Education is always a priority of the Saudi government. What changes do you envisage for the education system to fit the Saudi youth in a knowledge-based economy?
Major changes are required in investment research and improving the quality of education. There is not enough funding for research and the education system does not provide for creating suitable candidates for the job market. Education reforms are an essential element for the development of any nation. The government must focus more on boosting the quality of education to support the market needs and cope up with the advanced world.
Biggest challenge
What is the biggest challenge facing the Kingdom today?
There are three major challenges the Kingdom is facing today. These relate to employment, education reforms and corruption elimination.
Housing growth
There is a huge demand for housing in the Kingdom because of the increasing young population. The government has also put an emphasis by allocating SR 250 billion in the budget for housing. Do you believe housing sector needs much more attention from the government and private sectors?
The Kingdom's effort in terms of offering houses for low-income citizens is a step in the right direction. What we should be looking for is to satisfy the people's needs despite the high demand for houses, high land prices and ever growing population.
Role of SMEs
There is a need to boost small business enterprises (SMEs) sector in the Kingdom as it creates various jobs. What role do you see for SMEs in the Kingdom's economic development?
Most advanced economic countries worldwide are depending on SMEs to drive growth, create jobs, and boost business. However, our new Saudization system might unfortunately stifle this sector.
Fair opportunities
How do you see Saudi women's contribution in the labor, social and political arenas in the next 20 years?
Saudi women are among the underutilized resources in the country. They are highly educated and committed. The government invests billions of riyals for educating women, but at the end of the day they stay home as they fail to find job opportunities. A recent report estimated the rate of unemployed women at 80 percent. Our company's experience with working women is positive. It has encouraged us to hire more women.
Saudi media
What measures and standards are yet to be (and must be) applied to Saudi media and what are your expectations in the next 20 years? And what impact will social media have regarding change in the Kingdom?
Saudi media has made a huge effort to dominate all of the pan Arab media scene. However, I would like to see more regulations and more reliability in media monitoring. Talking about social media, I think it has already left a huge impact in terms of the freedom of speech. I believe that social media is a great tool to teach traditional societies to be responsible and respect divergent opinions.
Learning from the past
What are three or four mistakes that have been repeated in the Kingdom during the past two decades? And how could we eliminate these mistakes in the interest of the country's onward progress?
I believe that mistakes always provide great learning sessions. I can name two major mistakes that could be eliminated in the near future. The mistakes are: One, continuing to depend on oil as the main source of income. Two, keeping same officials in their posts for a long period of time, which leads to complacency at best and corruption at worst.
Message to youth
Given that the youth make up the majority of the Saudi population, what message would you want conveyed to them? And what else would you say to the rest of the population?
Saudi youth should realize that our country is the land of opportunities despite worldwide recession. Therefore, they should not wait for the government's handouts, but should start their own business. My Kudu startup was done with my partners 25 years ago with just $ 65,000 and today Kudu is the largest quick service restaurants in the country with over 220 outlets nationwide.
Major change required for:
— Reducing dependence on oil
— Reforming education reforms
Leadership should:
— Encourage youth to work
— Ensure stable business
— Create jobs for youth
Difficult decisions relate to:
— Stopping giving subsidies as a welfare state
— Moving from bureaucracy
Major goals to develop the Kingdom:
— Push the Kingdom to rank number one
— Encourage Saudis to create and innovate
His creative projects
— Utilization of solar energy
— Encouragement of Saudis to be entrepreneurial
He describes the Kingdom as:
— Heartland of Islam
Officials should have:
— High ethical standards and display honesty at every level
— Competence to do any job professionally
Biggest challenges:
— Employment of Saudis
— Education reforms
— Fighting corruption
Role of SMEs:
— Saudization will stifle SMEs
Two mistakes he lists:
— Full dependence on oil as the main revenue source
— Keeping same officials in their posts for a long period
Message to youth:
— Don't wait for the government's handouts
— Start your own business
— Make use of the Kingdom's vast scope of opportunities
