Daunting challenges lie before the Arab-speaking workforce today. Forty million jobs must be created in the next decade to employ the region, home to the highest rate of youth unemployment – not to mention that many countries are still undergoing a period of political transition. The fundamental question about job creation now is where these countries should be headed and how they are getting there.
Moving to a knowledge and innovation-based economy is an idea whose time has come. The links between knowledge and innovation (and by extension, to productivity) are undisputed. And in the same way that productivity is the enabler of an economy, education can be considered to be a fundamental pillar of the knowledge economy. …
All in all, if a move is to be made in the direction of a knowledge economy in MENA, investing in high quality education is essential. This is the key to creating good and decent jobs that are so needed in the region today. The STEP meaning Skills Toward Employment and Productivity approach provides a simple yet comprehensive way to look at skills development for more jobs and higher productivity. It also helps to orient the areas of action needed in the Arab world. These issues, and more, are further explored in the World Bank’s forthcoming report: Transforming Arab Economies: Traveling the Knowledge and Innovation Road (World Bank 2013). Full post
Dubai: The knowledge-based economy will contribute 5 per cent to the UAE’s gross domestic product (GDP ) by 2021, Sultan Bin Saeed Al Mansouri, Minister of Economy, told media on the sidelines of The Second Forum of Economic Policies.
“Based on UAE strategy 2021, knowledge-based economy which is directly based on the production, distribution and use of knowledge and information should contribute five per cent in the UAE GDP,” he said.
Al Mansouri recently called to develop a unified GCC strategy to formulate and maximise performance and well-being in knowledge-based economies. Rest
Thanks to my friend, Phil Yanov, I am at InnoVenture 2013 “live blogging” about a great line-up of speakers this year.
9:15 Charlie Farrell just presented on the SC Dept. of Commerce Task Force on Aerospace and Aviation.
9:20 Jim Stike, MIT-RCF, is talking about his 8 year old start-up – born out of patented technology that takes chopped up carbon fiber material and reprocesses it for aerospace components $9 million in Phase I, II, and II grants. Boeing started working with them to reclaim carbon fiber parts. Chopped fiber, rolled goods, preformed goods. Scrap from virgin carbon fiber manufacturers. Advanced materials company – not just a recycler. Boeing scrap is even turned into carbon fiber drum sticks! Looks like lots of great potential for this company.
“We’re thrilled that Bill Gates, Brad Smith, Steve Ballmer, and Sean Parker — longtime advocates for vital policies like comprehensive immigration reform that will grow our economy — are joining FWD.us’ efforts to organize and engage the tech community,” Joe Green, president of FWD.us, said in a statement.
“We’ve been excited by the momentum we continue to see as more members of the tech community contribute to the national debate to improve our economic future, and support the bipartisan policies that will boost economic growth and continue to grow the knowledge economy,” he said. Rest at allthingsD.com
Dan Ariely, Professor of Behavioral Economics at Duke University, continues his string of great TED talks with his latest discussion of what motivates us in the knowledge economy to feel good about our work (TED Talk link).
[The founder of Facebook comments on problems with our current "strange immigration policy" and the need to improve it to help all members of our society gain from the rewards of our knowledge economy]
“Today’s economy is very different. It is based primarily on knowledge and ideas — resources that are renewable and available to everyone. Unlike oil fields, someone else knowing something doesn’t prevent you from knowing it, too. In fact, the more people who know something, the better educated and trained we all are, the more productive we become, and the better off everyone in our nation can be.
This can change everything. In a knowledge economy, the most important resources are the talented people we educate and attract to our country. A knowledge economy can scale further, create better jobs and provide a higher quality of living for everyone in our nation.” Full article
[Pat Riley "gave the ball" to Ervin "Magic" Johnson and the Lakers took off - Robert Hoffman argues that Congress needs to "give the ball" to the knowledge economy so the U.S. can become fully productive]
“It’s time for our policymakers to realize that the knowledge economy — the diverse array of existing innovative businesses, along with the cadre of current and future entrepreneurs — is being underutilized and needs to become the focal point of U.S. economic growth.
The knowledge economy can begin to reach its full potential if Congress modernizes outdated immigration policies. The central reason why the knowledge economy is underutilized is simple: The current and near-future supply of U.S.-based innovators and entrepreneurs can’t keep up with demand.” Full article
Kudos to President Obama for noting the need for technology and jobs for young people in the Middle East region (see comment with Netanyahu below) and for mentioning Cisco’s program for hiring Palestinian engineers (see comment with Abbas below). You can read more here about the Palestinian Investment Commitment that Cisco has made.
From the President’s remarks with PM Netanyahu:
But the truth of the matter is trying to bring this to some sort of clear settlement, a solution that would allow Israelis to feel as if they’ve broken out of the current isolation that they’re in, in this region, that would allow the incredible economic growth that’s taking place inside this country to be a model for trade and commerce and development throughout the region at a time when all these other countries need technology and commerce and jobs for their young people, for Palestinians to feel a sense that they, too, are masters of their own fate, for Israel to feel that the possibilities of rockets raining down on their families has diminished — that kind of solution we have not yet seen. http://iipdigital.usembassy.gov/st/english/texttrans/2013/03/20130320144530.html
And from the President’s remarks with President Abbas:
I was with President Peres this morning before I came here, looking at a high-tech exhibit that was taking place in Jerusalem. And there was actually a program that U.S. — a U.S. company, Cisco, had set up, where it was hiring young Arab engineers and Palestinian engineers because they were so well qualified, so talented and there was a great hunger for those kinds of skills. Well, imagine if you have a strong, independent state that’s peaceful — all the talent that currently is being untapped that could be creating jobs and businesses and prosperity throughout this area. http://iipdigital.usembassy.gov/st/english/texttrans/2013/03/20130321144547.html
Secretary of State John Kerry and Saudi Arabian Foreign Minister Saud al-Faisal after their meeting on March 4, 2013 at the Ministry of Foreign Affairs, Riyadh, Saudi Arabia
So we’re working side by side to combat violent extremism, to promote more robust trade, and to strengthen the ties between the American and the Saudi people. And His Royal Highness just mentioned the 70,000 students who are studying in America. I come here today to affirm the strength of this relationship and the importance of it going forward. We are committed to maintaining our strong economic relationship and to creating more jobs. On the drive over here, His Royal Highness talked to me about the numbers of young people and the need to provide jobs for them and the work that His Majesty the King and others are all doing in order to provide for a more diverse economy here in the region. We need to do this in both of our countries. We are also working to do that in America.
Full remarks here - [emphasis added regarding movement toward a Knowledge Economy]
Dr. Mohammed Ibrahim Al-Suwaiyel, President of King Abdulaziz City for Science and Technology (KACST) received in his office today Dr. Cho Seok, The Korean Vice Minister of Knowledge Economy, in presence of Prince Dr. Turki Bin Saud Bin Mohammad Al Saud, KACST Vice President for Research Institutes.
During the meeting, Dr. Al-Suwaiyel spotted the light on the efforts exerted by KACST in fields of supporting and conducting scientific research, energizing their activities on the kingdom’s level, coordinating among the scientific research entities, universities and the private sector as well as consolidating exerted efforts; citing some of KACST’s remarkable accomplishments and its cooperation with the international research bodies, centers and institutions in the vital domain.
KACST President laid a heavy stress on the importance of scientific cooperation among the international research bodies, centers and institutions, harnessing available physical and human capabilities and trading scientific expertise and visits in the ways that best serve the strategic objectives of these bodies, centers and institutions towards the comprehensive and sustainable development as well as international competitiveness in the world of knowledge-economy.