Rector opens a symposium on knowledge economy and its developmental role in the Kingdom of Saudi Arabia

King Khalid University, Media Center

The Rector of King Khalid University (KKU), Dr. Faleh bin Rajaa Allah Al Solamy, opened this morning a symposium on the knowledge economy and its developmental role in the Kingdom of Saudi Arabia. The event was organized by the Faculty of Administrative and Financial Sciences.

The aim of this symposium was to emphasize the importance role of knowledge as a driving force for production and economic growth, as well as in response to the Kingdom's National Strategy, which, by 2030, envisages the Kingdom to become a knowledge society in a prosperous, diversified, and a knowledge-based economy in order to cope with the changes imposed by current economic conditions.

In his speech, the university Rector stressed that science and knowledge are among the most important elements of power that the nations are proud of as a source of building civilizations. He pointed out that the 21st century highlights the importance of the knowledge economy, which is the most important factor of progress and cultural prosperity. We live in a time of technical transformation and information revolution, which requires us to pay more attention to science and knowledge so that the development of information technology and modern systems have a clear impact on economic activities, which contributes to creating a real development in society.

Al-Solamy explained that the Kingdom is seeking to build a clear and stable future plan for the transformation of the Saudi society into a knowledge society and contribute to the transformation of its national economy into the knowledge economy by 2020. He pointed out that the knowledge plan with its two stages "Knowledge 1" and "Knowledge 2", aims to make the Saudi society a knowledge society with a knowledge-based economy characterized by a diversity of resources and capabilities, led by productive human resources and the private sector, which will provide a high standard of living and a prestigious international position with the vision of the Kingdom of 2030. Rector Al-Solamy thanked the speakers and participants for their attendance and participation in the symposium. He also thanked the organizers of the symposium from the Faculty of Administrative and Financial Sciences from the scientific and regulatory committees and all those who contributed to the success of this symposium. He said, "We all look forward to the success of this symposium, and we ask God the Almighty- to reconcile participants to posts out recommendations that would serve the objectives and themes of this symposium."

For his part, the Dean of the Faculty of Administrative and Financial Sciences College, who was also the Chairman of the Scientific Committee, Dr. Fayez Bin Dhafrah, welcomed the University's Rector, guests, and participants, thanking them for honoring this symposium. He pointed out that the symposium seeks to communicate with a group of specialists, researchers, and interested persons, with long and distinguished experience, to achieve a number of goals. Most notably, the discussion of the reality and influences of knowledge economy in Saudi Arabia, knowledge of its fundamental pillars, as well as the identification assigned to the government and the private sector's role in support, and also to identify the developmental role of the knowledge economy in the Kingdom, and to discuss the most important challenges and requirements of transformation to the knowledge economy, and evaluate the vision proposed to support and stimulate the Saudi economy.

The President of the Joatha Advisory Center, Dr. Ihsan Buhliqa, delivered a speech in which he thanked the Rector of King Khalid University and the staff of the University for the good reception. He praised the role of the University in this symposium in the fields of knowledge economy, stressing that the knowledge economy in Saudi Arabia will receive great attention during the coming period due to the national transformation program 2020, in line with the Kingdom's vision 2030, hoping that this symposium has an active role in the knowledge economy techniques and basic pillars.

At the end of the opening ceremony, Rector Al-Solamy honored university researchers, participants, and organizers of the symposium. In addition, the Faculty of Administrative and Financial Sciences presented, on the occasion, a memorial shield to His Excellency the Rector.