Abstract
This paper highlights on the emerging issues that compelled Saudi Arabia in transforming its economy to a knowledge-based one. It discusses the pillars of a knowledge-based economy i.e. the institutional model; education; research and development (R&D); and information and communication technology (ICT) adopted by the World Bank Institute framework to analyze the status of a knowledge-based economy in Saudi Arabia. The primary objective of this article is to understand the status of the knowledgebased economy in the Kingdom of Saudi Arabia. Secondary data was collected for writing the paper. The nine developmental plans of Saudi Arabia (Ministry of Economy and Planning), Ministry of Education reports, Ministry of Communications and Information Technology reports, and Saudi Arabian Monetary Agency (SAMA) reports are some of the important sources of data. The government of Saudi Arabia has laid the foundation for transforming its economy to a knowledge-based one but more is required especially in the field of human resource development and innovation to expedite the easiness of the transforming process.
Highlights
The Kingdom of Saudi Arabia: Emerging Issues: The Kingdom of Saudi Arabia is the largest country in the Arabian Peninsula and the second largest in the Arab world
The establishment of the Kingdom, the discovery of oil in the Eastern province in the 1930s and the rebuilding of western countries after the World War Two, for which there was a great demand for oil were the three major factors that shaped the economy of modern Saudi Arabia
The following section is an analysis of the initiative taken by the government of Saudi Arabia focusing on the four pillars of a knowledge-based economy, government development plans, education, research and development and information and communication technology
Summary
The Kingdom of Saudi Arabia: Emerging Issues: The Kingdom of Saudi Arabia is the largest country in the Arabian Peninsula and the second largest in the Arab world. The following section is an analysis of the initiative taken by the government of Saudi Arabia focusing on the four pillars of a knowledge-based economy, government development plans, education, research and development and information and communication technology. The government of Saudi Arabia faces a number of challenges that might cripple its progress in achieving the desired result of its development plans unless they are resolved Such challenges are the dramatic increase in the population of the youth, women participation in the labor market and the implementation of those plans. Education: Building a knowledge-based economy to support sustainability of economic growth and development is a key challenge to the efforts aimed at diversifying the economic base and enhancing the competitiveness of the national economy and its export potential To meet this challenge, the government included numerous policies and programs in the Eighth and Ninth Developmental Plans. Encouraging Internet use among nonusers could be accomplished by increasing the availability of online Arabic content; through promoting a culture of productive technology use from early stages of education
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