Balanced National Development: Conference on Shifting Away From a Petroleum-Based Economy

King Khalid University - Media Center

In late February 2019, the College of Business will host a conference concerning the Vision 2030 strategy and the 2020 National Transformation Project. The event titled 'The Conference of Balanced Development: Studies in HRM King Salman's Economic Vision'. His Excellency King Khalid University Rector, Prof. Falleh R. M. Al-Solamy, explained that the purposes of the event are to review the objectives set forth in the two national programs and to discuss the university's role in helping to achieve those objectives.


Vice Rector of Graduate Studies and Research, Dr. Saad Al-Amry, noted that the conference will focus upon economic and developmental issues in light of national philosophical and cultural values. Specifically, the program will discuss the numerous roles public universities play in implementing the various strategies. Some of the key themes of the programs and the conference are economic diversity in the Kingdom, technological development on a global basis, scientific research, and civic engagement. These are all part and parcel of HRM King Salman's economic and developmental visions, more particularly set forth in Vision 2030. Vice Rector Al-Amry reiterated the key themes of economic and technological development and the roles public universities have in executing these strategies. He further noted the need for balancing economic and technological development with maintaining core Islamic values and social stability within the Kingdom.


Business College Dean, Dr. Fayez Al-Dafra, affirmed that the underlying purpose of the conference is to reach full consensus on the meaning of a 'balanced economy', especially with respect to the need for continued petroleum resources development versus the non-petroleum sectors. The conference will also address the consequential social implications and financial risks associated with the various economic strategies. Dean Al-Dafra explained that the conference will also discuss how the national strategy will greatly affect the Public Investment Fund's opportunities and risks in the near and mid-term timelines. All of this will require clear and thoughtful planning as well as detailed analysis of each project on an ongoing basis he related.


Conference Scientific Committee Director, Dr. Hussain Al-Obaid, addressed ongoing efforts. He reported that 69 papers have been submitted to the committee and 37 are currently under consideration. Twenty-two papers will be presented during the conference during five scientific sessions by researchers from 9 nationalities, including five researchers from outside the Kingdom. The conference will also include several workshops and panel discussions such as the Royal Economic Forum held on the first day of the event. Director Al-Obaid said that these research papers and scientific events are important for our overall objectives.