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The Symposium on Knowledge Economy and its Developmental Role in the Kingdom of Saudi Arabia, which organized by the College of Administrative and Financial Sciences at King Khalid University, witnessed four scientific sessions.
The first session was chaired by the Dean of the Faculty of Administrative and Financial Sciences, Dr. Fayez Bin Dhafra. The participants discussed the indicators of the knowledge economy in the Kingdom and its main technical pillars. The Director-General of Investment in the Abdullatif Al-Essa Holding Group, Dr. Abdulwahab Abu Dahesh, submitted a paper in which he confirmed that although the Kingdom of Saudi Arabia leads the Arabian countries the in patents in 2016 and although it has more than 16 combined countries have in this field, however, the reality of the knowledge economy in the Kingdom is still nascent; most of these patents have not been translated into reality, they may take a long time or disappear, thus it may represent a burden on the national economy and don't add value. This is attributed to the absence of incubators for such patents and to the desire of some owners to export them abroad due to the absence of local regulations and laws, such as intellectual protection.
Abu Dahesh called for doing more to transform these patents into products that contribute to the Kingdom's economic growth.
For his part, the Chairman of Joatha Consulting Center, Dr. Ihsan Buhliqa said, "In order to enable our national economy to take advantage of the opportunities offered by the Fourth Industrial Revolution, we need to provide a favorable environment on the one hand, and before that the strategic vision of 2030, and to develop an integrated system of policies that will drive the transformation effort to make our economy benefit the extent possible to replace the machine in place of the worker, making our economy more productive and less in need of foreign workers, and better qualified, to provide valuable jobs for citizens"
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