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King Khalid University is set to launch a conference title 'Balanced Development: Studies in Light of the King Salman Economic Vision' on Monday the 20th of Jumādá Al-Ākhirah at Abha Palace Hotel for a period of two days.
King Khalid University Rector, His Excellency Prof. Falleh R. M. Al-Solamy, explained that the idea behind the conference was inspired by a speech delivered in 1436 by the Custodian of the Two Holy Mosques. In that speech, His Royal Majesty asserted that the Kingdom's new economic vision will be based on a strategy of balanced development. This means that the Kingdom will move away from relying primarily on the petroleum industry. While petroleum will remain a valuable resource, the nation will diversify its resources and economy into many different sectors. His Excellency Rector Al-Solamy said this conference is focused on ways in which we can help achieve this diversification objective.
Vice Rector of Graduate Studies and Research, Dr. Saad Al-Amri, said that successful national program objectives and strategies require a thorough understanding of practical development challenges and absolute clarity in the objectives set forth in the national strategy. Economic and scientific development cannot be done in a vacuum. That is, all efforts must be done in light of cultural and religious values and norms. This conference, as explained by Vice Rector Al-Amri, explores developmental objectives in light of existing economic realities.
Dean of the College of Business at the University, Dr. Fayez Dafra, stressed that the conference aims to better define balanced development concepts and potential social impacts in both the current and expected economic and geopolitical environments. Part of this effort requires careful of various economic development models used throughout the world. These models include various critical factors including GDP, price of oil, Public Investment Fund performance, population changes, social and military security factors, and digital transformation. Of course, existing models would be modified based on the Kingdom's specific goals and circumstances.
Chairman of the Scientific Committee of the Conference, Dr. Hussein Al-Obaid, said that 69 papers were submitted for consideration to the conference. Of those submitted, 37 were transferred to the committee and 19 papers were approved for presentation at the conference. Of noteworthy mention, the scientific committee was careful to include a diverse group of topics for the conference to best serve a broad range of stakeholders.
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