1 / 13

Preparing Saudi Arabia for Tomorrow s Economy

Overview. Tomorrow's EconomyNeeded Features for Saudi EconomyConsequences of not adequately preparingConclusion. Tomorrow's Economy. Digital Information Presents innovative processing and transmitting techniques.Internet Globalization created new business models using non-conventional re

MikeCarlo
Download Presentation

Preparing Saudi Arabia for Tomorrow s Economy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    1. Preparing Saudi Arabia for Tomorrow’s Economy By Abdulaziz Jazzar October 2002

    2. Overview Tomorrow’s Economy Needed Features for Saudi Economy Consequences of not adequately preparing Conclusion

    3. Tomorrow’s Economy Digital Information Presents innovative processing and transmitting techniques. Internet + Globalization created new business models using non-conventional revenue strategies. Financial common sense has forced changes to Revenue models Change is here to stay. The economy of the future is different from the economy of today The communication industry raised some $489B between 1990-2000 And assumed a dept of some $300BThe communication industry raised some $489B between 1990-2000 And assumed a dept of some $300B

    4. Features of Tomorrow’s Economy Internet dependent E-Trade, E-Government, E-Banking, E-Cash, M-Business, Distant Learning, Tele-Commuting, voice over IP, etc Interdependent Regional Blocks Geographically collapsed Competition New Business and Revenue Models New human skills and resources New Capitalization and valuation techniques Price line is turning corners and expects to be turning profit. E-bay is profitable, Amazon still survives. Price line is turning corners and expects to be turning profit. E-bay is profitable, Amazon still survives.

    5. Important Features we need for Tomorrow’s Saudi Economy

    6. 1- Internet in KSA Better and more Infrastructure Internet Security features Better/more Education (quality, variety, coverage) New E Legislations and Initiatives Opening up of Capital markets Flexible work environment (07:30 – 14:30) Better and more automation of Business Processes

    7. 2- KSA as part of Regional Blocks Align Regional interests, grow buying power, and create Regional blocks Publish Saudi and Regional Statistics and Economic performance metrics (define opportunities) Produce Better and More International business men (think big) Innovative creation and transfer of Technology (Regional view, Saudi Jobs outside KSA)

    8. 3- Accept & Welcome Competition Promote competitive Spirit, opportunities not threats. (Businessmen + Government) Define Jurisdiction of local and foreign law Develop strong Regionally focused Regulatory bodies Develop effective Commercial Courts European Commission blocked the merger of GE and Honeywell. European Commission blocked the merger of GE and Honeywell.

    9. 4- Better Business Environment Apply transparent accounting standards Apply flexible Government regulations (no Standard list of company functions) Promote Entrepreneurship rewards (exit strategies, VC, Financial services (M&A), Incubators) Develop and apply more effective Bankruptcy Law

    10. 5- Better Human Resources skills Encourage innovative and creative spirit (more than schooling) Develop Proficiency Certification Promote continuous Education Promote flexible Education Encourage better technical, business, financial, and legal Education (MBA) The manager of tomorrow needs skills that has not yet been developed in courses at the universities anywhere in the world. He needs to learn for his experience.The manager of tomorrow needs skills that has not yet been developed in courses at the universities anywhere in the world. He needs to learn for his experience.

    11. 6- Capital market More developed and better regulated Public Market Less regulations for IPO’s Independent non-governmental Regulatory body More developed and better regulated Private equity Market Incubators Venture Capital Financial Services Company Better foreign investment incentives. Banks have done a good job but they are not doing enough. Banks have done a good job but they are not doing enough.

    12. Consequences of doing nothing Reduction of Saudi GDP Economy fully dependent on Oil Migration of Capital and Youth to more lucrative markets in the region or elsewhere Employment market fully dependent on Government (Un-employment) Missed opportunity

    13. Conclusion Education: More quality, more variety, and better learning experience Infrastructure: More quantity, better quality, and faster fielding Business: Improved Capital market, Better exit mechanisms, more innovation Government: Less We do NOT have the option of doing nothing.

More Related