Latest news with #knowledgeEconomy
Zawya
28-05-2025
- Business
- Zawya
Qatar's knowledge transformation, shaping a diversified, sustainable economic model
ECONOMY He noted that sectors such as manufacturing, services, and agriculture have shown measurable improvements thanks to AI assessments PHOTO DOHA - The State of Qatar is steadily positioning itself as a leading regional hub for the knowledge economy, aligning its progress with the Qatar National Vision 2030 - a long-term roadmap guiding the nation's development across all sectors. Central to this vision is the transition from a resource-based economy to one built on knowledge, innovation, and technology. Key pillars of this transformation include investments in digital infrastructure, development of national talent, adoption of advanced technologies, and support for startups - all of which have drawn positive attention in global benchmarks. Qatar made a notable leap in the 2024 UN E-Government Development Index (EGDI), climbing from 78th to 53rd among 193 countries. It also ranked fifth globally in the Telecommunications Infrastructure Index (TII), reflecting major institutional efforts to accelerate digital transformation. Strategic partnerships with tech giants like Microsoft, Google, and IBM have supported this momentum by promoting knowledge transfer and implementing initiatives in cloud services, cybersecurity, machine learning, and more. Qatar's digital journey began in 2003 with the launch of its e-government platform and gained further momentum in 2014 through the Qatar Digital Government Strategy 2020. Today, the "Qatar Digital Agenda 2030" provides a comprehensive framework for national digital transformation, aiming to leverage advanced technologies to drive economic and social development. This agenda is built on six core pillars: digital infrastructure, digital government, digital technology, digital innovation, the digital economy, and digital society. It outlines 23 strategic initiatives scheduled through 2030 and targets increasing the digital sector's GDP contribution to USD 3.2 billion annually, or roughly 1.3 percent of GDP - up from 1 percent currently. The transformation also aligns with Qatar's Third National Development Strategy (2024-2030), which sets specific targets such as automating 90 percent of government services (approximately 1,500 services) by 2030 and improving Qatar's global rankings in governance and smart government performance, directly enhancing government efficiency and transparency. Additionally, Qatar established the Artificial Intelligence Committee under Cabinet Decision No. 10 of 2021, serving as the primary body for developing national AI policies and implementing the National AI Strategy, launched in 2019. Qatar's advanced digital infrastructure is a major asset, as the country ranks first globally in mobile internet speed. According to the April 2025 Speedtest Global Index by Ookla, 5G and fiber-optic services cover more than 99 percent of the population. This foundation enables the use of cutting-edge technologies such as AI, cloud computing, and big data. Speaking to Qatar News Agency (QNA), Chief Business Officer at Ooredoo Qatar, Thani Ali Al-Malki, said the company is finalizing its rollout of standalone 5G (5G SA) - a critical enabler of next-generation applications like smart cities, autonomous vehicles, digital learning, and smart healthcare. He added that Ooredoo is also expanding national data center capacity and investing in cybersecurity and local cloud solutions, in partnership with global tech leaders. The company operates an advanced AI platform powered by NVIDIA GPUs, further solidifying Qatar's regional digital leadership. Beyond infrastructure, Qatar is investing in human capital. The digital agenda aims to create around 26,000 jobs in the ICT sector by 2030 and raise Qatari participation in the sector to 10 percent, reflecting Qatar's belief that people are both the driving force and the beneficiaries of digital transformation. In this regard, Al-Malki reaffirmed Ooredoo's commitment to its role as a national enabler of digital transformation by investing in Qatari talent. The company has launched advanced technical skills development programs and hands-on training in cutting-edge AI tools and data analytics. He also highlighted the creation of a Data Governance Council at Ooredoo to foster a culture of responsible innovation. He stated that through Ooredoo's partnerships with global academic and technology institutions, it aims to cultivate a new generation of digital leaders equipped to drive the country's technological future in line with Qatar National Vision 2030 and supports the objectives of the Digital Agenda set by the Ministry of Communications and Information Technology. Qatar recognizes that the success of its knowledge-based transformation goes beyond infrastructure and technology-it also requires adaptive and secure regulations that keep pace with rapid advancements while ensuring the responsible use of modern technologies. To support this vision, the country has implemented clear policies on data governance, privacy protection, and cybersecurity, fostering a safe and trustworthy digital environment. Acting General Manager, Qatar Chamber, Ali Bu Sharbak Al-Mansori, emphasized to QNA the crucial role of digital transformation in fostering economic growth and diversification. He pointed out that Qatar Chamber has introduced various initiatives to advance this sector, including the development of the National AI Strategy, tailored training programs for entrepreneurs specializing in artificial intelligence, and support for technological entrepreneurship. Additionally, efforts have been made to improve the digital infrastructure and establish business incubators and accelerators focused on AI, creating opportunities for small enterprises to thrive in this evolving landscape. Al-Mansori pointed out that the private sector, particularly SMEs, requires greater support to keep pace with the rapid advancements in technology and fully leverage AI. He emphasized the challenges posed by high investment costs in AI infrastructure, including acquiring advanced software, maintaining and upgrading systems, and securing specialized talent in the field. He also noted that limited awareness of AI's potential and benefits could lead some companies to hesitate in adopting AI technologies or allocating resources toward them. Regarding whether current regulatory and legislative policies keep pace with AI innovation and the urgency of legal updates, the Acting General Manager of Qatar Chamber highlighted the unprecedented acceleration in the growth and expansion of AI technologies across various sectors. He stressed the pressing need to update laws and regulations to align with the rapid evolution of AI, ensuring that legislative frameworks remain adaptable to its complexity and innovation-driven advancements. He also stressed the need to update the legislative and regulatory framework to reflect the unique advantages offered by AI technologies. He pointed out that such updates would foster innovation and competitiveness, ensure transparency, protect individual rights and societal values, and take into account the ethical and economic dimensions of this emerging technology. Qatar's knowledge-based transformation continues to gather pace, reinforced by strong institutional backing for innovation. The country is actively fostering a supportive environment for startup growth and advancing applied research and technological development through institutions such as Qatar Science and Technology Park, Hamad Bin Khalifa University, and specialized AI centers. These centers increasingly play a key role in data analysis and evidence-based policymaking. This strategic shift is already impacting the structure of Qatar's economy. Estimates suggest that the ICT sector's contribution to non-oil GDP is expected to rise to 3.5 pct by 2030, signaling the country's broader move toward economic diversification and reduced reliance on hydrocarbon revenues. The Ministry of Communications and Information Technology estimates that digital transformation will contribute approximately QR 40 billion (about USD 11 billion) to the economy through increased productivity and improved efficiency in both public and private sectors. Speaking to QNA, AI expert Abdulrahman Ali Al-Harib highlighted that artificial intelligence is having an immediate and effective impact on sustainability and economic prosperity. AI enhances efficiency, reduces costs, improves product and service quality, and fosters innovative solutions in fields such as renewable energy, healthcare, education, and industry. It also creates new economic opportunities by enabling data-driven decision-making across governments, businesses, and individuals, ultimately boosting economic growth and job creation for a more sustainable future. Al-Harib, who holds a master's degree in AI from the University of Texas and specializes in environmental sustainability research, noted that the emergence of AI has unlocked industrial, commercial, economic, and agricultural insights that were once exclusive to developed nations, adding that there is no longer an excuse for developing countries not to compete globally in all fields. To accurately measure AI's real contribution to GDP, Al-Harib emphasized the need for big data and pre- and post-AI economic output analysis. He urged decision-makers to treat domestic data sources as strategic national assets and to halt the free export of this data. At the same time, he recommended that the state should prioritize data imports and maintain robust national data reserves. He noted that sectors such as manufacturing, services, and agriculture have shown measurable improvements thanks to AI assessments. He called for the creation of international digital platforms to support data collection from around the world. Regarding national tools to assess AI effectiveness, Al-Harib advocated for establishing a dedicated national AI agency responsible for monitoring key performance indicators (KPIs) across various sectors and supporting research centers focused on economic, industrial, agricultural, and other vital areas. While Qatar continues to advance in digital capacity building, it is also working to embed a knowledge-driven culture across society. Through various programs, the country aims to enhance digital awareness and empower citizens to engage positively with technological advancements. National programs such as the "Qatar Digital Challenge" and the "Digital Skills for All" initiative aim to promote digital literacy, particularly among women, youth, and persons with disabilities. The healthcare sector is another success story of Qatar's digital transformation, marked by the adoption of electronic health records, medical information systems, and remote monitoring applications. These innovations have improved healthcare delivery, reduced geographic barriers, and expanded access to care. Qatar's knowledge transformation represents a national pathway aimed at creating a competitive economy and a sustainable society rooted in innovation and entrepreneurship. Despite global challenges posed by rapid technological change and its associated risks, Qatar's determination to advance is evident in its positive indicators, ambitious policies, and sustained investments in human and technological capital. What is unfolding in Qatar today is more than just a transition to a digital economy - it is a fundamental reconfiguration of the country's production and consumption model. The emphasis is shifting from resource abundance to knowledge abundance. As 2030 approaches, Qatar is increasingly well-positioned to serve as a global model for integrated knowledge transformation. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Zawya
26-05-2025
- Business
- Zawya
Oman: The nexus of ICV, human capital development
Oman 2040 strives to dynamically shift the limb of Oman's economic structure towards a diverse knowledge-based economy alongside social development. Another goal is to fulfill the objectives of Vision 2040 which has, in turn, resulted in Oman setting new bounds for productivity and innovation. A central element, for now, is mobilized towards a strategic policy called ICV (In-Country Value) which aims to cultivate the local economy by restricting the outflow of economic value from Oman, enabled through sustainable job creation and localized employment. Alongside this is the Human Capital Development which strives to build an innovative Omani workforce capable of sustaining the nation's long term growth. This powerful synergy between ICV and Human Capital Initiatives serves to yield immense value for Oman through nurturing the local talent to eradicate over dependency on foreign labor. Not having to spend externally on essential profits that come through employment results in an economically self sustaining country. This serves, alongside capturing the cores of capital depletion, to cultivate the intellect Oman needs to stay relevant competitively in the future. This text analyzes the intricate relationships of ICV and Human Capital Development in Oman, which examines how policies, strategies for specific sectors, and education systems are integrating to achieve sustainable and inclusive growth. By addressing the gaps, highlighting the success stories, and offering strategic insights, we aspire to demonstrate how Oman can optimally utilize ICV to emerge as a leading regional human-centered economic development hub. The pillars of ICV include: Employment and training of Omani nationals; Retention of expenditure within Oman; Retention of local service providers and suppliers; and Omani goods and services. All of these pillars support Oman Vision 2040 which states that there is a need for a highly productive and empowered workforce to sustain a diversified and sustainable economy. There exists a legal framework to regulate and monitor the ICV delivery of a company's ICV initiatives through tendering processes where they have to submit ICV plans and mandatory ICV reports. In the oil and gas spheres, there is new legislation that requires companies to budget for mandatory spending on training Omanis, local SME support, and funding community development projects. This has resulted in the establishment of training and certification centers, and even working with local schools to develop programs valued by the workforce. This is how ICV has transformed from a policy instrument into a tool that strategically drives socio-economic development by ensuring that Oman's natural resources and industrial projects result in sustainable national value. DEVELOPING HUMAN CAPITAL (HCD) IN OMAN The term 'Human Capital Development' describes the enhancement of skills, knowledge and competence of an individual so that productivity and contribution to the economy improves. In regard to Oman, human capital development is crucial for achieving the objectives put forth in Vision 2040 where innovation, inclusivity and human empowerment forms the basis of human society. During the past two decades Oman has significantly improved its education, vocational training and general workforce development. There has been a remarkable improvement in the access to primary and secondary education and an increase in the number of higher education and technical colleges. Sultan Qaboos University and the University of Technology and Applied Sciences along with several private colleges have played a significant role in providing a workforce of skilled graduates. The Omanisation policy is one of the main elements of Oman's human capital strategy. The Omanisation policy is meant to reduce the reliance on foreign labor by putting up minimum hiring quotas for Omani nationals in all sectors and industries. Employment opportunities for nationals are guaranteed while at the same time boosting citizens' participation in economic are on-going, but problems remain. There is still a gap between qualifications and actual jobs because the available education does not match opportunity, which businesses regard as having sufficient soft skills, technical skills, and work experience. Hence, there appears to be greater focus on real-world applications through curriculum reforms, strengthening STEM fields, and initiatives supporting education. Consequently, a number of new government initiatives have been implemented, including: The National Training Fund (NTF), which finances training activities within specific industries for employers; Educational scholarships which, accompanied by internships, enhance career prospects through tangible, real-life engagements; and Creative self-employment innovation and entrepreneurship hubs for schools designated to advance innovation and guide students in setting up their businesses. Additionally, training is being provided through public-private partnerships to improve quality and relevance. For example, several leading companies in energy have collaborated with vocational training schools to develop and implement vocational training programs tailored to industry expectations. This ensures that the development of human capital is not only through government policy but also from the current requirements of the economy. Introducing sustainability to economic policies, human capital is regarded as a key element of international competitiveness and productivity. Oman is focused on improving the skills and capabilities of its people, which in turn lays the groundwork for sustainable growth of the country's economy for years to come. COMBINATION OF ICV WITH HUMAN CAPITAL DEVELOPMENT Merging ICV with human capital development gives rise to an economic opportunity in Oman that is planned and executed to achieve inclusivity. This approach fulfills the objective that economic integration should not simply raise revenue, but also provide more value through positive and constructive participation by Omanis as leaders. ICV strategies are often implemented as a follow-up to human capital strategies, as they incorporate workforce creation into procurement and operational policies of the business. For instance, there is a general obligation for companies in Oman to train their staff, create Omani national employee retention strategies, and sponsor local universities by assisting with teacher appointment and building school facilities. Various leaders in the oil and gas industry such as Petroleum Development Oman (PDO) undertake comprehensive ICV strategies, giving rise to large-scale workforce development projects. These include vocational training, leadership training and in most cases the provision of the required prerequisites with Omanis having the needed technical and non-technical skills to compete in the industries. In the same manner, the ICV policies have been implemented in the health sector through clinical trainings, medical teaching programs, and research partnerships. These initiatives improve health services within the country and also ensure that Omanis have a key role in the development and governance of the sector. Targeted ICV interventions also benefit the Information and Communication Technology (ICT) sector which is considered to have high potential under Vision 2040. Such measures include coding boot camps, digital skills training, and technology-focused business incubators directed at enabling young Omanis to contribute to the digital economy. Oman's integrated approach relies heavily on public-private collaborations. Direct involvement of companies in talent management ensures that Oman is providing relevant and modern skills. This provides Oman with a competent and engaged local workforce, improving the company's productivity, and social acceptance to work in that region. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Wall Street Journal
07-05-2025
- Business
- Wall Street Journal
The Virtues of the ‘Knowledge Theory of Value'
William Nordhaus in Stockholm City Hall, Sweden, Dec. 10, 2018. Photo: jonathan nackstrand/Agence France-Presse/Getty Images Kevin Hoover suggests that William Nordhaus relied on the labor theory of value in his paper on light (Letters, April 24). Yet Nordhaus actually used knowledge, not labor. He offered a method to measure innovation: the discovery and sharing of valuable new knowledge. Nordhaus measured the amount of knowledge per unit of time and observed that knowledge about light was growing exponentially, surpassing traditional measures of economic development. It is the time price over time that truly deserves our attention. Economic theories offer different frameworks for understanding value, each rooted in distinct assumptions about what drives it, how it is measured and what it implies for economic systems. Adam Smith and Karl Marx proposed a labor-based theory of value, measuring 'surplus' and emphasizing scarcity, exploitation and redistribution. In contrast, we propose a 'knowledge theory of value,' grounded in abundance, innovation and entrepreneurship. This framework explains the vast differences between our age and the Stone Age. As Thomas Sowell observed, when we go to the market, we are trading knowledge, which creates value. We measure this creativity through time, specifically using time prices, the ratio of money prices to hourly income. As we discover and share more knowledge, time prices fall, reflecting increasing abundance.
