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
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1. Preparing Saudi Arabia for Tomorrow’s Economy By
2. Overview Tomorrow’s Economy
Needed Features for Saudi Economy
Consequences of not adequately preparing
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
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)
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
We do NOT have the option of doing nothing.