Rabat, June 4, 2013 – A new World Bank-CMI-EIB and ISESCO report titled “Transforming Arab Economies: Traveling the Knowledge and Innovation Road” shows how an economy based on innovation and knowledge can help promote greater economic growth and spur competitiveness. The report, launched today in Rabat at an event organized with the Islamic Educational, Scientific and Cultural Organization (ISESCO), underlines that greater investment in a knowledge-economy model will be needed to meet the job creation challenge common to the region.
“We hope this report can help countries of the Arab world imagine a new kind of development strategy with a knowledge and innovation-driven model at its very heart,” said Inger Andersen, Vice President for the Middle East and North Africa at the World Bank. “The report lays out helpfully how this approach can help Arab countries diversify their economies and innovate, creating new enterprises and jobs.” …
Many Arab countries have made progress over the last decade in terms of rolling out education access and information and communication technologies (ICT), gradually improving the institutional environment for private-sector led growth. Morocco and Tunisia have worked to support innovation, especially through the creation of technoparks and industrial zones that have attracted foreign direct investment and advanced manufacturing operations. Jordan has embarked on a major effort to transform the education system at the early childhood, basic, and secondary levels to produce graduates with the skills needed for the knowledge economy. The Kingdom of Saudi Arabia has launched a host of education reforms and has invested in the development of new universities, especially to boost science and technology.
The report describes how engaging in a knowledge-economy model involves the implementation of a number of key cross-sectoral reforms that can create an incentivizing environment for innovation and growth. This would require the adoption of a combination of policies, including developing more open and entrepreneurial economies, preparing a more skilled labor force, improving innovation and research capabilities, and expanding information and communication technologies (ICT) and their applications. Rest