LOC23:24
20:24 GMT
KUWAIT, Oct 16 (KUNA) -- Knowledge-based economies account for seven
percent of the global gross domestic product (GDP), and even posts an annual
growth rate of 10 percent, an economist said here Thursday, quoting UN
statistics.
Such a pattern of economies is attached much attention worldwide,
especially following its gains in several countries and economic institutions,
Dr. Mohamed al-Sadani, chairman of Egypt's Mubarak City for Research and
Technology, addressed a symposium at the Kuwaiti Industries Union.
EU statistics show that 50 percent of European production growth has been
achieved as a result of the use and production of information and
communication technology, he said.
EU member countries are well versed in the field of knowledge-based
economies, the economist added.
Al-Sadani expounded that knowledge-based economy means that knowledge is
the core pillar of economic growth in the economic system, and mainly hinges
upon available information and communication technology, innovation and
digital system.
Efficient and highly qualified human resources are the most valuable asset
in knowledge-based economy, he noted.
The principle of innovation in knowledge-based economy is a very effective
principle especially for deepening links between economic institutions on the
one hand and academic agencies and growing knowledge organizations on the
other hand, Al-Sadani added.
Nowadays, the world is witnessing a considerable surge in the space of
globalizing economic affairs on account of a set of factors, chiefly
communication technology revolution and commercial deregulation at both local
and international levels, he concluded. (end)
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KUNA 162324 Oct 08NNNN