Riyadh Economic Forum recommends the formation of a knowledge economy and IT development entity

Riyadh, Safar 27, 1437, December 09, 2015, SPA — Following deliberations while studying a working paper titled “IT Promotion as a Stimulant of Development and Transfer to Knowledge Economy”, the Riyadh Economic Forum, running into its second day at Riyadh International Center for Conferences and Exhibitions, has underscored the importance of forming a constitutional entity for knowledge economy to be able to draw a clear applicable road map to mobilize the performance of diversified agencies relating to knowledge economy.
The study, reviewed in-depth by a host of specialists and those interested in information technology sector and knowledge economy at the session, presided over by Dr. Mohammed bin Suleiman Al-Jasser, the Advisor at the Royal Court, in the attendance of the Minister of Communications and Information Technology Dr. Mohammed Al-Suwayel, urged work to develop the legal and legislative frameworks for IT activities in a way that enhances the competitiveness of the sector and provides active performance of small and medium companies amid appropriate climates of this sector.
The study, reviewed by a team led by Dr. Abdulrahman Al-Eraini, and membership of Dr. Najah Al-Qablan, a teaching female staff of Princess Nura University, also called for forming the industrialized component of IT and rectifying the imbalance resulting from the presence of overwhelming distribution and trade agents activities as part of an endeavor to transfer the society to a knowledge economy before completely settling at home the IT industry.
It also called for matching the requirements of highly professional IT industry with the current educational human output, citing the need to apply the cloud computing system in the under-graduation level and activating e-transactions in retail shops.
–SPA
13:52 LOCAL TIME 10:52 GMT