THE COUNCIL OF ECONOMIC UNITY OF THE LEAGUE OF ARAB STATES PROVIDES 6 RECOMMENDATIONS FOR ARAB GOVERNMENTS TO DEVELOP THEIR ECONOMIES

by **claud39** on Thu Apr 16, 2020 9:24 am

16/04/2020

The Council of Economic Unity of the League of Arab States published a new study entitled "The New Global Economy", which examined the close interconnection between economics, knowledge and technology.

The study confirmed that the fourth industrial revolution imposed a new reality and presented unprecedented capabilities and capabilities, noting that the great speed of technological development has changed the balance of global economic powers.

In this regard, Dr. Ali Mohamed El Khoury, advisor to the Arab Economic Unity Council affiliated with the League of Arab States, and the president of the Arab Union for the Digital Economy said: “Despite the enormous investments in the Arab world, there is a need to link these investments with strategic national targets, and to find new and effective mechanisms To measure economic returns and social impacts. ”

He explained that the "cognitive decline" in the Arab region has become an explicit threat to the pillars of national security, noting that the current traditional planning patterns will not serve the countries of the region in achieving the desired growth rates or solving the problem of radically increasing unemployment, especially with the growing practices of the digital economy and the global trend for more From investing in digital knowledge and technologies to support economic systems and digital societies.

The study provides several recommendations to Arab governments, the foremost of which is the importance of adopting common visions and strategies for Arab economic integration, through which it is possible to develop and employ resources, capabilities and productive capacity to meet the needs of Arab markets.

The study also indicates the importance of investing in digital economy projects, and linking investments in digital infrastructure to strategic national targets directed at addressing the challenges associated with economic growth and employment rates and other national strategic targets.

The study also stressed the need to enhance the developmental role of the private sector and fulfill its social responsibilities, especially in improving the efficiency, quality and attractiveness of local products and services, and directing the sector's efforts to support national targets.

The recommendations also included the importance of investing in the use of scientific and knowledge production in order to develop the economic system, in addition to supporting cooperation and mutual coordination between the Arab centers for scientific research and development, as the Arab region still lacks the "environmental system to produce knowledge", and needs possible mechanisms to establish the concepts of production, modernization and development Dissemination, transfer, localization and employment of knowledge.

Among the most important findings of the study is its affirmation of the importance of working to develop a "new global economic system", which can provide solutions to the dilemmas and risks surrounding the current economic system in all its schools and directions.

https://uabonline.org/%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d9%88%d8%ad%d8%af%d8%a9-%d8%a7%d9%84%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af%d9%8a%d8%a9-%d8%a8%d8%ac%d8%a7%d9%85%d8%b9%d8%a9-%d8%a7%d9%84%d8%af%d9%88%d9%84-%d8%a7/