Kuwait adopts contemporary knowledge economy concepts 

(MENAFN - Kuwait News Agency (KUNA)) The state that started reaping fruits of development of human resources' schemes would press ahead on development path, nudged with strong support of the political leadership, said the Minister of Public Works.

Dr. Fadhel Safar, also the Minister of State for Development and Planning, said in a statement on fringes of the second meeting of the board of trustees of Kuwait Award for Knowledge Economy, held late on Sunday, that the civil servants have shown capacity of absorbing requirements and terms of the strategy. "Now we are altering the plan and preparing for presentation of the fourth scheme," he said.

On the award, minister Safar indicated that it was in line with the contemporary concept of knowledge economy, applied in advanced nations, with emphasis on training and human personnel aspects.

The knowledge economy, according to the online service, Wikipedia, is a term that refers either to an economy of knowledge focused on the production and management of knowledge in the frame of economic constraints, or to a knowledge-based economy. In the second meaning, more frequently used, it refers to the use of knowledge technologies (such as knowledge engineering and knowledge management) to produce economic benefits as well as job creation.

Elaborating, the minister said members of the board visited HH the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah, for deliberating this newly-introduced concept for development, adding that they would hold an identical meeting with HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, soon.

For his part, the secretary general of the award, Khaled Al-Hashash, affirmed that it was intended to boost adoption of this new approach, indicating necessity of this field for economic program and transfer of international know-how to the country.