Middle Eastern Leaders failed to emphasize education

Middle Eastern leaders have failed to equip the youth of the region with the right skills to meet the challenges they currently face, an economic leader said on Sunday.

Speaking during CNBC ‘Invest it Forward’ debate at the World Economic Forum in Eqypt, Shaikh Mohammed bin Essa Al-Khalifa called for greater investment in education throughout the region.

“Imagine yourself 20 to 30 years in the future where we have a Middle East that is highly productive, everybody is working and we have peace. In order to get there you have to acknowledge that today, we collectively have failed to serve our people and failed in equipping them with the right skills,” he said.

Shaikh Mohammed said 60% of the region’s population is under the age of 30 years, and the region’s leaders must increase their investment in education for this large gemographic.

"We must admit we have failed in meeting our challenge and equipping the people of the Middle East with the right skills they need," he added.

However, the results of the debate saw the majority of participants disagree with Shaikh Mohammed, voting that Middle East's leaders do have the long-term vision necessary for the sustainable development of the region.  

Participants did agree that more investment in people was required to equip them with the skills necessary for the future success of the region.

The debate had considered two motions – that the stewards of the Middle East's oil wealth lack long-term vision, and that the region is failing to invest adequately in its most important asset: its people

Mohamed Bin Ali Alabbar, chairman at Emaar Properties, said the Middle East region had learnt its lessons from previous oil booms and busts, and steps had been taken to invest in the long-term growth of the region.

“The leadership that you see in the Middle East is a leadership of change.  From the capital markets, to education, to transparency, rules, regulations, governments have changed. Governments are not what they used to be.

"We have good strong leadership…we have liquidity on our side. We have strong institutions, at least in the Gulf region... but to be honest also we have to keep the pressure on governments to move on, to create that vision,” Alabbar said.

The CNBC debate challenged a panel of global experts on whether leaders in the Middle East are translating the gains of the oil boom into long-term growth for the entire region.  

The debate was attended by 200 World Economic Forum delegates.

 

 

 

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