There is no denying that lack of quality education is holding back this region. If one looks at some of the prosperous nations today; Switzerland, Singapore, Taiwan, South Korea, Japan etc; they are characterized by small land mass, no resources but well educated and hardworking people. Having an abundance of oil resource in the Gulf cooperation council countries (GCC), has truly slowed down the region’s development because of the collective thinking that money can save all problems. The decision makers in these countries should realize that people are the only true means to create wealth and education is the key to tap in to that wealth. Human asset is the only asset that appreciates over time
In sectors like oil and gas which GCC countries had a head start, they should have been world leaders by now; both in upstream and down stream technologies. However, due to lack of quality training and development of man power, even now local oil companies need assistance from multinational oil companies to perform basic oil and gas exploration and refining operations.
My work as a business consultant in the Middle East has brought me in to contact with a lot of corporate heads, which are largely locals. To be frank, most of them hold their titles because of their social status and not because of their level of education or technical competence. Some of them might have studied in western universities, but the western education has not developed any of their skills and as one local told me, they do it so their family can claim that their child is western educated. This is why in spite of massive oil wealth in the GCC region, there is hardly any local player with industry revolutionizing idea in global business.
Time is now right for GCC countries to invest in education. With oil prices on a lull, these countries need to look for alternate income. For cash rich, labor short (taking in to consideration of only nationals and no expatriates) countries like GCC, it needs to invest in sectors like IT, bio medical technology, agro technology etc, industries which are quality driven over quantity. Grants should be provided to companies willing to invest in superior education and with women being half the labor population, governments should actively promote education of women. Imagine how the economy in Saudi Arabia will benefit if all the eligible women there could work! The honchos in the Gulf countries should realize that education frees the mind from ignorance & bigotry and unleashes the creative contributions of every citizen, to improve their own lives and the wider community.
