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Human development necessary for post oil economy

The development of human capital will be increasingly important as the UAE, and the rest of the GCC, move towards a post-oil era, experts at the 2017 GCC Labour Market Conference said.
Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, on Sunday attended the opening of the event, which is held under the theme 'Gulf human capital, a promising wealth'. The two-day conference is organised by the Sharjah Chamber of Commerce and Industry, and is being held at Expo Centre Sharjah.
"Global and regional economic upheavals that have resulted in persistent low oil prices have affected the revenues of hydrocarbon producers and their rate of economic growth," said Abdullah Sultan Al Owais, vice president of the Federation of the UAE Chambers of Commerce and Industry and chairman of the Sharjah Chamber of Commerce and Industry.
"This has had a knock-on effect on investment in projects that provide new employment opportunities," Al Owais said. "The GCC countries have the vision and the resources to lead economic growth in the post-oil economy and thereby expand the opportunities for human development, training and employment in the public and private sectors while laying the foundations for the establishment of more small and medium-sized investment projects."
Al Owais also delivered a presentation on the importance of human resources as the basis for the sustainable development of any society. He pointed out that the GCC countries have given priority to Gulf citizens, while building the foundation for improving human lives based on a shared common vision and the wise guidance and support of the leaders of these countries.
Also among the speakers were Jameel bin Mohammed Ali Humaidan, Bahrain's Minister of Labour and Social Development and current chairman of the GCC Labour Ministers, and Fayez Ali Al Mutairi, director general of the Arab Labour Organisation.
Humaidan affirmed the efforts of GCC governments to achieve their vision and development plans to provide citizens with a higher quality of life and to achieve the goals of social welfare and security. He emphasised the importance of reforming the education and training sector, which has a direct impact on the development of human resources in line with global best practices.
Humaidan also reviewed the Kingdom of Bahrain's experience in supporting its human resources and ensuring continued development. He said the strategic plans of the Bahraini Government depended on an effective partnership with the private sector, which is the main generator of employment opportunities for citizens.
Al Owais also announced the establishment of an award to recognise and honour Gulf enterprises employing the highest number GCC citizens under the name 'Sharjah Gulf Localization Award'. The first edition of the award, under the aegis of the Sharjah Economic Excellence Award in cooperation with the Federation of Chambers of the Gulf Cooperation Council, will be presented in 2018.
- rohma@khaleejtimes.com