ECSSR meeting opens in Capital

The seventh annual conference of the Emirates Centre for Strategic Studies and Research (ECSSR) opened here yesterday with the emphasis on the importance of intellectual capital in building a prosperous economy.

The conference, Human Resource Development in a Knowledge-Based Economy, was opened by ECSSR Director Dr Jamal S. Al Suwaidi.

The three-day event is being held under the patronage of Lt Gen. Sheikh Mohammed bin Zayed Al Nahyan, Chief of Staff of the UAE Armed Forces and President of the Centre.

Hamid Karzai, head of Afghanistan's interim government, has been invited to deliver the keynote speech tomorrow.

The opening session was attended by Minister of Information and Culture, Sheikh Abdullah bin Zayed Al Nahyan; Minister of Higher Education and Scientific Research, Sheikh Nahyan bin Mubarak Al Nahyan; and Minister of Agriculture and Fisheries, Saeed Mohammed Al Raqabani.

In his opening speech, Dr Al Suwaidi said the conference is being held to explore ways to build human capital, pinpointing the skills needed to harness opportunities and overcome challenges of the new economic order.

"Intellectual capital is now referred to as the principal asset of dynamic organisations. Knowledge and human capital are seen as critical to the success and growth of any organisation, and form the building blocks for the economy of the future," the ECSSR official stressed, referring to the title of the conference.

Dr Al Suwaidi observed that the momentous advances that have taken place in the field of information technology have rapidly transformed the world and given impetus to the now well-explored process of globalisation.

He further explained: "What has been less explored is the impact of such changes on programmes for human resource development and the nature of the work force of the future.

"Changes in international and trans-national organisations have been taking place to accommodate, benefit from and exploit the information revolution, but the field of human resource development has lagged behind," he said.

Nevertheless, he added, experts in economics and human resources have for years been emphasising the value of a well-equipped and committed work force in knowledge-based economy.

"The ECSSR is honoured to host a distinguished panel of speakers that include ministers, management experts, human resource professional, corporate directors and consultants, and leading academics to examine the most topical issues relating to human resource development in the context of the knowledge-based economy," said Dr Al Suwaidi.

He also praised President His Highness Sheikh Zayed bin Sultan Al Nahyan, saying Sheikh Zayed believes human resource is the key factor to social and economical progress and development of a country.

He also thanked Sheikh Zayed and Their Highness the Rulers of the emirates for their support and guidance to tap human resources that has led to the country's social and economical development and stability.

The first session yesterday, chaired by Dr Mohammed Mansour of UAE University, was also addressed by Kuwaiti Minister of Finance and Planning and Minister of State for Administrative Development Affairs Dr Yousef Al Ebrahim; and Dr Stan Davis, senior research fellow at Ernst and Young's Centre for Business Innovation.

Dr Al Ebrahim's paper dealt with the importance of education and human resource development in a knowledge-based economy.

It also reviewed the role of government policies in reforming an educational system to meet the needs of a knowledge-based economy, with special attention paid to the GCC countries.

Dr Davis, in his paper, discussed building a knowledge-based economy and its challenges and opportunities.

The second session was addressed by Thomas Stewart, member of the board of editors at Fortune magazine, and Laurence Prusak, executive director of the Institute for Knowledge Management.

Stewart, in his paper, discussed knowledge and the wealth of organisations in a knowledge-based economy.

Prusak's paper dealt with information technology as a conduit for the transfer of knowledge and innovation.

Karzai, in his keynote speech tomorrow, will discuss ways of developing human resources in the changing global environment.

His speech will throw light on the reconstruction of Afghanistan as well as the changing international political and economical developments.