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According to the Ministry of Economy’s 2018 report, the UAE economy is growing at an accelerated pace of 3.9%. According to the International Monetary Fund, while consumer price inflation in the UAE will rise slightly from 2.1 percent in 2017 to 2.9 percent in 2018, the UAE will record current account balance at 2.1 percent this year and the next year.
The UAE has several assets that create an attractive environment for economic growth. Human capital, infrastructure, capital availability and government efficiency are the most important of these assets.
Do we need to invest in human capital and education for the development of one country and one country? Yes, we absolutely need it. The educated nation is much easier to lead. The level of thinking of the educated man will have a positive impact on the contribution of development in his nation.
The government has allocated more than a third of its budget to education, where we can see that this country is ready to invest in human capital, which will automatically lead to the country’s growth. Moreover, economic growth is performing well in the UAE. The global economic situation has certainly not had a negative impact on higher education institutions in the UAE. Research in the education sector plays a key role as a tool to maintain the growth of the education sector. In terms of research, infrastructure, the UAE enjoys the privilege of having universities and research centers specialized in important fields, in addition to having several high quality scientific laboratories that encourage scientific research in the country.
Furthermore, the U.A.E enjoys excellent relations with many countries and the world’s leading organizations in science and technology. This has led to partnerships in research and innovative projects in many areas. The United Arab Emirates has a large number of public and private universities. Competition in the education sector should be taken as an opportunity for the country to grow and opportunities for investors to spend their investments. So parents and students have more choices to make their decision. Growth can be seen through the development of education by reducing unemployment, which is one of the main indicators of economic growth. Educated people will find it easy to get jobs than less educated, so the unemployment rate will be lower and growth will be improved accordingly.
The development of Hyperlink is a key element of establishing HyperLink, HEPTZ, www.vision2021.htm. “National Agenda in line with HyperLink https://www.vision2021.ae/en/our-vision “\ t” _blank “The vision of 2021.
The Government emphasizes that the U.A.E becomes the economic tourist and commercial capital of over two billion people. To achieve this, the Government has developed 12 key performance indicators, and educated workers are among these indicators.
Taking into account that education has a positive impact on growth, developed countries that have already achieved a sustainable level of growth will strive to ensure the smooth growth of the educational gap and ensure the innovative development that can now be seen in education in the U.A.E. Using the most resent technology tools and securing a smart learning methodology in U.A.E schools and universities can be a paradigm shift from the traditional learning paradigm to a student-centered learning approach.
Dr.. Othmanovic,
Dean of the School of Business Studies,
Al Ghurair University, Dubai
