MOH News
Al-Falih: “Innovation and Technology Are Main Factors Boosting Economic Growth of the Kingdom”
25 January 2016
His Excellency the Minister of Health, Eng. Khalid Al-Falih, speaking at the 9th Global Competitiveness Forum (GCF 2016) in Riyadh, highlighted the importance of moving from an economy dependent on one source to a multi-source economy to achieve qualitative economic growth of the Kingdom. 
 
 “The Saudi economy has recorded a steady growth level over the past years, which will last with the same rate in the years to come, Allah willing, by relying on multiple qualitative sources of income”, said Al-Falih.
 
In his speech during a discussion panel entitled: “Competitive sectors: What are the sectors that will drive the wheel of growth and innovation in the future?”, Al-Falih underlined that innovation and technology are main factors that will boost the economic growth of the Kingdom, in such a way that reduces the economy dependence on oil.  
 
Within the same vein, he touched upon the development of the health sector in the Kingdom, saying: “The paradigm shifts witnessed by the Ministry of Health (MOH) will make the health sector more efficient and competitive, in line with the international standards. The most prominent example is the health insurance project which ensures the provision of comprehensive health care for citizens.” 
 
He went on adding: “The physicians and other health cadres are leading the development in the health sector, as part of the government endeavors to promote the national talents and capabilities in all fields, with the aim of enabling citizens to develop other new sectors (e.g. tourism and industry), the matter which will contribute to creating more jobs for youth of the nation”.
 
It is noteworthy that the GCF is an annual event, which is organized by the Saudi Arabian General Investment Authority (SAGIA) and attended by ministers, political leaders and businessmen from all over the world, who share a common interest in economic competitiveness. The Forum has been inaugurated this year under the theme: “Competitive Sectors”, shedding light through its activities on the main factors that are essential for boosting the economic growth and diversifying its resources, as well as upgrading skills and training required for establishing knowledge-based economy.
 
 
 



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