His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region, stated that the development boom currently underway in the Kingdom of Saudi Arabia requires the establishment of a high-quality, professional economic media sector that contributes to strengthening the role of this development boom in the country, and reflects its importance to audiences both at home and abroad.
Developing the Principles of Media and Economics
During his patronage yesterday of the 7th Forum of the Saudi Media and Communication Association, titled “Media and Economics… Integration of Roles in the Service of Development,” the role of universities—represented by their media and economics departments and scientific associations such as the Saudi Media and Communication Association—in clarifying developmental integration and its role in societal development, and in highlighting the aspect of developing the principles of media and economics. The Governor of Riyadh Region noted the importance of the forum, held at King Saud University in Riyadh, which brings together specialists in various media fields and their counterparts in economics to discuss economic and media issues in light of current changes and challenges.“
His Highness Prince Dr. Nayef bin Thunayan bin Mohammed, Chairman of the Board of Directors of the Saudi Media and Communication Association and Head of the Media Department at King Saud University, explained in a speech during the ceremony held for this occasion, that the organization of the conference stems from an awareness and recognition of the Kingdom’s leading role and its growing economic standing on the global stage, as it is one of the G20 nations whose national output accounts for approximately 90% of the world’s total output and whose intra-G20 trade accounts for approximately 89% of global, and as an extension of previous media forums, the Society has organized six forums hosting an elite group of media professionals who are pioneers in media research in the fields of media and communication at the local, Arab, and global levels.
The importance of the media in raising awareness of economic changes
Prince Nayef bin Thunayan addresses the role of the economy, which is considered the foundation of development; there can be no sustainable development without a sound economy that shapes the future and opens the door wide to massive financial projects on which the country will rely in the coming years, in addition to its oil exportsto propel the Kingdom into a new phase characterized by diversified sources of income and opening the door to creativity and innovation. Then came the “National Transformation Program” for government and private ministries and institutions, which supports the Economic and Development Council in its direction. Today, we have established the world’s largest sovereign wealth fund, with assets exceeding $2 trillion. These landmark decisions are based primarily on investing in human capital and strengthening thetoward a knowledge-based economy so that oil is not the sole source of income in a strategic plan designed over a 20-year period.
The media keeping pace with development and economic transformations
His Highness noted the need for various media outlets—both traditional and new—to keep pace with these massive economic plans, to showcase these efforts, and to highlight these programs, projects, and landmark decisions. This is what the forum will discuss in its themes and scientific sessions over two days through 36 experts and researchers.
His Highness noted that these periodic forums represent the Association’s contribution to raising media awareness in society, developing scientific and intellectual knowledge, promoting national development efforts, studying communication phenomena, and achieving global leadership in the fields of media and communication.
