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College of Business Lecture Series “Saudi Arabia Development” November 24, 2021

College of Business invited Dr. Faisal AlBashir AlMershed, Former Deputy Minister of the Ministry of Planning. Dr. Faisal served as a member of the supreme Economic Council from 1999-2013, a member of the board of Saudi Aramco, and a member of the first SABIC board of directors. He published a book “A Structural Econometric Model of the Saudi Arabian Economy: 1960-1970”. Dr. Faisal received his PH.D. in Econommetrics from University of Arizona and his B.S. and M.A. in Economics from University of Oregon.

The lecture titled “Saudi Arabia Development” was presented to the students of College of Business. The presentation took place on Wednesday, November 24, 2021 in the Lecture Theatre.

Dr. Faisal spoke about the schemes of developing the Kingdom of Saudi Arabia. First, he spoke in detail about the definition of development. He explained that ddevelopment is the act or process of growing or causing something to grow or become larger or more advanced to improve the quality of the life to the people. He gave examples of how the Saudi economy has witnessed a growth in many sectors, taking advantage of the natural resources in the Kingdom and its geographical and cultural position between three continents.

Dr. Faisal then spoke about how the Kingdom has witnessed economic and financial structural reforms in the 1960s and 1970s which promoted economic growth while preserving stability and financial sustainability. Finally, He gave different examples from his experience about planning and development and he emphasized to students that they are the biggest assets in future developments and growth.

The lecture is part of College of Business Executive Lecture Series to provide Alfaisal University students and guests from the business community the opportunity to learn from some of the country’s leading executives and leaders as they talk about their experiences.  College of Business sponsors the weekly Executive Lecture Series to bridge the gap between the world of leadership and business education.

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