The government intends to establish seven new universities, privatize 20 state-owned corporations and expand women's participation in developmental activities by 30 percent, under the recently launched five-year plan, according to a press statement published today.
The 8th Five-Year Development Plan (2005-2010), which was approved by the Council of Ministers last Monday, also targets the establishment of a knowledge-based economy and development of mining and tourism sectors.
"The 8th plan includes establishment of seven new universities and about 50 colleges of technology with specializations required by the job market and the private sector," said Ahmed Al-Hekami, Deputy Minister of Economy and Planning.
At present there are 11 government-run universities in the Kingdom of Saudi Arabia including the recently established universities in Qassim, Taif and Madinah. Efforts are also under way to establish the King Saud University for Health Sciences in Riyadh after the government gave approval for it.
The Custodian of the Two Holy Mosques King Abdullah has ordered the opening of three new universities in Jizan, Hail and Al-Jouf in order to create higher education facilities for students in the three regions. Efforts are under way to establish several new private universities and colleges within the next five years.
The Ministry of Economy and Planning, which prepared the new five-year plan, has also set out a 20-year long-term strategic plan for the Kingdom with the objective of strengthening its position in the comity of nations by 2025.
According to the Minister of Economy and Planning, Khaled Al-Gosaibi, the long-term plan aims at increasing oil and gas production, creating new sources of income, developing service institutions, encouraging new joint stock companies and the merger of existing firms and promoting manpower development programs.
